Many Greensboro rental property owners ask whether it’s a worthwhile investment to install smart home gadgets in their rental property. The basic answer is that the expected returns on various smart home devices differ. So, which smart home devices are most appropriate for a rental property? Let’s take a look at those that are in high demand among renters nationwide.
According to a recent survey, more than 75% of renters are willing to pay a premium rent for residences with smart home technologies. More than half of these tenants believed that smart home features would be worth an extra $20 or more. Renters expressed a desire for three sorts of smart home gadgets in particular: safety features, such as smart locks and smart doorbells, were at the top of the list.
Smart locks are electronic locks that enable you and your tenants to secure or access a property without the use of a physical key. There are a lot of different types of smart locks. Most of them can be opened with a phone app or a pin code. Tenants prefer smart locks because they enable them to monitor their home security remotely, while Greensboro property managers prefer smart locks because they eliminate the need to replace locks when tenants change.
Smart doorbells, on the other hand, allow tenants to screen visitors and keep an eye on everyone who comes and goes from their home or apartment. If you’re a young adult who likes to keep an eye on your home and things, this could be a big deal.
Tenants also desire smart home devices that help them monitor and save money on their utility bills. Smart thermostats, smart light bulbs, and smart plugs are all popular gadgets that can be managed remotely via a smartphone app. Through the app, it is able to alter the thermostat temperature, turn lights on and off, and turn off energy to outlets.
These gadgets assist in lowering energy expenses and also help lessen the risk of fire or other hazards associated with leaving things on. Perhaps the biggest benefit for property owners is that these devices are relatively inexpensive to install yet may be a significant magnet for renters.
Finally, moisture sensors are smart home devices that both renters and landlords can benefit from. They can help both groups. Water leaks are one of the most common difficulties tenants and property owners encounter. Basements, under cabinets, and behind appliances are all well-known issue spots where water leaks can form and go undiscovered for some time. Water damage can be costly to repair, especially if it has progressed to the point where wood rot or mold has developed.
Installing smart moisture sensors enables you to detect water leaks more quickly and conveniently, as well as plan necessary maintenance and repairs. Your tenant will appreciate the relief of preventing water damage, and you will save money by avoiding costly emergency repairs.
If you rent out your house, the smart home technology that will help you make more money or make your renters happier is the best for you. It may also help you attract a more tech-savvy tenant population to your rental home, something you may have desired.
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.