When considering the next generation of renters, what do you imagine? Adults under 40 are poised to be the next major group of renters, and their needs and wants are quite different from previous generations. As a property owner in Palatine, staying competitive in the single-family rental market requires understanding young adults’ needs and making upgrades to your rental homes.
Smart Technologies for Rental Properties
With the growth of handheld smart technologies, smart homes are becoming more widespread. Young renters often have grown up with smart technologies like smart thermostats and lighting in their homes. These technologies allow users to adjust thermostats or control lighting with just a few clicks.
These smart technologies are not merely fancy extras; they can significantly boost a rental home’s performance and appeal to quality, long-term renters. Let’s investigate the benefits smart thermostats and lighting can offer you as a rental property owner.
Benefits of Smart Thermostats
Smart thermostats employ advanced technology to learn from your behavior and adjust the temperature settings accordingly. They can monitor energy consumption in real time, make automatic adjustments when the house is empty, and enable remote control of the home’s climate.
Although the upfront cost of smart thermostats is higher than traditional ones, they can generate significant energy savings, potentially saving residents hundreds of dollars per year. Besides, smart thermostats keep a customized and comfortable home climate at all times. While the upfront investment is higher, smart thermostats are designed to offset the cost through energy conservation and improved efficiency over time.
Reason to Consider Smart Lighting
Like smart thermostats, smart lighting systems are designed to reduce energy consumption and boost efficiency. These systems include high-efficiency light fixtures and automated controls that adjust automatically based on occupancy and natural light.
They can also be programmed, managed with a mobile app, and customized to optimize energy usage and enhance security. Of all the smart home technologies, smart lighting is one of the most accessible and affordable, making it a great starting point for integrating innovation into your home.
For details on how smart technologies can enhance your rental property management, reach out to Real Property Management NW Chicago Suburbs today. Our expert team is ready to help you incorporate the latest innovative solutions for better efficiency and tenant satisfaction. Contact us online or by calling 847-737-4800.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
