Using Smart Technology to Enhance Rental Properties
September 16, 2020
Smart home technology can help make your proprieties easier to manage and more attractive to renters. During the last several months, social distancing has made more and more people dependent on technological advancements for nearly all aspects of our daily lives. The mutual benefits of outfitting your properties in some of the latest gadgetry is something to think about and perhaps to put on your list of potential improvements for 2021.
Some of the many (many!) options include:
- Custom-programming devices, like Amazon’s Alexa, to allow renters to pay rent, book amenities, and schedule maintenance appointments.
- Smart locks can allow property managers to grant access to maintenance personnel remotely to avoid taking time out of a busy schedule to continually be unlocking doors. BONUS! You can avoid having to get the locks changed out after each renter and costly locksmith fees because everything can be done on your phone.
- Smart thermostats give renters the opportunity to control their unit’s heating and air conditioning remotely to help save on energy costs. Property managers can also use this to optimize temperatures for vacant units to avoid wasting energy and money on unoccupied spaces.
- For a little more of an investment upfront, smart appliances are a fantastic upgrade. Being able to preheat an oven from anywhere and have it ready for you when you get home can be very attractive for an on-the-go renter.
Be aware that there can be risks associated with smart technology. Do your homework about the products you are looking to invest into and research ways to thwart potential threats. Another key component is to be upfront with renters about ALL of the smart technology you have installed in a property. Lastly, be sure to emphasize the respect for privacy by showing tenants that cameras are aimed away from windows and that accounts are kept private.
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