For smaller multifamily property owners, adopting smart technology can feel like a daunting financial commitment. However, implementing smart tech doesn’t have to be an all-or-nothing decision. By starting with a pilot program—testing select technologies in a limited number of units—owners can evaluate the benefits without a large upfront investment. This approach minimizes risk, provides valuable data and ensures that the chosen solutions align with both operational needs and budget constraints.
Start small: Focus on one technology at a time
Instead of attempting a full-scale smart tech rollout, owners should start by implementing a single technology that offers clear, measurable benefits. Smart thermostats, for example, are a cost-effective choice that can immediately reduce energy consumption. Testing them in a few units allows owners to compare energy bills before and after implementation, helping determine potential long-term savings.
Other affordable and high-impact smart technologies for pilot programs include:
Smart locks – Improve peace of mind and convenience while eliminating the cost of rekeying.
Leak detection sensors – Prevent costly water damage by catching leaks early.
Smart lighting – Reduce energy costs and improve common-area safety.
Choosing one of these technologies allows owners to collect data and feedback before committing to a larger investment. A successful small-scale pilot can also help build the case for broader implementation when presenting the idea to stakeholders. When selecting a pilot technology, consider ease of installation, compatibility with existing systems and the level of vendor support available.
Leverage existing resources—no consultants needed
Owners don’t need to spend money on consultants to evaluate smart tech. Instead, they can rely on their team, resident feedback and operational data they already have.
Steps to take:
Assess current operational challenges – Review maintenance logs, utility bills and resident feedback to identify inefficiencies that smart tech could address.
Engage residents – Ask residents if they would be interested in specific smart home features and gauge their willingness to pay for enhanced conveniences.
Use staff expertise – Property managers and maintenance teams already understand daily operational pain points. Their insights can help determine which smart tech solutions would provide the most value.
Test in diverse unit types – If possible, pilot technology in different unit sizes or building layouts to see how well it adapts to varying conditions.
By leveraging these resources, owners can gain valuable insights without additional expenses, making the pilot process more cost-effective and practical.
Define success metrics and track results
Before launching a pilot, owners should set clear goals. Are you looking to reduce maintenance costs, cut energy bills or improve resident satisfaction? Setting key performance indicators (KPIs) from the start ensures results are measurable and actionable.
KPIs may include:
Utility savings – Comparing energy or water bills pre- and post-pilot implementation.
Maintenance efficiency – Tracking how often staff needs to respond to issues like HVAC malfunctions or leaks.
Resident feedback – Conducting surveys to assess whether residents find smart tech beneficial and user-friendly.
Operational improvements – Measuring response times for maintenance requests or security incidents with and without smart technology.
Tracking results over time offers a clear picture of whether the tech adds value. Document findings and, where possible, reference case studies from similar properties that have implemented smart tech. If results are promising, owners should also prepare a summary of findings to support stakeholder buy-in or budget expansion.
Scaling up: Expanding the pilot to a full implementation
If a pilot proves successful, owners can then consider a gradual rollout across more units or properties. This phased approach prevents large upfront costs while allowing for adjustments based on real-world performance.
To scale efficiently:
Prioritize high-impact areas – Expand smart tech to units or common spaces where it will have the greatest return.
Negotiate bulk pricing – Once a successful pilot is completed, vendors may offer discounts for larger purchases.
Train staff and residents – Providing clear instructions on how to use smart tech ensures maximum adoption and benefits.
Integrate with existing systems – Ensure that new technology works seamlessly with current property management software and operational workflows.
A strategic expansion plan prevents missteps, ensuring that technology investments align with both business goals and budget limitations.
Smart tech without the financial strain
As the rollout expands, continue monitoring KPIs to ensure performance remains consistent across properties. A thoughtful rollout strategy ensures the investment aligns with your business goals and budget.
Smaller property owners don’t need deep pockets to benefit from smart technology. By piloting solutions first, they can make informed, data-backed decisions. This approach reduces risk, minimizes upfront spend and ensures any investment directly benefits both operations and residents.
Want to explore the best smart tech options for your property? Download our guide to learn more about our smart technology solutions or book a demo to get started today.