Since the majority of multifamily buildings fall into the small-to-medium-sized category, the multifamily industry as a whole could be subject to massive change in the next decade. Multifamily buildings generate mountains of data, whether it is being captured or not. With IoT-powered systems and cloud storage, facilities managers can retrieve historical data about their building to make smarter decisions. First, the cost of IoT devices and sensors are dropping quickly, making the initial investment smaller and shortening time to ROI. IoT-powered building automation can cost up to 5x less than traditional building automation systems, making BAS feasible for smaller buildings. Multifamily buildings present a unique set of challenges for facilities manager. The demands are different, as well- there are no “After hours” in a multifamily building, so system downtime is not an option. Thanks to IoT, every multifamily building can capture the benefits of building automation, but this is just the beginning of the disruption.
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