Many Lookout Mountain landlords worry if installing smart home devices in their rental properties is a good investment. The basic answer is that the expected returns on different smart home devices vary. So, which smart home gadgets are best for a rental home? Let’s take a look at some of the most popular among renters across the country.
Tech-Enhanced Safety
According to a recent survey, more than 75% of renters are willing to pay a premium rent for residences with smart home technologies. More than half of these tenants thought that smart home features would be worth an extra $20 or more to them. Renters stated they desired three sorts of smart home gadgets 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. There are many types of smart locks, but most are unlocked using a phone app or pin code. Renters enjoy smart locks because they can monitor their home security from their phones, while Lookout Mountain property managers appreciate smart locks since you don’t need to replace the locks each time you change tenants.
On the other side, smart doorbells allow tenants to screen guests and keep a watch on everyone coming in and out of the property. This security feature might be a significant draw, especially for younger adult tenants who prefer to keep an eye on their homes and valuables.
Smart Utilities
Another kind of smart home device that tenants demand are those that help monitor and cut utility expenses. Smart thermostats, smart light bulbs, and smart plugs are all commonly accessible gadgets that can be controlled using a smartphone app. Through the app, it is able to alter the thermostat temperature, turn lights on and off, and turn off energy to outlets.
These devices assist cut energy expenditures, and they can also help lessen the risk of fire or other hazards from leaving things on. Perhaps the biggest benefit for property owners is that these devices are relatively inexpensive to install yet may be a significant magnet for renters.
Water Sensors
Finally, moisture sensors are smart home gadgets with a lot to offer 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 well-known issue spots where water leaks can form and go undiscovered for some time. Water damage is an expensive fix, especially if it’s progressed over time to the point where wood rot or mold has set in.
Installing smart moisture sensors can help you discover water leaks early and arrange for needed maintenance and repairs swiftly and at your convenience. Your tenant will be relieved to avoid water-related damage, and you will save money by avoiding expensive emergency repairs.
Ultimately, the finest smart home equipment for your rental property are those devices that will pay you back in greater rent or happier tenants – or both. It may also attract a more tech-savvy renter population to your rental property if that is something you’ve wanted to do.
Real Property Management Your Home can help you optimize your profits and modernize your rental property. Contact us online today!
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