Smart Cards

A “smart card” has a computer chip that can contain up to 4 million bytes of memory and is inserted into card readers rather than swiped. The most common type of smart card used on apartment properties is the integrated circuit (IC) memory card. Residents receive an IC processor smart card that can be customized for individual use and identification (including the resident’s photograph and apartment community logo on the front). It is also used to store money electronically and can control access to a building lobby, recreation room, swimming pool, or any common area.

One common use of the smart card is in the laundry room. It can be used to operate the washer and dryer without ever having to worry about carrying quarters. When the card is inserted into the card reader of a washer or dryer, the cost is deducted.

Vending machines can be modified to accept smart cards; by eliminating actual money, there is far less risk of theft or vandalism. To accommodate the increasing numbers of people who work at home, some apartment communities offer a general-use office space with computers, a fax machine, and a copy machine. The use of smart cards allows residents to conduct their business without disturbing the leasing office for correct change. Internet access charges can be billed to individual accounts using a special reader card hooked up to the computer.

The convenience of smart cards to residents is clear. But management benefits as well. Electronic payments are much easier to reconcile than non-electronic payments, and the use of card readers could reduce maintenance for pay phones, vending machines, etc. However, there may be technical glitches with card readers that require repair.

Most likely, revenues from laundry and other services will increase by 10 to 30 percent with the use of smart cards. As smart card use continues to spread, the cost of card readers continues to drop.