Some Toano property owners wonder if incorporating smart home technology in their rental property is the right investment. The short answer is that the possible returns for many different smart home devices actually vary. Having said that, what, then, are the most suitable smart home gadgets for a rental property? Let’s look at those that are in huge demand among renters across the country.
Advanced Safety Systems
According to data from a newly done survey, more than 75% of renters are willing to pay a premium rent for dwellings that incorporate several smart home features. Clearly, more than half of these renters said they would, without a doubt, pay an extra $20 or more for smart home features. Renters primarily desired three types of smart home equipment, with safety features particularly smart locks and smart doorbells topping the list.
Smart locks are electronic devices that entitle you and your tenant to secure or access a property without the function of a physical key. There are many different types of smart locks, but most are opened by using a phone app or a pin code. Tenants prefer smart locks due to the fact that they can easily check their home security from their phones, and on the other hand, Toano property managers adopt smart locks because they want to keep away from the need to replace locks when tenants change. Smart doorbells, however, can be to the advantage of tenants to filter guests and easily monitor who comes and go from the property. This security feature might be very irresistible, chiefly to younger adult tenants who appreciate having an eye on their home and valuables at all times.
Smart Energy Management
Tenants are also very much interested in smart home devices that help them monitor and cut utility expenses. Smart thermostats, smart light bulbs, and smart plugs are all prevalent products that can be used and managed via a smartphone app. The app warrants you to control the thermostat temperature, turn on and off lights, and turn off energy to outlets. These gadgets assist to save energy and prevent the risk of fire or other hazards initiated by leaving things on. The fact that these devices are financially reasonable to install but may be a huge come-on for renters is surely the greatest benefit for property owners.
One last matter to touch on, moisture sensors are smart home gadgets that extend countless benefits to both tenants and property owners. Water leaks are one of the most common issues that tenants and property owners confront. Basements, under cabinets, and behind appliances are all very prevalent issue spots where water leaks can form and go undiscovered for a great deal of time. Water damage is an expensive repair, definitely, if it has progressed to the point where wood rot or mold has developed and expanded. Incorporating smart moisture sensors can be to your advantage to help you in detecting water leaks earlier and scheduling necessary maintenance and repairs very quickly and favorably. Your tenant will be relieved that water-related damage has been avoided, and you will save money by steering away from financially excessive emergency repairs.
By way of conclusion, the best smart home tech for your rental property are actually those devices that will pay you back in higher rent or happier tenants – or both. It may, on top of everything else, attract a more tech-savvy renter demographic to your rental property if that is something you’ve wished to do.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.