If you are thinking about the next generation of renters and the image that pops into your head is that of adults that are in their 40s then you are correct. These individuals have shown a promising increase leaning towards them being the next big group of renters to hit the market. These people though have needs and want that are significantly different from those of the previous generations. As a property owner in Williamsburg, it is up to you to make sure that your rental homes have the necessary upgrades that will keep it up to date and at par with what is trending in the single-family rental home market. This way, you know you know your property can compete against other properties.
With the increase of handheld smart technologies, smart homes are becoming more commonplace. Numerous young renters have grown up with certain smart technologies in their family homes, including smart thermostats and lighting. With these technologies, it’s possible to adjust a thermostat or turn lights on or off with a few clicks. These technologies are not just fancy extras: smart technologies can greatly impact the performance of a rental home, as well as bring in quality, long-term residents. Let’s consider taking a closer look at smart thermostats and lighting, and what benefits they might offer you as a rental property owner.
Upgrading to a Smart Thermostat
What makes a thermostat “smart”? Smart thermostats are technically programmable thermostats that learn from your behaviors. And because they track energy consumption in real time, they enable you to formulate automated, and programmable temperature environments based on daily schedules, weather conditions, and heating and cooling need remotely. The thing is though, smart thermostats are a bit expensive, however smart thermostats can save residents hundreds of dollars each year on energy costs because of its automatic functions, so they limit the run time of your HVAC systems.
Upgrading to Smart Lighting
Smart lighting, like smart thermostats, is a lighting system devised to save heating and cooling costs. High-efficiency fixtures and automated controls can remotely adjust the lighting in your home from anywhere, it can also give you greater control over the lighting effects, and it can adjust automatically based on how many are there in the home and how bright it is outside. Smart lighting can be programmed, controlled with an app, or otherwise customized to conserve energy and improve security. Among the smart technology upgrades, smart lighting is one of the easiest and least expensive options, which makes it a great place to start.
For the tech-savvy renters of today, the safety, convenience, and efficiency of smart technologies is a strong draw. Rental property owners with these features may find great success in attracting the under-40 crowd by upgrading to one or more smart features. For more information, please contact us online or call us at 757-251-9188.
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