A number of Ransom Canyon property owners wonder if providing smart home technology in their rental property is a good investment. The short answer is that the prospective returns for different smart home devices vary. Hence, what are the appropriate smart home gadgets for a rental property? Let’s look at those that have a strong demand among renters across the country.
Advanced Safety Systems
As stated by a recent survey, more than 75% of renters are willing to pay a premium rent for dwellings that integrate diverse smart home features. Certainly, more than half of these renters said they would repay an extra $20 or more for smart home features. Renters, in particular, call for three types of smart home equipment, with safety features, for instance, smart locks and smart doorbells topping the list.
Smart locks are electronic devices that let you and your tenant secure or access a property without the usage of a physical key. There are numerous types of smart locks, although the majority are opened by making use of a phone app or a pin code. Tenants prefer smart locks considering they can check on their home security from their phones, while on the other hand, Ransom Canyon property managers pick smart locks since they want to avoid the need to replace locks when tenants change. Smart doorbells, though, enable tenants to filter guests and determine who comes in and out from the property. This security feature might be very alluring, above all, to younger adult tenants who like having a close eye on their home and valuables.
Smart Energy Management
Tenants are equally interested in smart home devices that help check and cut utility expenses. Smart thermostats, smart light bulbs, and smart plugs are all renowned products that can be managed via a smartphone app. The app entitles 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 traceable to leaving things on. The fact that these devices are very affordable to install although may be a great enticement for renters is probably the most primal benefit for property owners.
One last thing, moisture sensors are smart home gadgets that give plenty of 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 known issue spots where water leaks can form and go undiscovered for quite a long time. Water damage is an expensive repair, primarily if it has progressed to the point where wood rot or mold has been created. Installing smart moisture sensors can easily help you in detecting water leaks earlier and schedule necessary maintenance and repairs more swiftly and suitably. Your tenant will be relieved that water-related damage has been avoided, and you will save money by evading financially wasteful emergency repairs.
In the long run, the most advantageous smart home tech for your rental property are those devices that will pay you back in higher rent or happier tenants – or both. It may further draw a more tech-savvy renter demographic to your rental property if that is something you’ve longed to do.
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