Many landlords in Broken Arrow worry if installing smart home gadgets in their rental property is a good investment. The basic answer is that the expected returns on different smart home devices vary. Therefore, which smart home devices are the most appropriate for a rental property? Let’s take a look at the ones that are in high demand among renters across the country.
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 stated they desired 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 gadgets that allow you and your tenant to secure or access a property without 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 can monitor their home security from their phones, and Broken Arrow property managers prefer smart locks because they eliminate the need to replace locks every time a tenant moves out.
On the other side, smart doorbells allow tenants to screen guests and keep a watch on everyone coming in and out of the 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 help them monitor and save money on their utility bills. Smart thermostats, smart light bulbs, and smart plugs are all devices that can be controlled by a smartphone app. To control things like the thermostat and lights through the app is possible. You can also stop electricity from going to outlets.
These gadgets can help save money on electricity while also reducing the risk of fire or other hazards caused by 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 intelligent home gadgets that provide numerous benefits to both tenants and property owners. Water leaks are one of the most common issues that tenants and property owners face. Basements, under cabinets, and behind appliances are all places where water leaks can happen and go unnoticed for a long 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 be relieved that there will be no water damage, and you will save money by not having to pay for 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.
Real Property Management Tulsa can help you optimize your profits and modernize your rental property. Contact us online today!
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.