The multifamily industry is buzzing with conversations about technology, but not always with clarity. In Season 3, Episode 2 of Allegion’s Solving for Multifamily podcast, Taylor Wiederkehr, Founder and CEO of PropTech IQ joined host Robert Gaulden, who has over 15 years of experience in the security industry, to talk about what it really takes to turn technology into value.
The episode, titled “The PropTech IQ Report: Making Every Dollar Count,” dives deep into how vendors and multifamily operators can move beyond hype to make data-informed decisions that drive results. With a deep background in multifamily innovation at Alliance Residential and BH Management, Whitaker brings a unique perspective on how data, not relationships, should drive tech decisions.
From Pitch Fatigue to Purposeful Innovation
During his time leading innovation at Alliance Residential, then the largest developer in the U.S., and later BH Management, Whitaker found himself overwhelmed by vendor pitches. In just one category, IoT, he evaluated seven vendors over nine months, spending millions with little clarity. The breakthrough came with a successful partnership with Google, rolling out 25,000 smart apartments. This experience highlighted the critical need for data-backed validation of proptech solutions.
Recognizing that smaller operators (who make up 85% of the U.S. multifamily market) lack resources for these large-scale pilots, Whitaker founded PropTech IQ. The platform aims to bring the same level of credibility and transparency once reserved for industry giants to every operator, regardless of portfolio size.
What PropTech IQ Actually Does
PropTech IQ is a sales enablement platform that creates comprehensive, data-rich reports comparing proptech vendors. For example, in the crowded IoT market with 15+ solution providers, the platform produces an “apples-to-apples” comparison, factoring in vendor pricing, market performance, and operational impact.
The reports pull from a wide range of data sources, including multifamily analytics, insurance claims, government datasets, and more. This allows operators to understand both the financial and operational implications of a tech investment. Metrics like ROI, NOI, IRR, and capex costs are broken down in formats that support 3-, 5-, 7-, and 10-year projections.
Real-Time Market Insights with Micro-Level Precision
By partnering with firms like DwellsyIQ and Hello Data, PropTech IQ accesses hyperlocal data to benchmark performance. For instance, PropTech IQ can compare a smart-enabled asset against similar nearby properties without tech adoption. The result? Clear evidence of improved leasing velocity and resident retention where tech is present.
In one analysis in the Tampa market, properties without IoT and Wi-Fi took 4–5 days longer to fill units and had lower resident retention rates. This kind of insight helps property managers tie tech investment directly to market competitiveness.
Beyond ROI: Vendor Model Transparency
The platform also scrutinizes vendor pricing models. For retrofit projects, timing matters. Vendors that charge upfront can delay ROI, while those with ramp-up pricing models reduce risk. PropTech IQ’s reports illustrate these nuances, helping clients choose vendors whose models align with their cash flow cycles and investment timelines.
This transparency is especially valuable in retrofit scenarios, where operational budgets are tight. Owners can see where tech investments save on maintenance, leasing, and resident support, effectively offsetting upfront costs with long-term efficiencies.
Tailored for Both Retrofits and New Developments
While retrofits dominate the multifamily market, roughly 30% of PropTech IQ’s assessments now apply to new developments. Forward-thinking developers use the reports to select tech stacks with proven impact in specific markets. In fact, some top-10 industry players are already using PropTech IQ to guide early-stage design and budgeting.
A soon-to-launch tool will offer even more value by delivering one-page market impact reports that don’t rely on vendor pricing, ideal for initial planning stages.
Smarter Portfolios, Not One-Size-Fits-All
Despite increased interest in portfolio-wide tech adoption, most implementations still happen property by property. Cost of labor, energy, and resident expectations vary widely across markets, so centralized strategies require localized customization.
However, one consistent trend is emerging: the demand for a unified resident experience. Whether it’s smart locks, Wi-Fi, or package delivery, residents expect seamless, app-based control. Technology has become part of the brand promise, and forward-looking owners are responding accordingly.
Which Tech Is Gaining the Most Traction?
IoT leads the way in terms of operational efficiency and ROI. Smart locks, thermostats, and leak detection sensors form the foundational trio. Together, they reduce maintenance time, enhance security, and improve resident satisfaction. More advanced systems like leak sensors that auto-shut valves add even more value.
Wi-Fi, while less efficiency-focused, remains a powerful retention and conversion tool. Owners often pass the cost to residents or monetize it internally, making it an attractive add-on during economic slowdowns when rent increases are harder to justify.
Right-Sized Decisions for Right-Sized Operators
Interestingly, the fastest adopters of PropTech IQ’s solution are midsize portfolios with 5,000 to 20,000 units. These operators are agile, have fewer bureaucratic layers, and rely heavily on third-party tools for competitive edge. They don’t wait for enterprise case studies; they act on real-time, third-party data.
Smaller operators benefit most from the clarity and confidence PropTech IQ provides, ensuring their investments are strategic, not speculative.
AI Is the Future—and It’s Already Here
AI plays a central role in PropTech IQ’s operations. Internally, it enhances communication, summarizes meetings, and streamlines workflows. More importantly, it powers the core of PropTech IQ’s product development.
The future of the platform includes an AI-driven “innovation leader” capable of recommending market-specific technologies based on property goals. By aggregating clean, real-time data, this AI assistant will help developers and operators make faster, smarter decisions without sitting through dozens of sales pitches.
Conclusion: Turning Technology into Tangible Value
In a market where every dollar counts, PropTech IQ is helping multifamily operators cut through the noise and make smarter, data-driven tech investments. By marrying deep industry expertise with robust analytics and AI, PropTech IQ is leveling the playing field.
Whether you’re planning a new development or retrofitting an existing asset, the value of data-driven decision-making can’t be overstated. As technology becomes table stakes, PropTech IQ ensures that your investment isn’t just trendy—it’s transformational.
Tune in to the full episode here to hear how PropTech IQ is helping the multifamily industry make smarter, data-driven tech investments.
