Economic experts predict that the current economy and shifting demographics will expand the number of people who will rent instead of buy housing in the next several years. Rental companies, developers, and building managers are turning to technological updates as a way to stay on top in the increasing competitive market.
Demographer Peter Francese, former president of American Demographics magazine, projects the number of households formed by people under the age of 35, who mainly rent rather than own, will expand faster than the overall population. That age group also spends more time on the Internet than watching TV; a trend companies are paying attention to when challenged with ways to attract the new renters.
To give them an extra edge, property managers and builders are choosing to provide robust structured wiring networks, wired to commercial codes, so that tenants can connect their devices as soon as they move in. Scott Duckett, executive vice president and chief business development officer with developer Campus Advantage in Texas sees such technological updates and building design as a necessity in this market. In an interview with Multifamily Executive Magazine, Duckett said, “We're designing properties with built-in iPod® and iPhone® docks in the units, the buildings are all hard-wired, and then boosted with wireless overlay. With technology changing as rapidly as it does, staying on top of that is crucial, and buildings that lack the infrastructure necessary to use today's technology are going to be at market disadvantage."
Leviton gives contractors, developers, and property managers the right technology to help increase occupancy rates and have the preferred property in the neighborhood. Our market-leading structured cabling and Connected Home solutions make it easy for renters to connect using the highest performance audio, video, voice, and data networks available.
Take a look inside a Leviton Structured Media Enclosure — the nerve center of a connected home — and see how you can gain an advantage through our enterprise-grade connectivity systems.