Most Denville property owners are asking if assimilating smart home technology in their rental property is a good and worthwhile investment. The short answer is that the imminent returns for many various smart home devices do vary. In this regard, what are the most ideal smart home gadgets for a rental property? Let’s look at those that are in much demand among renters across the country.
Advanced Safety Systems
As mentioned by various surveys, more than 75% of renters are willing to pay a premium rent for dwellings that use some smart home features. In reality, more than half of these renters said they would gladly disburse an extra $20 or more for smart home features. Renters particularly ask for three types of smart home equipment, with safety features like smart locks and smart doorbells topping the list.
Smart locks are electronic devices that warrant you and your tenant to secure or access a property without the practical usage of a physical key. There are many types of smart locks, but as a matter of fact, the majority are opened by a phone app or a pin code. Tenants prefer smart locks given that they can check out their home security from their phones, while it is true that Denville property managers opt for smart locks in as much as they want to avoid the need to replace locks when tenants change. Smart doorbells, as another option, can be advantageous to tenants to filter guests and closely monitor who is coming in and out of the property. This security feature might be very attractive, primarily, to younger adult tenants who love monitoring their home and valuables.
Smart Energy Management
Tenants are also quite interested in smart home devices that help closely monitor and cut utility expenses. Smart thermostats, smart light bulbs, and smart plugs are all familiar products that can be managed via a smartphone app. The app lets you 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 triggered by leaving things on. The fact that these devices are considerably economical to install yet may have a huge appeal for renters is likely the most pertinent benefit for property owners.
Lastly, moisture sensors are smart home gadgets that offer a large number 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 pervasive issue spots where water leaks can form and go undiscovered for a considerable time. Water damage is an expensive repair, absolutely if it has progressed to the point where wood rot or mold has certainly developed. Setting up smart moisture sensors can be advantageous to you in detecting water leaks earlier and scheduling necessary maintenance and repairs easily and timely. Your tenant will be relieved that water-related damage has been certainly avoided, and you will save money by hindering extravagant emergency repairs.
At the end of the day, the perfect 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 especially attract a more tech-savvy renter demographic to your rental property, if that is something you’ve wanted to do.
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