Many Batesville landlords worry if installing smart home devices in their rental properties is a good investment. The basic answer is that the payoffs on various smart home devices vary. So, which smart home devices are the most appropriate for a rental property? Let’s take a look at some of the most popular among renters across the country.
According to a recent survey, more than 75% of renters are willing to pay a premium rent for a property with specific smart home features. 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 electronic devices that enable you and your tenant to secure or gain entry to a property without the use of 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. Renters enjoy smart locks because they can monitor their home security from their phones, while Batesville 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 enable tenants to filter guests and monitor who enters and exits their 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.
Tenants are also interested in smart home devices that help them monitor and save money on their power bills. 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 devices assist cut energy expenditures, and they can also help lessen the risk of fire or other hazards from 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.
Finally, moisture sensors are smart home gadgets that have a lot to offer both tenants and landlords. In both cases, water leaks are a big problem. Basements, under cabinets, and behind appliances are all well-known trouble spots where water leaks can form and go undiscovered for long periods of time. Water damage is costly to repair, especially if it has progressed to the point where wood rot or mold has taken hold.
Smart moisture sensors can help you detect water leaks sooner and arrange needed maintenance and repairs more efficiently. Your tenant will be happy to avoid 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. If you’ve hoped to attract a more tech-savvy renter demographic to your rental home, this is a good way to accomplish it.
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.