A number of Baltimore City property owners ponder if allowing smart home technology in their rental property is a noteworthy and profitable investment. The short answer is that the possible returns for nearly all smart home devices actually vary. And so, in connection with this, what are the most appropriate smart home gadgets for a rental property? Let’s look at those few that are in huge demand among renters across the country.
Advanced Safety Systems
As stated in a recent survey, more than 75% of renters are willing to pay a premium rent for dwellings that actually provide some smart home features. Of course, more than half of these renters said they would eagerly expend an extra $20 or more for smart home features. Renters mainly required three specific types of smart home equipment, with safety features, for instance smart locks and smart doorbells, topping the list.
Smart locks are electronic devices that can permit you and your tenant to secure or access a property without the application of a physical key. There are various types of smart locks, but certainly, the majority can be opened, without hassle, by a phone app or a pin code. Tenants prefer smart locks as they can quickly see to their home security from their phones, whereas Baltimore City property managers choose smart locks given that these allow them to fend off the need to replace locks when tenants change. Smart doorbells, optionally, enable tenants to easily filter guests and see who moves in and out of the property. This security feature can certainly become a huge attraction more particularly to younger adult tenants who find pleasure in being alerted to their homes and valuables status.
Smart Energy Management
Tenants are, additionally, immensely interested in smart home devices that help closely track and cut utility expenses. Smart thermostats, smart light bulbs, and smart plugs are all popular products that can be directed or managed via a smartphone app. The app enables you to, without stress, 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 oftentimes caused by leaving things on. The fact that these devices are pretty affordable to install but also could be a major attraction for renters is doubtlessly the most vital benefit for property owners.
Moisture Sensors
On that note, moisture sensors are smart home gadgets that furnish many benefits to both tenants and property owners. Water leaks are one of the most common issues that tenants and property owners confront. Basements, under cabinets, and behind appliances are all common issue spots where water leaks can form and go undiscovered for a considerable amount of time. Water damage is an expensive repair, definitely, if it has progressed to the point where wood rot or mold has occurred. Installing smart moisture sensors can certainly assist you in promptly detecting water leaks earlier and scheduling necessary maintenance and repairs immediately and with no trouble. Your tenant will be seriously relieved that water-related damage has been avoided, and you will happily save money by avoiding expensive emergency repairs.
What it all comes down to, the optimum 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 equally get the attention of a more tech-savvy renter demographic to your rental property if that is something you’ve intended to do.
Real Property Management Prime can competently assist you to perfectly optimize your profits and modernize your rental property. Contact us online today!
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