In a first-of-its-kind multifamily sector survey specifically examining technology, the NMHC/One11 Advisors Apartment Industry Technology Benchmarking Report is designed to establish an industry-wide baseline understanding of how apartment companies are supporting technology and innovation in their companies, as well as what challenges and opportunities they face as they deploy technology more extensively into their systems.
The survey aims to provide a snapshot of the many ways that technology is being addressed at apartment companies of different sizes. This information will provide a roadmap for NMHC members to create an internal ecosystem that helps them best take advantage of the opportunities provided by technology, while mitigating the risks.
Some of the most notable questions the survey answers include:
- Who is the head of IT? Only 30 percent are Chief Information Officers, 19 percent are Senior Vice Presidents, IT while more than 50 percent have other titles or there is no in-house head of IT.
- To whom does the head of IT report? In over half of responses, the head of IT reports directly either the CEO or CFO, though this tends to change with the size of a company.
- What percentage of IT spending is spent in-house? Interesting, 38 percent of respondents noted 80-100 percent of spending was in-house, while another 38 percent answered that 0-20 percent was in-house.
- Does your firm have staff dedicated to innovation? Only 32 percent answered affirmatively, while 68 percent did not have staff focused on innovation.
- Does your firm have internal staff dedicated to managing cybersecurity? While 57 percent of respondents noted they do, worryingly, 43 percent of those surveyed do not have staff focusing on cybersecurity.
This survey is intended to fill a void in information relating to numerous technology related issues that both NMHC and One11 believe would provide valuable insights to both apartment companies and the technology suppliers that support the apartment industry.
Learn more about the Apartment Industry Technology Benchmarking Report here.