Rental properties are increasingly high tech, and one reason for this conversion is that, according to one survey, 57% of tenants would pay higher rent for smart home features. Thatís not the only reason, though. As any experienced landlord or property manager will tell you, technology also makes it easier for them to manage rentals and can even be money-saving tools. If youíre considering upgrading your rentals with improved technology, then, here are 4 items to focus on. Theyíll completely change how you approach the management process.
Security tech is an obvious starting place for landlords, especially those in major urban centers, so give your tenants a sense of security and an added layer of insurance by adding security cameras to your property. We recommend the Arlo Pro 2, a convenient wireless model featuring nightvision and two-way audio, and is adaptable for both outdoor and indoor use. Depending on what other smart home technology you use, though, you might opt for another model thatís more compatible.
Emphasize Indoor Environments
Poor indoor air quality is a common source of health complaints, which is why the property management team at Green Residential recommends installing a home air filter in your property, but depending on your concerns, you may wish to look beyond a traditional HVAC. For example, many property managers struggle with tenants smoking in non-smoking properties and this can also be a source of conflict between neighbors.
One way to manage this issue effectively is by installing FreshAir sensors, a filter system that can detect cigarette and marijuana smoke in unauthorized areas. This tool will allow you to identify the source of any smoke and appropriately penalize tenants who violate their lease. Itís a lot easier than knocking on every door and looking for the source of the problem.
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Lock It Up Tight
Depending on the individual owner or manager as well as regional regulations, some properties will rekey apartments in between tenants and some will just recycle the keys. One way to sidestep this hassle while ensuring your apartments are safe is by installing smart locks on each door. These can be reprogrammed between tenants and are actually more secure than typical locks. Additionally, smart locks often have built-in cameras for added security, which can deter would-be burglars and even package thieves.
Tackle Temperature Problems
A growing number of property owners have begun to prioritize environmental issues and sustainability, but itís hard to control what your tenants do in their homes. Support their efforts to act responsibly by installing a smart thermostat or other climate control device. These devices rely on machine learning capabilities and a variety of smart sensors in order to determine if anyone is home, when people typically leave the house and arrive back home, and they can even factor elements like humidity into room temperature. Since they donít rely on manual control, smart thermostats can translate to significant savings on heating and cooling.
Stay On Trend
Ultimately, if you hope to command competitive rents, youíll need to stay engaged with the current trends in real estate and technology, and this will be increasingly important as younger tenants enter the rental market. This may mean outfitting your properties with a complete suite of smart home technology, or it may just mean being prepared to accommodate it. Many renters, for example, will come equipped with their home smart home devices, such as personal assistant devices.
Additionally, some tenants may request upgrades, including some of those mentioned above, and itís worth considering whether those enhancements work in everyoneís favor. Maybe you werenít planning on adding sensors or smart lighting this year, but if that will help you retain a valued tenant, now may be the time to act.
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