“Millennials adopt technology faster than other generation,” Taylor Wiederkehr, software implementation analyst at Alliance Residential Co., said on the Property and Asset Management: Implementing Automation for Productivity Enhancement panel at RealShare Apartments. The panel was moderated by Mike Ballard, a partner at Ascent Multifamily Accounting, and featured panelists Bryan Colin, co-founder and CEO of Virtual APT, and Jason Lindwall, SVP of property management solutions at RealPage, in addition to Wiederkehr. The panelists were all focused on finding ways to encourage and communicate adoption of technologies.

Technology adoption begins with younger generations, said the panelists, speaking specifically about millennials, which are becoming the dominant demographic in multifamily rentals. “Tech does begin with the younger generation,” says Colin. “It is going to build from the younger generation. It takes time for people to accept and grow with.” Lindwall added, “It is interesting to watch the college student population today. The demands are moving into the mainstream, and technology is going to have to be there to manage those expectations.”

These younger generations also expect technology integration, so amenities like thermostat control, smart phone control and doorbell cameras have become important. As a result, automation is going to play a major role in the future of multifamily. “Automation is going to come across the board,” said Colin. “There is going to be a huge shift, and people need to be realistic and realize that 20% of the jobs that we have today are going to be gone in the next seven to 10 years. If you aren’t adding value, there is going to be a machine that will do something for you.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.