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Lucas Haldeman, CEO of SmartRent, weighed in on a few trends he sees coming to multifamily living spaces.

‘Roll Up Strategy’

One trend Haldeman sees is a “roll up strategy” of consolidating products into one company, rather than each “new whiz bang thing” existing on its own. The end result will be fewer vendors providing more functionality to owners, he said.

Coworking + Living

As the gig economy changes how people work, Haldeman sees coworking becoming integrated with living spaces. For example, a developer might turn an unused building near multifamily living into a coworking space — keeping it within walking distance adds to the appeal of the living units.

Another way property managers might integrate coworking is by adapting underutilized spaces within their complexes. Say a complex’s common area has comfy seating, WiFi and a TV, and it’s often empty. The space could be used for coworking during the day, allowing users to collaborate in the space and give presentations on the big screen — and, using SmartRent access controls, building managers would be able to control and monitor access to the space.

Gig Economy Influence

The current model for property maintenance, Haldeman said, is to have a few people on staff to handle general problems and hire for large or specialized work. However, as platforms like SmartRent allow property managers to monitor and preemptively fix problems, it could be possible to outsource jobs as needed “versus just having more bodies on staff driving golf carts around.”

Insurance

The future of insuring multifamily properties could be on the verge of change, Haldeman predicted. New technology allows owners to better protect both residents and property. He said both startups and insurance industry incumbents will have “new, disruptive insurance technology coming down the pike.”

Power Consumption

Haldeman noted that new battery technology is changing the way property owners see the grid. Some are beginning to consider integrating power storage, which could change the way they buy and use power in their buildings.

“There are some innovative owners out there and innovative companies that are looking to build that into the base offering,” he said.

Read our full feature on Lucas Haldeman and SmartRent from the February 2020 issue of Think Realty Magazine here.