Visit any student housing community, and you will find yourself surrounded by members of Generation Z. Currently aged up to 24 years old, Gen Z is poised to become America’s most active renter demographic. But, right now, they’re enrolled in college and in search of student housing that offers their most sought-after amenity: smart home technology.
Smart tech speaks directly to Generation Z’s need for constant connectivity. In fact, 62% of them say that smart home tech is an important factor in deciding where to live. Smart home tech also benefits housing operators, from the elimination of app fatigue to cost savings in the areas of labor, energy, and more.
Needless to say, appealing to Gen Z student renters and boosting revenue can be accomplished with the right amenities. Here are 3 technology tools that student housing operators will want to adopt in their student housing communities.
Managed WiFi is one smart home technology tool that Gen Z wants and needs when enrolled in classes. This generation spends more time online than any other. 58% of them can’t go more than 4 hours without Internet access before becoming uncomfortable. Plus, more than one-quarter of them say that wireless Internet access is a more important community amenity than secure parking.
Because managed WiFi is so integral to college students’ success, this feature is a natural choice for student housing communities. Managed WiFi provides residents and on-site staff with several appealing features, like professional pre-installation that occurs before move-in day and a reliable connection for hours-long study sessions (or Netflix marathons).
Smart home technology is also revolutionizing how Gen Z enjoys access to their apartments and community amenities. Access control and smart IoT systems allow them to enter their homes with a unique code and control access from virtually anywhere. In the event that they forget their code or lose access, they can regain entry with SmartRent’s 24/7, app-based customer service team.
With access control, Gen Z students can say goodbye to keys, access cards, and other outdated access methods. All they need is their code and their smartphone, in case of an emergency. Things are equally as simple for property managers, who are able to connect the access control platform to their preferred PMS or CRM platform. Easily store all data in one place, without having to learn a new program or, worse, download multiple apps to enjoy full control over your community.
Sustainability is another factor in smart home technology’s appeal. Generation Z is the “sustainability generation” and looks to smart tech to help them in their quest for an eco-friendly lifestyle. For many, this starts with environmentally conscious alternatives to traditional apartment amenities. According to last year’s NMHC/Kingsley Apartment Resident Preferences Survey, residents under the age of 25 expressed particular interest in sustainable amenities like high-efficiency appliances and recycling programs.
Smart thermostats not only reduce students’ individual bills but also trim costs at the property-wide level. Property managers using SmartRent thermostats spend 30% to 40% less on their energy bills. Not to mention, smart thermostats and other eco-friendly features can help communities fetch larger rent premiums. A recent study by First Insight Inc. finds that 73% of Generation Z would pay more for sustainable items – 10% more, in many cases.
Smart home technology is very promising for Gen Z students. Smart home solutions appeal to these student renters because they afford them the convenience they crave and the connected lifestyle they consider par for the course. Interested in trying out our smart home technology package? Contact us today for a free demo .