Beyond the Buzzword: Real-World NOI Gains from Proptech Adoption

In today’s competitive rental market, existing multifamily property owners can’t afford for “proptech” to remain just a trendy term. For operators of Class A and B buildings—particularly those managing older assets—the right technology isn’t a luxury. It’s a direct lever for growing Net Operating Income (NOI).

Let’s break down how thoughtful adoption of proptech, especially seamless electronic access control, is delivering measurable returns in the aftermarket landscape.

Unlocking Efficiency with Smarter Access

Traditional lock-and-key systems can be both a logistical headache and a potential liability if not properly managed. Transitioning to electronic access control solutions offers more than just convenience:

Streamlined operations: No more rekeying, lost key replacements, or manual lockouts—saving thousands annually while improving overall staff satisfaction.
Vendor & contractor management: Temporary access codes or mobile credentials can simplify on-site services without compromising security.
Resident experience: Keyless entry appeals to modern renters, supports self-guided tours, and reduces staff workload – freeing them up to focus on more revenue-generating opportunities.

Together, these efficiency gains translate to lower operating expenses and higher renter retention, both crucial drivers of NOI.

Retrofitting, Not Rebuilding

Owners of existing properties often assume proptech upgrades demand massive capex or full renovations. In reality, many solutions—especially access control—can be non-invasive and modular, integrating into legacy infrastructure.

Cloud-based platforms eliminate the need for complex on-prem servers.
Wireless locks like the Schlage XE360 Series and mobile credentials reduce complicated wiring and install time.
Integration with other systems (intercoms, gates, PMS platforms) supports long-term scalability, allowing the property’s tech stack to grow over time.

This means that even a decades-old mid-rise can begin operating like a best-in-class new build property without breaking the budget.

Data as a Strategic Asset

Modern access systems, like Zentra, generate powerful data—who's coming, going, and when. When used strategically, that data becomes an insightful business tool:

Optimize staffing schedules based on foot traffic.
Improve leasing conversion rates with insights into touring activity.
Strengthen risk management and emergency response protocols.

More data combined with better operational decisions can lead to a stronger NOI.

NOI in Practice: What the Industry Is Seeing

Across the multifamily sector—especially among Class A and B properties—owners who invest in proptech upgrades are reporting tangible improvements in key performance areas:

Maintenance teams experience fewer service calls related to lockouts and rekeying, freeing them up for more valuable tasks.
Turnover timelines are tightening thanks to easier vendor scheduling and remote access provisioning.
Resident satisfaction is trending upward, with renters citing enhanced security, convenience and modern amenities as top reasons for renewing leases.

While results vary by property and platform, the overarching trend is clear: smarter operations lead to stronger financial performance. In a competitive market, even incremental gains in efficiency and retention can significantly impact NOI over time.

Proptech as a Value Multiplier

Smart technology won’t replace strong property management—but it can enhance it. For aftermarket owners, it’s time to move beyond the buzz and treat access control and related tools as strategic investments that deliver recurring operational value.

Your NOI will thank you.

Ready to explore a solution that fits your property's needs, budget, and timeline? Have questions you want answered before going all in? Connect with an Allegion multifamily consultant to start planning a tailored upgrade strategy today.

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Beyond the Buzzword: Real-World NOI Gains from Proptech Adoption

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