Smart devices for rental homes may seem like too much. As a landlord, you may think that it’s an expensive and absurd idea, but hear us out, and you will see how this absurd idea can benefit you in the long run.
Did you know that this technology can up your game and give you an edge over your competition? Not only this, but also the renting pool at the moment is full to brim with Millennials who cannot survive without smart devices. Hence incorporating these smart gadgets into your rental property can actually help you keep your occupancy rate high. Moreover, it will also help you increase the value of your property, and we all know when the property value increase, the rent raise automatically increases.
Long gone is the time when smart devices were only for private homes, landlords, as well as property managers, are adapting to the new world order, and smart devices are a huge part of it. If you aren’t too sure of which technology to opt for, here’s our detailed guide to help you add smart technology in many different ways to your rental and reap massive benefits.
Get the Competitive Edge:
We are all aware of how the rental pool is dominated by Millennials; hence we need to provide them with the best of their world. Millennials grew up playing with technology; it’s a big part of their lives. So, when they are given a choice between with technology and without technology rental, we all know which one they would go for. You will find that Millennials are willing to pay extra bucks to rent a property that is well equipped with smart devices.
The number of Millennials willing to pay for smart spaces is increases day by day; this also increases the demand for such properties. If you are eager to broaden your horizons by incorporating intelligent devices in your rental, you will most definitely have the edge over your competition. There is no doubt that smart devices, as well as technology, can increase the attraction as well as the value of your rental property.
Technology Is The Ultimate Convenience:
You can make life a lot easier for yourself and your tenant if you understand that this isn’t a phase but a necessity. Adding smart devices and incorporating technology into your rental has now become a norm in the market. Technology is convenience; you can easily control the temperature of your building, monitor your tenants as well as the property with the help of cameras from your smartphones. You can also manage the smart lights of your smart property to lessen your energy bills. This not only saves money but also time and effort on your part. As a landlord, you have better things to worry about.
Imagine driving all the way to the other side of the town to open the door for a tenant who has locked himself out of the property. Tiresome, isn’t it? Well, with a smart lock system, you can open the lock from the other side of the town without leaving the comfort of your bed. Save your money, energy, time as well as sanity and plan to install smart devices in your apartment.
Benefit for tenants:
Here’s s fun fact, tell your tenants that your smart devices will save them 10% on their heating and cooling bills. This is a fact, according to the study of Buttonwood rental property management. Your smart device isn’t only profitable to you but also to your tenants, and this can give you a very favorable advantage over your competitors.
Technology Gives Your Smart Security:
We all know how secured and gated communities are the number one priority of families with kids. Most tenants have security on the top of their list when they are searching for rental properties. Lack of security can also make them leave their rental before time. You can save yourself this entire hassle by installing smart security cameras and gadgets. The time for alarms, codes, and a lock and key is gone. In this day and era, you need smart security to keep your rental property safe and your tenants sane. By installing a smart security system, you give your tenants the option to monitor their home efficiently as well as let their guests in with just on tap on their phones. This same camera system can help landlord monitor their tenants as well. You can make sure that no tenant breaks the rules with the help of these smart security cameras.
Where to begin and what to install:
Now, after reading all the benefits of smart devices and technology, you must be wondering where to state and what to install as the market is full to brim with a number of smart devices. Here are a couple of ways you can start and add smart devices to your rental property.
Go with the flow:
At the moment, the new age tenants are looking for general safety as well as efficiency. So, this is an excellent point to start with. You can add smart lights, smart security system, as well as safety sensors to attract the new generation tenants. Adding general smart devices will attract a wide variety of tenants.
Security is one aspect that every tenant is very concerned about. It not only adds safety and comfort, but it’s also very convenient. Smart locks, as well as cameras, add a lot to the security system of the house. A smart lock can either be opened by the landlord or the authorized tenants. This doubles the security of the rental property and keeps your tenants extra safe. Automated and smart light around the camera will also help you detect any movement around those areas so that you will know exactly who is coming to your place at what time.
Lastly, you can attract better tenants by adding smart appliances around the house that not only add convenience but also help decrease the utility bills. Robot vacuums, smart fridges, and dryer will add that perfect touch to your smart rental.