The Internet of Things (IoT) is a growing topic these days. As our world gets more connected through the internet, so do our possessions. Our multiple devices are now able to connect through the industrial internet and “talk” to each other, allowing the smart devices  to react and adjust to changing conditions without human intervention.

Whether it’s a car that can self-correct a route in heavy traffic or an alarm that adjusts itself based on severe weather factors, when it comes to the potential benefits of the Internet of Things, we tend to focus on the consumer. However, industrial IoT technology benefits businesses too and can be especially useful in apartment leasing and management.

This guide will go over five of the benefits of the Internet of Things so that you can manage your smart home properties in a more efficient, tech-savvy way with smart devices.

1. Energy consumption

When we look at how a residential property consumes energy, it can be broken down into multiple categories:

• Refrigeration
• Food preparation
• Hot water
• Appliances
• Lighting
• HVAC

Over half of energy consumption in most buildings goes toward HVAC. Next up is lighting. Beyond just the environmental toll, there’s also a monetary cost to consider with these systems. However, industrial IoT technology can make these systems more efficient by:

• Utilizing a smart thermostat – By equipping your building with smart thermostats you can optimize your HVAC usage based on occupancy and time of day. A smart thermostat ensures you’re spending as efficiently as possible and reduces your overall energy output.

• Automating lighting – By using automated lighting you can also reduce your overall energy costs. With IoT sensors that can alert residents when their lighting usage is above average, you can build better habits in an unobtrusive way with an IoT-connected device.

2. Response time

When managing an apartment building there are several reasons to make sure issues are dealt with in a prompt, efficient matter:

• Repair issues often can lead to unexpected costs when not dealt with immediately. An easy-to-fix leak can develop into major water damage in no time.
• Residents are happier when they feel respected and their issues are dealt with promptly.
• Efficient work within the building frees up your staff for other projects with minimum disruption.

Thanks to IoT data , you can create an easy-to-use smart community hub where residents can report issues and your staff can easily see tasks that need to be done based on time reported and priority.

3. Air quality

From car-clogged roads to constant wildfire activity in the western US, issues like these can affect air quality in our cities and apartment buildings. With IoT sensors that monitor air quality, you build a better environment for your residents and adjust your HVAC systems to deal with any issues with respect to air quality.

4. Safety

While air quality is one example of how IoT data can help with safety, there are other ways these technologies can enhance safety in case of emergency:

• Detection – We already know the benefits of smoke detectors or carbon monoxide detectors, but what if those devices could also call the authorities? When an emergency occurs, precious seconds can be saved with the help of an IoT network.
• Building response – In addition to simply setting off sprinklers in a fire, an IoT network allows for certain doors to be closed or opened to minimize damage and appliances to be disabled so as to limit potential risks. Basically, the building itself will start reacting to the emergency before the authorities even arrive.
• Shared IoT system data for easy entry – The more information the authorities have when responding to an emergency, the more effective they can be. Since an IoT system can grant them remote entry during an emergency, they won’t have to enter by force, allowing them more time to tend to the issue at hand.

5. Security

When your residents feel secure in their homes, they may be more likely to renew their leases instead of looking elsewhere for housing. To give both you and your tenants peace of mind, look to IoT for tech-based solutions like:

• Biometric entry systems
• Smart security cameras
• Surveillance sensors that can notify you in case of suspicious activity
• Remote access and visitor management solutions

By tapping into these IoT services and technologies, you’ll be able to keep a close watch on your property no matter where you are. Plus, residents will be more at ease knowing their homes may be less susceptible to security threats.

Start benefiting from IoT with Alfred

An IoT platform is no longer something that we can expect from the future—it’s here now. As more and more of our devices become connected, fewer items wind up on our to-do lists. The benefits of this are far-reaching—not only in the development of more sustainable living spaces but also in the efficiency with which you can manage your properties.

At Alfred, our IoT platform is equipped with property management solutions that streamline rental payments, package management and remote access solutions, resident services, optimize property performance, and offer valuable insights into your residents’ needs. Plus, the easy-to-use interface offers renters all of the comforts of home they never even knew they needed—from grocery shopping and delivery to home cleaning and pet care.

Smart home technologies and simple property management start here.