Several Mundelein property owners are considering whether putting up smart home technology in their rental property is an advantageous investment. The short answer is that the hoped-for returns for multiple smart home devices vary. In connection with this, you may ask what are the most appropriate smart home gadgets for a rental property? Let’s look at some of those that are in much demand among renters across the country.
Advanced Safety Systems
It is reported by a recent survey, more than 75% of renters are willing to pay a premium rent for dwellings that offer specific smart home features. It goes without saying, more than half of these renters said they would willingly pony up an extra $20 or more for smart home features. Renters also specifically asked for three types of smart home equipment, with safety features, in particular, smart locks and smart doorbells, topping the list.
Smart locks are electronic devices that allow you and your tenant to secure or access a property without the implementation of a physical key. There are several types of smart locks, yet the majority are opened using a phone app or a pin code. Tenants prefer smart locks since they can find out about their home security from their phones, whereas Mundelein property managers choose smart locks as they ward off the need to replace locks when tenants change. Smart doorbells, on the flip side, help tenants to filter guests and check out who enters and leaves the property. This security feature might be very engaging and attractive, definitely to younger adult tenants who delight in monitoring and keeping up with their homes and valuables.
Smart Energy Management
Tenants are also quite interested in smart home devices that help them closely monitor and cut utility expenses. Smart thermostats, smart light bulbs, and smart plugs are all sought-after products that can be accessed and managed via a smartphone app. The app supports you to 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 often created by leaving things on. The fact that these devices are low-priced to install but may be a huge draw for renters is, in all probability, the most substantial benefit for property owners.
Moisture Sensors
In winding up, moisture sensors are smart home gadgets that bestow particular benefits to both tenants and property owners. Water leaks are actually one of the most common issues that tenants and property owners confront. Basements, under cabinets, and behind appliances are all typical issue spots where water leaks can form and go undiscovered for a great deal of time. Water damage is an expensive repair, totally if it has progressed to the point where wood rot or mold has actually grown. Putting up smart moisture sensors can be of advantage to you in detecting water leaks earlier and scheduling necessary maintenance and repairs more swiftly and aptly. Your tenant will be happily relieved that water-related damage has been avoided, and you will save money by keeping off exorbitant emergency repairs.
In conclusion, the nicest 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 on top of everything else captivate a more tech-savvy renter demographic to your rental property if that is something you’ve been looking to do.
Real Property Management NW Chicago Suburbs can efficiently help you truly optimize your profits and modernize your rental property. Contact us online today!
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