Many landlords in Houston worry if installing smart home gadgets in their rental property is a good investment. The short answer is that predicted returns on investment for various smart home devices vary. Therefore, 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 renters are willing to pay more for properties with smart home technologies. Over half of these tenants indicated they would spend an additional $20 or more on smart home features. Renters stated they desired three sorts of smart home devices in particular: safety features, such as smart locks and smart doorbells, were at the top of the list.
Smart locks are gadgets that allow you and your tenant to secure or access a property without 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. Tenants prefer smart locks because they enable them to monitor their home security remotely, while Houston property managers prefer smart locks because they eliminate the need to replace locks when tenants change.
Smart doorbells, on the other hand, allow tenants to screen guests and keep a watch on who comes and goes from their homes. 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
Another group of smart home devices that tenants want are those that help them keep an eye on and cut down on their utility costs. Smart thermostats, smart light bulbs, and smart plugs are all common items that can be controlled with 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. Perhaps the most significant advantage for property owners is that these devices are relatively inexpensive to install yet can be a significant selling point for renters.
Water Sensors
Finally, moisture sensors are intelligent home gadgets that provide numerous benefits to both tenants and property owners. One of the major difficulties tenants and property owners experience is water leaks. Basements, under cabinets, and behind appliances are all places where water leaks can happen and go unnoticed for a long time. Water damage can be very costly to fix, especially if it has been going on for a long time and has caused wood rot or mold.
Installing smart moisture sensors enables you to detect water leaks more quickly and conveniently, as well as plan necessary maintenance and repairs. 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 can reward you with increased rent or happier tenants – or both. It may also help you attract a more tech-savvy tenant population to your rental home, something you may have desired.
Real Property Management West can help you optimize your profits and modernize your rental property. Contact us online today!
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