Many Leander rental property owners worry whether it’s a worthwhile investment to have smart home gadgets installed in their rental property. The basic answer is that the expected returns on different smart home devices vary. So, which smart home devices are most appropriate for a rental property? Let’s take a look at those that are in high demand among renters nationwide.
Tech-Enhanced Safety
According to a recent survey, more than 75% of tenants are willing to pay a higher rent for apartments equipped with certain smart home features. Over half of these tenants indicated that they would spend an additional $20 or more on smart home features. Renters indicated a preference for three distinct types of smart home devices—security features, such as smart locks and doorbells, were at the top of this list.
Smart locks are devices that let you and your renter secure or get into a home without having a physical key. Smart locks come in a variety of styles, but the majority may be opened with a phone app or a pin code. Leander property managers like smart locks because they don’t have to change the locks every time you move in a new tenant. Smart locks are good for both tenants and property managers.
On the other side, smart doorbells allow tenants to screen guests and keep a watch on everyone coming in and out of the property. If you’re a young adult who likes to keep an eye on your home and things, this could be a big deal.
Smart Utilities
Tenants also desire smart home devices that help them monitor and save money on their utility bills. Smart thermostats, smart light bulbs, and smart plugs are all popular gadgets that can be managed remotely via a smartphone app. To control things like the thermostat and lights through the app is possible. You can also stop electricity from going to outlets.
These gadgets can help save money on electricity while also reducing the risk of fire or other hazards caused by leaving things on. The fact that these gadgets are relatively affordable to install while being a significant appeal for renters is perhaps the largest benefit for property owners.
Water Sensors
Finally, moisture sensors are smart home gadgets that provide a lot of value to both tenants and property owners. Water leaks are one of the most common issues that tenants and property owners encounter. Basements, under cabinets, and behind appliances are all well-known trouble spots where water leaks can form and go undiscovered for long periods of time. Water damage is costly to repair, especially if it has progressed to the point where wood rot or mold has developed.
Smart moisture sensors can help you detect water leaks sooner and schedule maintenance and repairs more efficiently. Your tenant will be relieved to avoid water-related damage, and you will save money by avoiding expensive emergency repairs.
Finally, the greatest smart home technology for your rental property is one that will pay for itself in increased rent or happier tenants – or both. If you’ve hoped to attract a more tech-savvy renter demographic to your rental home, this is a good way to accomplish it.
Real Property Management Longhorn can help you optimize your profits and modernize your rental property. Contact us online today!
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