Access control systems, smart home automation platforms, and various “connected living” solutions promise to improve day-to-day life for residents and property managers, but they often fall short when it comes to usability and security—and come with a slew of hidden costs.
To help, we’ve created a list of questions to ask when evaluating smart home vendors.
1. What kind of supporting capital expenditure is needed to get the system up and running?
a. Does it require wiring, panels, hubs, or persistent internet connectivity?
2. How will the system help support the services that residents increasingly expect and depend on?
a. Does it facilitate package delivery and on-demand services like cleaning and grocery delivery?
3. How is the system supporting smarter access?
a. Does it provide a full-building solution covering every access point in the building?
b. Does it give residents the option to use multiple access credentials (phone, keycard, doorcode, backup key) if they don’t want to download an app?
4. What commitments has the vendor made to release upgrades if security vulnerabilities occur?
a. If they do not create their own hardware or firmware, how will they respond to potential issues in real-time?
5. Is the system fault-tolerant in the event that internet is compromised or there are cloud outages?
a. Does it rely on the internet to communicate data back to the device?
b. Is there a back-up battery-powered option if power goes down?
6. What commitments will the vendor make to maintain software throughout the life of the contract and any interoperability for every door on the building?
a. During the duration of your contract, does the provider continue supporting legacy products, software, and various integrations—or are you at risk of investing in systems that could become obsolete?
At Latch, we’re committed to providing residents and property managers with smarter ways to open, manage, and share the spaces that matter—and helping owners offer a connected living experience that increases the valuation of their property.
To download this checklist, click here.
Smart building technology delivers a wide range of financial benefits for multifamily owners and operators. From cost efficiencies to improved customer experience, a strategic investment in the right technology solution can positively impact both the cost and revenue sides of the ledger.
There are several different ways to estimate how smart communities achieve ROI. Learn more about the four most popular approaches in our easy-to-read guides.