where they can unlock the front door, access locked amenity spaces, and open their apartment door from one simple smartphone app? Today, access control providers hyper-focused on the user experience are partnering with like- minded proptech providers to expand their capabilities. ButterflyMX’s recent integration with RemoteLock is one example of unified access control’s future. By installing the smart video intercom at the front door and enabling integration with RemoteLock, a building can add smart locks throughout the property and connect them with the intercom. As a result, residents don’t have to carry multiple keys or fobs; instead, they control all access points with one mobile app. Installing property access control devices is always a good idea. But building owners and managers will save time and enjoy a greater ROI by opting for a unified access solution, where everything is managed through one user-friendly platform.
to oversee property access 24/7, especially during the third shift. UNIFIED ACCESS CONTROL INCREASES TENANT RETENTION . According to Multifamily Insider, it costs about $4,000 to turn over a tenant, so it’s worth investing in solutions that improve the resident experience and, ultimately, prevent turnover. And a convenient access experience is one of the most valuable amenities a building can offer. Properties with unified access control empower residents to unlock doors and navigate the building seamlessly, usually with just a smartphone. And, since all access control devices are managed within one platform, the chances of an access permission mishap are slim. In other words, residents will always have access specific to their individual needs, with little effort from ownership or management. If there is a last-minute problem, management can solve it easily, even if they’re away from the
property. That’s a vast improvement compared to the time it takes to troubleshoot several individual key card or keypad systems. A unified access control system also gives property managers more time to focus on providing personalized services to residents. Staff who aren’t occupied with copying keys and managing multiple systems can add a human touch to the resident experience. When residents establish a personal connection to a property, they’re more likely to renew their leases. UNIFIED ACCESS CONTROL BOOSTS REVENUE. Unified access control doesn’t just cut down on costs. It opens up entirely new avenues of increased revenue and ROI. According to a Rent.com survey, renters are willing to pay up to $52 more per month for an apartment with smart technology. That extra money is buying security, convenience, and ease of access. Who wouldn’t want to live in a building
Aaron Rudenstine is chief executive officer of ButterflyMX, the leading provider of access control technology for multifamily, commercial, gated
communities, and student housing properties. Rudenstine specializes in building high- performing teams to launch and grow new technology products. He was a co-founder of Citymaps, which was acquired by TripAdvisor in 2016, and he is an investor in reddit, Button, Omaze, HENRY The Dentist, Parallel Wireless, Clear Ballot, Pinata, and FilmRise. Rudenstine is an angel investor, board member, advisor, author, and a results-oriented technology executive with extensive experience at startups, growth-stage, and publicly traded companies. He holds an MBA from Harvard.
16 :: INVESTOR REVIEW :: NOV-DEC 2022
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