Investment in proptech reached $20 billion in 2020. If you’re investing in multifamily real estate, you need access to the top proptech security technologies to improve the tenant experience, which will help you to retain and attract tenants.
So, what are the best proptech security trends?
Keep reading as we discuss the top proptech security trends that improve hygiene, security, and visitor check-in at your multifamily commercial real estate properties.
Many US and Canadian cities like the Vancouver housing market in BC, continue to have increased demand for security in the multifamily rental market as populations grow and urban density increases.
Top Proptech Security Trends For Multifamily CRE
You need to know about the latest proptech security trends to provide your tenants with the best user experience – encouraging improved retention rates and generating more leads. Here, we will discuss the top proptech security trends for multifamily CRE investors and agents.
Touchless And Hygiene-Based Technology
When the pandemic began, businesses were faced with an urgent need to implement tools and technologies that promoted hygienic practices. Property investors must also consider hygiene as a priority.
Your tenants must feel that their building managers have their best interests and prioritize their health and safety. This is why you should consider investing in touchless and hygiene-based technologies.
Touchless and hygiene-based security technologies reduce the number of touchpoints your tenants must come into contact with as they move throughout the building daily. These touchpoints include door handles, pin pads, elevator buttons, and banisters.
You can implement antimicrobial surfaces to reduce the spread of germs on banisters, door handles, and elevator buttons, or you can implement touchless technologies.
Touchless door access control is the top feature for multi-family residential security solutions. The system uses digital access credentials, which your tenants can download and store on their mobile devices.
When they need to enter the building, they don’t have to touch a swipe pad or pin pad; all they need to do is wave their hand over the reader. The motion of their hand will trigger remote communication, allowing them to enter with their mobile credentials. They can enter even if the device is stored in their pocket or bag.
Some of the other benefits of implementing touchless access technology include:
- Your tenants can enter the building with their hands complete.
- Building managers can use a mobile application for workers and tenants to operate door locks.
- You reduce expenses caused by keycard and fob replacement.
Some touchless access control providers implement automated temperature reading at your building’s entrance. If the tenant, visitor, or contractor has a high fever, the system will restrict their access, and you can handle the incident at your discretion. It is essential to keep your building secure from symptomatic individuals and consider tenant health a number one priority.
You might also consider implementing wellness verification at your entrance to detect other symptoms as users enter the building.
Integrated Security Technologies
With a cloud-based and touchless access control comes the opportunity for open API integration. You can enhance the function of your existing security investments by establishing an integrated system. Some of the best integrations for multifamily residences include:
- Visitor management software – your tenants will have visitors. You need to document these visitors accurately to aid in an investigation should a crime occur on the property. You can automate the visitor management process with visitor management software. When visitors need to enter the building, they must fill out a digital form on their mobile device. Once they have entered their details, they will gain temporary access credentials to enter the building. When they leave, these credentials are revoked, and the system logs them out automatically for more accurate visitor logs.
- Integrated video and access control – if a third party steals access credentials, you can ensure they can’t enter the building by integrating access control and commercial video surveillance systems. A video intercom reader has built-in video surveillance and access control for easier identity verification at your building’s entrance, increasing tenant security.
- Wellness verification – you can perform health checks at your building’s entrance by implementing health surveys. Wellness verification software requires users to fill out forms about their symptoms before entering the building, restricting access for symptomatic individuals.
Automated Building Management Triggers
You can automate building management triggers based on access control events in your building. If a tenant enters a room, this will trigger the lighting, heating, and appliances in the room to switch on automatically. Connecting your building’s devices to the internet of things allows you to integrate this technology with access control.
Cloud-Based Security Technology
Cloud-based security technology provides a more user-friendly security experience for CRE investors and property managers. This is because it solves many issues regarding scalability with on-premise security systems.
With an on-premise system, scalability is extremely challenging. It requires a security installation expert to collaborate with building management on implementing detailed wiring systems that connect all security devices to servers and security hardware. If the property has more than one building, scalability becomes increasingly difficult.
On-premise systems also require maintenance, and system updates must be installed by an engineer visiting your location in person. The servers for the system will likely occupy a lot of space in your building.
A cloud-based security system offers more scalability because it requires minimal wiring – the system connects via network access, ensuring that property managers can adapt and evolve the system as its security needs grow.
A cloud-based system also permits over-the-air updates and troubleshooting that eliminate the need to manage visits from engineers and wait for their arrival – which could increase your system downtime. Since most of the data for a cloud-based security system is hosted on the cloud, the system requires less hardware and is more streamlined to save space.
Integrating Cyber And Physical Security
When you opt for cloud-based security technologies, it is essential to consider cybersecurity. If the remote operation features of your security system were accessible to a third party, this could put your tenants’ safety at risk. You can no longer consider cyber and physical security as distinct and separate entities. So, consider integrating cybersecurity software with your cloud-based security system and merging IT and physical security teams to improve overall security.
If you’re looking to revolutionize security and building management for your commercial multifamily real estate investments, consider cloud-based security. Cloud-based security allows property managers to integrate hygiene-based solutions and smoother visitor check-in. You could also save significant energy by automating building management triggers based on security events.