The majority of Madison property owners are seriously looking into whether or not installing smart home technology in their rental property is a suitable and worthwhile investment. The short answer is that the anticipated returns for a lot of smart home devices greatly vary. In connection to this, what are the ideal smart home gadgets for a rental property? Let’s look at those that are currently in great demand among renters across the country.
Advanced Safety Systems
As specified by the latest surveys, more than 75% of renters are willing to pay a premium rent for dwellings that actually provide diverse smart home features. Most certainly, more than half of these renters said they would willingly dispense an extra $20 or more for smart home features. Renters also commonly request three types of smart home equipment, with safety features, that is to say smart locks and smart doorbells, topping the list.
Smart locks are electronic devices that can help you and your tenant to secure or access a property without the service of a physical key. There are several types of smart locks, but really, the majority are opened by just using a phone app or a pin code. Tenants prefer smart locks simply because they can follow closely their home security from their phones, while Madison property managers elect to choose smart locks for the reason that they want to get away from the need to replace locks when tenants change. Smart doorbells, on top of that, help tenants to filter guests and look into who is coming in and going out from the property. This security feature might be very inviting, particularly to younger adult tenants who relish closely monitoring and being informed of their home and valuables.
Smart Energy Management
Tenants are, in particular, also interested in smart home devices that help attentively monitor and cut utility expenses. Smart thermostats, smart light bulbs, and smart plugs are all basic products that can be dealt with and managed via a smartphone app. The app can be greatly helpful to you to effectively 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 mostly started by leaving things on. The fact that these devices are more or less inexpensive to install but may also be a huge attraction for renters is certainly the most notable benefit for property owners.
Lastly, moisture sensors are smart home gadgets that offer lots 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 the usual issue spots where water leaks can form and go undiscovered for a considerable amount of time. Water damage is an expensive repair, expressly if it has progressed to the point where wood rot or mold has grown. Merely installing smart moisture sensors can greatly help you in detecting water leaks earlier and scheduling necessary maintenance and repairs in a flash and opportunely. Your tenant will be joyfully relieved that water-related damage has been avoided, and you will certainly save money by refraining from uneconomical emergency repairs.
On that note, the most suitable 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 additionally invite a more tech-savvy renter demographic to your rental property if that is something you’ve really wanted to do.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.