Smart technology is becoming more important in the rental industry because of its ease of use and practical benefits, leading more property owners to adopt it for their rental operations. Failing to use smart technology might put you at a disadvantage if competitors have already embraced it. But exactly what ways does smart technology benefit your rental property?
Security
Arguably, the most significant contribution of the increasingly prominent technology is security. With smart locks and smart cameras, gaining access to your property will be difficult unless you have the proper authorization.
Smart locks enable keyless entry, allowing doors to be unlocked using PIN codes, RFID cards, or biometrics. These prevent unauthorized entry better and provide seamless access for tenants. Smart cameras, on the other hand, will allow you to watch over your property even as an absentee landlord.
Convenience
Smart technology has made countless lives easier. Between enhanced connectivity and automations, many property management tasks can be fulfilled by smart devices and tools. You don’t need to be on the premises to watch over it or unlock doors, and you can automate routine tasks like rent collection.
Tenants will especially benefit from smart thermostats, which allow them to remotely control the temperature of the rental unit and automatically adjust temperatures based on their preferences and current weather conditions. As a bonus, this can help them reduce energy consumption.
Tenant Appeal
You’ll find that more and more tenants are preferring rental listings that offer smart features within the home. Smart TVs, smart lights, smart speakers, and smart locks are prime examples of the amenities that tenants are looking for in a rental property.
They tend to require a considerable investment from you if you have several rental units, but it’s usually worth the cost if it gives you an edge in the rental market. Research current trends to determine whether your target market would appreciate these upgrades.
What Smart Devices Can Increase Property Value?
1. Smart Locks: This smart feature for rental properties provides remote unlocks and keyless entry, as well as more secure means of unlocking a unit.
2. Smart Thermostats: The temperature can be adjusted remotely by tenants, and automated schedules can be established to lower energy usage, lowering utility costs.
3. Smart Security Cameras: Unlike standard security cameras, smart cameras can detect movements and even follow them to catch everything that’s happening. Some models can identify whether it’s a person, package, or animal within the frame.
4. Smart TVs: Regular TVs are harder to find now, and even if you do, they can be deal breakers for tenants since they cannot use the devices for streaming services.
5. Other Smart Appliances: You can also invest in other smart appliances like smart coffee makers for scheduled brewing, smart refrigerators for energy conservation, or smart plugs to control regular appliances remotely.
Be a Completely Hands-Off Landlord
Smart technology for rental properties can only do so much. Even property management software cannot completely replace the services of an on-site property manager. If you want to earn passive income as you focus on other ventures, that’s where we come in!
Investment Safe offers comprehensive property management services that allow your San Diego rental business to thrive. If you already have other aspects of property management covered, we also offer à la carte services to suit your needs.
Schedule a free consultation today and learn how we can help you achieve your investment goals!