There is no doubt that technology adoption is expanding at an accelerated rate.  Affordable mobile devices like cell phones and tablets have leveled the playing field for all socioeconomic groups.  These devices are accessible, low cost and easy to use.  Effectively they have changed the way consumers interact and expect to interact with their friends, family and yes, even their landlords.

J. Turner Research performed a study of 10,000 MDU residents in recent years.  According to the study, 64 % of apartment dwellers say they would move or not renew their lease if they were dissatisfied with the speed of their Internet service.  Additionally, residents noted that they spend about 5 hours per day on the internet.  That’s a lot of surfing, shopping and connecting via social media.

And while internet speeds and device adoption may be old news in the industry, they are important factors for MDU developers and MDU management companies. Beyond connecting residents to high speed internet, what are key consumer trends?

First and foremost, the connected home has finally started to make traction in the consumer segment.  Leveraging the Internet of Things (IOT) such as the Nest, DropCam, home security and other wireless based applications, consumers are looking for ways the manage their household, secure their property and improve their overall quality of life.  Creative Choice Group is based in Florida where we have a great deal of senior citizens.  They are often subject to scams or targets of criminal activity.  Protecting loved ones is a key driver to the success of the connected home.

The good news for consumers is that the devices themselves are now more affordable and sold through major retailers from Home Depot to Walmart.  Additionally, the integration of these devices in the home are now plug and play, meaning no customized installs that were once reserved for only the most exclusive residents. So whether you are a valued front line employee with Etech Global Solutions or an executive at Creative Choice Group, this technology is an affordable option for just about anyone.

Second, social media is here to stay. Consumers are using tools like Facebook and Twitter to share their feelings with the world.  For the average business owner, the idea of tweeting and posting may sound silly.  But in our fast paced world, these tools provide the ultimate real-time PR for even the smallest firm.  Failing to get in the game and manage your online relationships with existing and future customers is a missed opportunity.  Social media can be more than a PR tool as well.  It can be the ultimate sales channel.  Encouraging your residents to “like” your Facebook page or follow you on Twitter enhances your brand awareness.  This is a great way to prospect for new clients and promote your property on a targeted basis.

Managing low income housing properties has many challenges. However the consumer wants and needs of low income residents mirror those of higher income households.  Finding a way to enable the right technology will improve your overall occupancy rate and make your building more desirable than others.  Success could be only a tweet away!