Prop Tech in 2024

I know that not all older properties can be retrofitted to accommodate technology upgrades regarding HVAC, security and internet access. But many can, and should, as 90% of 172,000 survey respondents ranked high-speed internet as their #3 priority in renting, behind AC and in-unit washer/dryers. And 86% said reliable cell reception is their #1 community amenity. The article cites investment in proptech having tripled between 2022 and 2023 to $13.4 billion, a staggering amount. So if your property is not ‘tech modern,’ you should strongly consider some upgrades to your investment. Be sure to contact an experienced professional in evaluating the ability of your property to accommodate the upgrades. If without, I think one can argue the need is definitely there.
Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management, brokerage listings and sales, and all aspects of a multifamily investment. Specific diligence regards property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets which it defines generally as 10-to-60-unit properties.
Please find us at or contact us at 801-550-5684 to learn about the real estate services the firm provides. To subscribe to the firm’s newsletter addressing events of the day please follow this link Newsletters.

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