Smart technology in the home has come a long way in a short amount of time. Many renters are already accustomed to using smart tech in daily life; virtual personal assistants such as Amazon Echo and Google Home have been widely adopted. Because of their widespread popularity (and portability), landlords should focus on other innovations when investing in smart technology for their properties.
The goal of integrating smart devices is to increase the comfort, security, and cost of daily life. Property owners who want to make the most of their investments should reflect on whether this goal is being met by new technology.
Utilizing smart home solutions can benefit property owners in a number of ways. While smart home technology can lead to greater tenant satisfaction, it also boosts the marketability of listings and increases profits for landlords. To gain a marketing advantage, consider investing in technology such as the following:
Energy efficiency is important to renters; it is a great selling point if you are marketing to a more eco-conscious demographic such as younger renters. Outfitting your rental with energy saving technology will give your tenants peace of mind while also saving them money. One example of technology that can affect their comfort and costs is smart thermostats. With the help of an app, smart thermostats allow a smartphone to control the temperature of the rental remotely. Smart thermostats can also keep track of information such as the HVAC system’s run time and the quality of air filters.
Another way to attract renters is by replacing lightbulbs with their smart tech alternative. Like smart thermostats, smart lighting gives smartphone users the ability to turn lights on and off with the tap of a screen. Newer models can be dimmed or set on a timer, so renters won’t have to worry about whether the kitchen light was turned off or not. This smart technology feature saves money and energy for renters, making smart lighting a great choice for property owners to invest in.
Tenants look for security in potential homes, and smart video monitoring can add to your property’s safety. Exterior video monitoring systems allow renters to see who is at the door or entryway of their home, while interior systems let them check in on children, pets, and valuables. Although video monitoring is in high demand by renters, including video monitoring in a property necessitates trust between the tenant and owner.
Smart door locks replace a key with a keypad and code; this has benefits for both tenants and property owners. For tenants, the added security and convenience of a keyless door entry is a major benefit. With a smart lock, property owners no longer need to replace keys (or locks entirely) between tenants. Simply changing the code will make the transition easier for landlords.
Smart technology in the home can be the source of revenue growth for property owners. Not only do innovations serve as marketing tools—they also ensure your tenants are safe and comfortable in their home.