Many Schaumburg rental property owners worry whether it’s a worthwhile investment to have smart home gadgets installed in their rental property. The basic answer is that the expected returns on different smart home devices vary. So, which smart home gadgets are best for a rental home? Let’s take a look at some of the most popular ones among renters around the United States.
According to a recent survey, more than 75% of tenants are willing to pay a higher rent for apartments equipped with certain smart home features. Over half of these tenants indicated they would spend an additional $20 or more on smart home features. Renters expressed a need for three types of smart home gadgets in particular—security features, such as smart locks and doorbells, were at the top of this list.
Smart locks are gadgets that allow you and your tenant to secure or access a property without a physical key. Smart locks come in a variety of styles, but the majority of them require the use of a smartphone app or a pin code to access. Tenants prefer smart locks because they can monitor their home security from their phones, and Schaumburg 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, enable tenants to filter guests and monitor who comes and goes from their homes. This security function might be a significant selling point, particularly for younger adult tenants who enjoy keeping an eye on their homes and possessions.
Another kind of smart home device that tenants demand are those that help monitor and cut utility expenses. Smart thermostats, smart light bulbs, and smart plugs are all devices that can be controlled by a smartphone app. To control things like the thermostat and lights through the app is possible. You can also stop electricity from going to outlets.
Devices like this one can help cut down on energy costs, and they can also help cut down on the risk of fire or other hazards from leaving things on. The fact that these devices are relatively inexpensive to install but may be a huge draw for renters is perhaps the largest benefit for property owners.
Finally, moisture sensors are smart home gadgets with a lot to offer both tenants and property owners. Water leaks are one of the most common issues that tenants and property owners encounter. Basements, under cabinets, and behind appliances are all places where water leaks can happen and go unnoticed for a long time. Water damage can be very costly to fix, especially if it has been going on for a long time and has caused wood rot or mold.
Installing smart moisture sensors can help you find water leaks before they happen and make sure you get the maintenance and repairs you need quickly and easily. 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 can reward you with increased rent or happier tenants – or both. If you’ve hoped to attract a more tech-savvy audience to your rental home, this is a good way to achieve it.
Real Property Management Northwest Chicago Suburbs can help you optimize your profits and modernize your rental property. Contact us online today!
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