Here are some ways to incorporate smart products into your property, attract new tenants, and increase your apartment’s rental value. Smart devices in your apartment allow you to attract a broad range of renters. A simple tap on the tenant’s smartphone can easily unlock the door for the guest.įor landlords, keeping their rental property safe is very important and conveniently monitoring your property helps improve its security. Nowadays modern technology means installing smart security cameras, which notify a resident when a guest arrives. Not so long ago, security was provided by a lock and key, a code, or a burglar alarm. More than half of the tenants decide to move out of their rented property because of a lack of security. Provides Smart SecurityĪs a tenant, security is one of the considerations when looking for an apartment to rent. The ability to manage the rental property’s temperature from the convenience of your home or installing smart lights that turn off when the sun rises and turns on as the sun sets will save on the operational costs of the building. Landlords can also save in the same way, too. This goes the same with managing the lights using a smartphone. For example, according to Buttonwood property management, managing the thermostat from your phone has been shown to let tenants save at least 10 percent of the costs on heating and another 10 percent on cooling. Smart devices not only provide convenience to tenants but can also provide savings. You don’t have to go out of your home to unlock a tenant that’s been locked out of the apartment, saving you and your tenant time, energy, and sanity. With smart technology, you can unlock your property from wherever you are with the help of your smartphone. If you’re able to monitor your property using security cameras, manage the building temperature, or manage the property lights from your smartphone or another device, this improves the way you manage your rental while letting you save time and money. However, as a property owner, adding smart technology into your property shouldn’t be done just because others are doing it. Smart properties are already getting common on the market. Provides Convenience for Landlords and Tenants Adding smart devices to your property will give you an edge over other rentals as it will make the property more attractive to the new generation of renters. As a property owner, this is a good opportunity to incorporate smart features into your rentals. Also, many millennials prefer the convenience of renting to owning a home.īecause of the high number of people willing to pay more for space with smart technology, this creates a demand for such rentals. Most millennials are found to be willing to pay more for an apartment with smart technology. They’ve grown up together with the development of information and digital technology, making them more exposed to smart technology. Millennials make up the most number of the population now. Here are some ways smart technology can increase your apartment’s rental value. At Wired Smart, you can check out how to incorporate smart technology into your property. Smart devices aren’t only helping private homes as many renters are willing to pay more for spaces with this modern technology. But in a time where everyone is surrounded by smart technology, incorporating smart gadgets into your rental can improve your property’s value. You may think that installing smart devices into your apartment is absurd and expensive.
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