The Internet of Things

the internet of things

IoT: “the connection of devices (other than typical fare such as computers and smartphones) to the Internet.” -Andrew Meola, Business Insider

Your PHA could save money by plugging into the “Internet of Things (IoT). But how?

We live in a very connected world. Statista estimates there will be 23.14 billion connected devices worldwide in 2018. Chances are, your residents have access to a smartphone. In fact, 86% of U.S. Consumers own one. Pew Research reports that a growing number of lower-income Americans “rely on smartphones to access the internet.. One-in-five adults whose annual household income falls below $30,000 are smartphone-only internet users, compared with only 4% of those living in households earning $100,000 or more.”

Adding smart products to your units gives residents more control, which they enjoy. But, how can you use this to your advantage? Your PHA could save money by plugging into the “Internet of Things (IoT). But how?

At a 2017 meeting of the National Affordable Housing Management Association, RealPages’ Gustavo Sapiurka says one of the trends in Multifamily Housing includes “things” that are connected. They include:

Thermostats Smoke and CO2 Detectors Cameras Lights Smart Locks Leak Detection Motion

Sapiurka says you can shut down an HVAC unit remotely and “never pay for vacant utilities again.”

A leaky toilet can waste around 6000 gallons/month. It could cost thousands per year! The Wirecutter tested leak detectors in 2016, for things like the ability to detect leaks, how they’re connected to the internet and how they alert the owner to a leak. Their tests lead them to water sensor from D-Link, which C-Net declared the best “flood sensor” for 2018.

"Companies using IoT sensors and systems to control heat and air conditioning usage in large facilities can save serious dollars."

-J I L L K R A SN Y , I N C . C O M

Smart locks can also increase productivity. Buildings.com explains how smart locks can make your property managers more efficient:

“When a tenant moves out, property owners or managers no longer have to worry about getting the key back or having to re-key the lock. Property owners and managers can simply log in and deactivate a previous tenant’s smartphone access to the unit.”

Smart locks also “a great solution to the ageold issue of lost keys,” says Cradlepoint’s Hubert Da Costa. “Only requiring a smartphone with a matching signal to unlock them, access controls can be managed in a centralised [sic] online system.”

"a great solution to the age-old issue of lost keys"

Having any smart technology can increase your marketability. Your property will stand out from the competition. It can also make property management more efficient. The only downside is that technology is constantly changing and upgrading! Today’s smart lock device will keep today’s resident happy until they move. Your new resident, however, may expect the latest and greatest technology in that unit.

PHAs also have to be mindful of the “hackability” of these connected devices. For more on that, check out this interactive look at “Your Hackable House” from CNNMoney.

Funding is an issue

The Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy (EERE) sometimes issues solicitations (called Funding Opportunity Announcements (FOAs)) for specific projects that it has a programmatic interest is on the EERE Exchange website EERE Exchange.

Hey, how does your PHA use smart tech? Let us know.