Many Winooski rental property owners ask whether it’s a worthwhile investment to install smart home gadgets in their rental property. 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 some of the most popular ones among renters around the United States.
Tech-Enhanced Safety
According to a recent survey, more than 75% of renters are willing to pay a premium for homes equipped with specific smart home capabilities. More than half of these tenants believed that smart home features would be worth an extra $20 or more. 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 electronic locks that enable you and your tenants to secure or access a property without the use of a physical key. There are various types of smart locks, but the majority are opened using a smartphone app or a pin code. Tenants prefer smart locks because they can monitor their home security from their phones, and Winooski property managers prefer smart locks because they eliminate the need to replace locks every time a tenant moves out.
Smart doorbells, on the other hand, allow tenants to screen visitors and keep an eye on everyone who comes and goes from their home or apartment. This security function might be a significant selling point, particularly for younger adult tenants who enjoy keeping an eye on their homes and possessions.
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. The thermostat temperature can be adjusted, lights can be turned on and off, and outlets may be turned off using the app.
These gadgets assist in lowering energy expenses and also help lessen the risk of fire or other hazards associated with 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. In both cases, water leaks are a big problem. Basements, under cabinets, and behind appliances are all places where water leaks can happen and go unnoticed for a long time. Water damage is costly to repair, especially if it has progressed to the point where wood rot or mold has taken hold.
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 that there will be no water damage, and you will save money by not having to pay for costly emergency repairs.
Finally, the greatest smart home technology for your rental property is one that pays you back through 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 Sterling can help you optimize your profits and modernize your rental property. Contact us online today!
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