Mar 5, 2021
Smart apartment technology, also known as PropTech, provides opportunities to improve operations and profitability for property owners. There are multiple ways to leverage technology to increase a property’s value and NOI. Kyle Finney joined the business development team at Arize to bring emerging technology to real estate.
One of the questions for investors is will renters pay for smart technology? Amenities and services like smart locks, lighting, and thermostats have the ability to improve a resident’s experience. In addition, water leak detectors protect owners from unnecessary costs. Kyle is seeing smart technology adding an additional $30-60 per month per unit.
Kyle has worked alongside commercial real estate professionals in both Phoenix and Las Vegas, heading up initiatives for gaining insight, adopting new tech, and carrying out marketing and sales strategies aimed at helping companies stand out while increasing revenue and attracting & retaining tenants.
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PropTech is the idea that technology is disrupting the real estate market
81% of millennials are willing to pay more for a unit that is equipped with a smart lock.
AI and complete interconnectivity is the future of multifamily
I launched my first business when I was 18, determined to do everything myself. That didn’t work out so well, but it taught me the importance of working and surrounding myself with smart, like-minded people.
Most Recommended Book:
Originals (Adam Grant)
The Four Agreements (Don Miguel Ruiz)
A morning and evening routine
Where life is going to be in the next 50 years
Wish I Knew When I Was Starting Out:
Trusting people and asking for help.
Best Place to Grab a Bite in Phoenix:
Bitter and Twisted
Get in Touch with Kyle: