After decades in the multifamily industry, Wasatch began seeing a shift in the consumer landscape. Prospects were becoming less impressed with traditional amenity packages that included pools, gyms, and television and internet services. So Wasatch set out to find a way to stay a step ahead of multifamily communities competing in noisy markets.
22 Communities in 5 states and 3000 units
After looking into different options of the latest amenities to upgrade in their communities, the Wasatch team found that smart apartment technology would offer residents a new, more appealing amenities package. The technology gives them control over their home and access to home automation features that have largely been unavailable to renters until now. The team also observed that both their residents and management could benefit greatly from the implementation of an easy to use smart apartment platform. But they needed to find a solution that gave their residents control of their individual unit, while offering Wasatch management control over the community as a whole, without sacrificing tenant privacy or pricing them out of the market. What they found was a lot of standalone IoT products, complicated interfaces, and technology that wasn’t designed with the needs of multifamily communities in mind.
CHOOSING DWELO AS A PARTNER
After researching the top smart home technology platforms, Wasatch found Dwelo, the smart apartment platform designed specifically for the multifamily industry.
Dwelo gave Wasatch the ability to offer their residents a simple and intuitive way to control the smart devices in their apartment while also giving property managers control over vacant residences and the technology in the community as a whole. Wasatch had finally found a solution designed with their concerns and challenges as multifamily property owners in mind.
From Pilot to Portfolio
After piloting Dwelo at a few communities, Wasatch made a major push. They implemented Dwelo in 20 communities across 5 states in just 2 months. “We’ve been very impressed with Dwelo’s ability to ensure success across our portfolio in such a short period of time” says Jarom Johnson, COO at Wasatch. Wasatch now has more than 3,000 total units on the Dwelo platform with more coming. The impact to their bottom line is significant.
According to Scott Stettler, Wasatch’s CFO, “Dwelo provided a $540,000 revenue lift across Wasatch’s portfolio in 2017 year and we are projecting a $1,000,000 revenue lift in 2018. Technology presents so many opportunities for us and we feel like we’re well positioned to take advantage of it with Dwelo.”
“Dwelo has really changed the game for us,” added Johnson. “Now that we have this technology across our communities our residents have premium amenities that they use daily, our managers have a better handle on the properties, and we stand out as leaders in the multifamily industry.”