Smart Technology That Will Level Up Your Rental Property

The rental property market is becoming more competitive than ever. If you’re finding it difficult to hit occupancy goals, you may want to consider making some minor improvements to your property. Smart home technology has emerged as a solution for property owners as they strive to stay ahead. Smart home devices not only enhance the living experience for tenants but also offer landlords a unique opportunity to improve their property, increase efficiency and automation, and reduce costs. In this article, we will explore 6 different pieces of smart technology you can use to upgrade at your rental property.

Energy efficiency is one of the most sought after features for renters today, and the thermostat in your rental is an easy device to upgrade. Smart thermostats, such as the Nest or Ecobee, allow tenants to easily control the temperature of their apartment via a mobile app. But the real appeal of these devices is their ability to learn a user’s schedule. By monitoring temperature adjustments throughout the day, a smart thermostat learns the user’s preferences. It can then adjust the temperature based on these patterns, which leads to reduced energy usage and lower utility bills.

Home security is a top priority for tenants, and smart locks provide a modern solution for access control. With features like keyless entry, and remote locking/unlocking, smart locks allow residents to secure their home effortlessly. Smart locks are an easy and attractive upgrade to your property, with the added benefit that property managers can control and monitor access to units remotely, and without needing to change physical locks or provide spare keys.

With smart locks, tenants can quickly gain entry to their apartments using a key code or their mobile device, which increases convenience. On the flip side, landlords can easily reprogram a key, the lock, or delete old key codes from the online system. This removes the cost of key replacement in the event of lost or stolen keys, and allows landlords to avoid the hassle of needing to let in locked out tenants.

Smart appliances, such as refrigerators, washers, and dryers, are becoming more commonplace in the world of smart home tech. These devices offer increased convenience for tenants through features like remote monitoring, energy-saving modes, and maintenance alerts.

For example, a smart refrigerator can alert tenants if the door is left open or when it’s time to change filters. Smart washing machines can schedule washes during off-peak hours, helping to reduce utility costs.

These upgraded appliances can increase the overall appeal of your property and attract high-quality, tech-savvy renters who appreciate the convenience these products offer — plus, they can justify slightly higher rent prices.

Smart lighting systems, such as Philips Hue and LIFX bulbs, allow tenants to control their lighting remotely using smartphones (which is perfect for those occasions when a light is accidentally left on) or voice assistant commands through devices like Amazon Alexa or Google Assistant. Smart bulbs can be customized for brightness, color, and timing, allowing tenants to adjust the ambiance to their needs.

From a landlord’s perspective, smart lighting can reduce energy consumption by allowing for automated light schedules, such as turning lights off when the apartment is vacant or when daylight is sufficient.

The installation of smart security cameras and video doorbells, like Ring or Nest, can offer tenants peace of mind, as they can monitor who enters and exits their apartment. Security is extremely important to renters, so having a device that detects motion and easily allows them to view their apartment remotely can be a big benefit.

For landlords, smart security systems enhance the overall security of the property and can act as a deterrent to criminal activity. Moreover, they can provide important documentation in the case of disputes or incidents, especially in cases where a staff member may need to enter a rental home to complete a maintenance request, etc, while a tenant is not home.

Traditional smoke detectors are a basic requirement in rental units, but smart smoke detectors, like Nest Protect, offer added features that can improve safety. These smart home features send instant notifications to tenants’ phones in the event of smoke or carbon monoxide detection, even if they are not at home. This ensures quick action in case of emergencies. They even have voice alerts to let tenants know when smoke levels are rising, but aren’t high enough to sound the alarm. That way, the next time a resident burns their toast, they know to open a window based off of the voice alert, rather than the alarms suddenly going off like they do in traditional smoke detectors.

Having smart detectors means better protection for tenants and potentially lower insurance premiums. It also allows for easier monitoring of vacant apartments: A traditional smoke detector requires someone to be present to hear the alarms go off, while the smart device can alert your phone in case of emergencies. Smart smoke detector systems also perform self-tests and send alerts when maintenance is needed, ensuring that the detectors are always functioning properly without requiring regular manual checks.

Smart home technology isn’t just about trying out new gadgets. Integrating home automation into your rental property is an easy way for you to stand out against competition in a tough rental market. Making these upgrades enhances your property value, improves tenant satisfaction, and offers significant cost savings for both tenants and landlords, making them great features you can highlight in your marketing to attract future residents and increase retention of current residents. From smart thermostats to energy-efficient appliances, landlords have a wide array of advancements at their disposal to make their rental properties more appealing and easier to manage. Ultimately, smart technology represents a win-win for both property owners and renters, creating safer, more efficient, and more enjoyable living spaces.