Today, most renters expect amenities that offer convenience, efficiency, and enhanced security. That’s why landlords should consider smart home upgrades to enhance their rental properties.
Investing in smart home technology can provide a significant ROI for property managers and owners. But, smart home technology has its downsides as well.
1. Convenience
Smart appliances, lighting, and thermostats are easy to use and can help tenants manage their homes in a convenient way. They also make it easier to control their appliances remotely from an app on their phone or laptop.
In addition to convenience, many of these smart devices offer security benefits as well. For example, alarm systems can capture video footage when there’s a break in and alert authorities or property managers.
This makes it easier to identify and solve problems before they get worse, saving both landlords and residents money on maintenance costs. Energy monitors can also be used to identify and address faulty wires before they become expensive to repair.
For property managers, these features can save time by enabling self-touring of model units, enhance lead collection, and keep showcase units secure. They can also improve tour volume and attract the newest generation of renters.
2. Security
Most renters want to feel safe in their apartments, and that’s where smart technology comes into play. Alarm systems can alert property managers and police the moment there’s a break in, and video doorbells let tenants screen visitors before opening the door.
Tenants also enjoy having the ability to use voice command appliances like washers and dryers, which can be hooked up to their smart home speakers. These voice-controlled items can be programmed to adjust the heat, start a load of laundry or turn on the lights.
However, there are a few drawbacks to installing smart technology in rental units. These include privacy and security concerns, which may prevent some landlords from allowing these devices in their properties.
3. Energy Efficiency
One of the biggest benefits of smart home technology is energy efficiency. This means that you can save energy, which is good for the environment and good for your wallet.
There are many different types of smart appliances that can help make your rental more energy efficient. These include smart thermostats, lights and appliances that automatically turn off when they are not in use.
In addition to making your property more energy efficient, these technologies also provide valuable data and reports that allow you to see how your heating and cooling systems are working and make adjustments as needed.
Using energy efficiency technology to optimize heating and cooling can reduce your monthly utility bills and improve the marketability of your rental property. Plus, these devices will keep your tenants happy and give them peace of mind.
4. Convenient Payment
Today’s consumers have a variety of ways to make payments, including credit and debit cards, electronic transactions, virtual “wallets” that can be stored on their smart devices, and other online platforms. The convenience of these payment methods enables customers to spend less time filling out forms and more time shopping and enjoying the products they buy.
For rental property owners, the convenience of offering these payment methods can help increase your bottom line and boost renter satisfaction. It can also give you a competitive edge and entice new tenants to rent your properties.
To ensure all these smart rent benefits are accessible, you need a cellular connectivity solution that’s easy to deploy and manage at scale. For that, SmartRent uses Twilio Super SIM to deliver ultra-reliable cellular connectivity in a seamless way that helps you keep your property operating smoothly.