Many landlords in Portland worry if installing smart home gadgets in their rental property is a good investment. 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 some of the most popular ones among renters around the United States.
According to a recent survey, more than 75% of renters are willing to pay more for properties with smart home technologies. More than half of the 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 devices that enable you and your tenant to secure or gain entry to a property without the use of a physical key. There are various types of smart locks, but the majority are opened using a smartphone app or a pin code. Tenants prefer smart locks because they enable them to monitor their home security remotely, while Portland property managers prefer smart locks because they eliminate the need to replace locks when tenants change.
On the other side, smart doorbells enable tenants to filter guests and monitor who enters and exits their property. This security function might be a significant selling point, particularly for younger adult tenants who enjoy keeping an eye on their homes and possessions.
Tenants also desire smart home devices that assist in monitoring and reducing utility expenses. Smart thermostats, smart light bulbs, and smart plugs are all popular gadgets that can be managed remotely via a smartphone app. It is possible to alter the thermostat’s temperature, turn on and off lights, and turn off energy to outlets via the app.
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 most significant advantage for property owners is that these devices are relatively inexpensive to install yet can be a significant selling point for renters.
Finally, moisture sensors are intelligent home gadgets that provide numerous benefits to both tenants and property owners. Water leaks are one of the most common difficulties tenants and property owners encounter. Basements, underneath cabinets, and behind appliances are all well-known sites where water leaks can form and remain undiscovered for an extended period of time. Water damage is costly to repair, especially if it has progressed to the point where wood rot or mold has taken hold.
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.
Finally, the greatest smart home technology for your rental property is one that pays you back through increased rent or happier tenants – or both. It may also help you attract a more tech-savvy tenant population to your rental home, something you may have desired.
Real Property Management Shoreline can help you optimize your profits and modernize your rental property. Contact us online today!
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