It’s a different world than it was even 10 years ago. There are now lots of smart devices that make our lives easier than ever. A smart home can add convenience, money-saving benefits and security. It’s no wonder many tenants, especially the younger generations, appreciate when rentals offer high-tech solutions.
Are you wondering what smart home solutions could potentially improve your rental unit? There are several options to consider, but we’ll go over some of the main ones that can help you boost the value of your rental.
Keep in mind, you will have upfront costs. However, choosing smart home solutions can actually improve your bottom line over time. This is because many of these solutions can reduce energy consumption. Several of the solutions can also lower your typical fuel expenses since you’ll be spending less time driving back and forth to your property.
Lighting
Smart lighting options can be used in various ways. You can use them in shared areas like laundry rooms, hallways and entrances. Some options offer the ability to sense if it’s daylight or if the room is occupied in order to set the lighting correctly. Smart lighting options also come in handy when you have a vacant property. You can use smart lighting to make the rental look lived in so it discourages burglars.
Security
To increase your rental’s security, you may want to add smart locks and cameras. When choosing smart locks, make sure to get something above the basic option that may not offer all of the features you’re looking for. Many smart locks allow you to conveniently change codes and allow entrance to vendors and guests remotely. Smart locks increase security since they aren’t easily broken into like a standard lock. Plus, once a tenant moves out, you can quickly and easily change the code. Smart security cameras allow you to easily keep watch of your property and be alerted if anything should happen.
Sensors
There are a few sensors you can add to your property to help catch a problem early on. One of the sensors you may want to invest in is a moisture sensor. You can place these near areas that could potentially leak (such as toilets, sinks, or the washing machine). If a leak occurs, you’ll be made aware of it through smart technology, allowing you to handle the problem with speed. There are also sensors that can be used for smoke and carbon monoxide detectors. They can alert you by phone if there’s smoke or CO2 present in the rental unit.
Thermostats
You can easily manage the temperature of rental units using smart technology. Smart thermostats offer several features. They can learn the occupant’s habits and adjust accordingly. Choosing smart thermostats can benefit whoever is paying the utilities by reducing the amount of energy used each month. This can benefit your wallet if you’re the payer or it can improve occupancy rates by appealing to the tenant who has to pay utilities.
Irrigation systems
Instead of worrying about watering the lawn, you can use a smart irrigation system. Depending on the irrigation system you choose, it may adapt how much water is needed based on the weather conditions. It allows you to cut down on unneeded watering while also improving your property’s curbside appeal with healthy greenery.
Many tenants will like that the home has smart technology. However, keep in mind, there are some that will be concerned about how it may affect their privacy. You need to be mindful of how you use these devices and where you put devices like cameras and sensors. It’s important for landlords to be respectful of their tenant’s privacy and follow any applicable laws.
When renting out your property, make sure that your tenants know about the devices and what they do. Reassure them that you’ll never use devices to violate their privacy. Talk with a property management company or lawyer about specifics regarding this and what needs to be covered in the lease.
If you’re looking to partner with a property management company that can help you care for tenants, contact us at PMI: . We’re here to help maximize your investment with trusted and experienced property management skills. We do everything we can to help you find the right tenants, improve occupancy rates and keep your property looking good. This gives you more time to spend doing the things that matter most to you.
