Smart Home Technology

Looking for ways to improve your rental can seem like a never-ending task. With an abundance of options, it may be difficult to pinpoint which avenue to take, or at least begin with. The common thread many can agree upon is the importance of making your rental standout amongst the competition. What’s one way you can do this? Transform your rental property into a smart home.

Security

Above all else, safety first. This can be achieved through many ways such as smart locks. Instead of mechanical deadbolts, the smart lock takes its place. To utilize, keypads can be installed, and a pin number must be entered by the tenant to unlock. Or via Bluetooth connectivity, a smartphone can also be used to unlock the door. Forgot to lock the door on your way out? Depending on the system installed, the lock can be managed from anywhere using your smartphone. Not only do smart locks provide convenience and a level of protection that only you can access, the lock also cannot be picked. Smart locks are also useful with a high turnover of tenants. No more physical keys to hand out, just a simple reset of codes for the next occupants. Smart locks range from a simple keypad to a high-tech fingerprint scan. Although smart locks may cost you more upfront compared to mechanical locks, the benefits overall outweigh the initial cost.

Although locks can be considered the first line of defense, there are other means of protection such as smart doorbells. Smart doorbells allow residents to screen visitors at the door. The convenience of smart doorbells being connected to your smartphone doubles in safety as it can alert you when visitors arrive by motion detectors or when the doorbell is rung. In the unfortunate event that anything questionable has occurred near the property, the camera of smart doorbells can serve as video footage to reference. In addition, smart doorbells can serve as a deterrent to anyone thinking of harming your property. The sight of the camera can waive off any intention of harm, knowing the offenders would get caught. On a positive convenient note, you will know when packages you’ve ordered have arrived!

Thermostat

Smart thermostats are another way to easily attract prospective clients. With numerous advantages, you’ll want to install a smart thermostat in your rental ASAP. Beginning with reducing energy costs, smart thermostats can be scheduled to reduce the energy used when the space is not being occupied. When tenants are out for the day, the air conditioning can be turned off, or the heating turned down. The thermostat can be programmed to kick back in once the tenants have returned, saving money in the long run. With that being said, smart thermostats also allow users to track their energy usage. A simple way to track where users are spending their energy costs, and where they can cut back if need be, a simple budgeting tool. Just like other smart appliances, thermostats can be controlled remotely. Beyond the convenience of changing the temperature while already in the space, users can adjust accordingly before their arrival. Forgot to turn off the air conditioning after you’ve left for vacation? Not a problem. With a simple touch of the phone, the thermostat can be easily adjusted.

Lighting

Smart lighting is yet another feature that can double as safety and convenience. Beginning with safety, smart lighting can be programmed to turn on and off lights at specific times of the day. If out of town, the lights switched on can allude to the space being occupied, which is another deterrent of the property potentially being harmed. The timed lighting system is also used for convenience and can be adjusted simply through the touch of the smartphone connected via Bluetooth. In addition, depending on the system installed, motion sensors can detect a presence and automatically turn lights on or off. Smart lighting is another opportunity for a cost saver, by reducing the usage of the lights. Bluetooth connectivity helps track when the lights should be turned off to reduce energy usage, therefore cutting the cost. Smart lighting also allows room for customization and creativity. The brightness and colors within different rooms can easily be controlled by your smartphone.

There surely are many other smart appliances that could be added to your property for home improvement. The convenience, long term money savers, and improved security measures speak for themselves. Not only will a greater pool of investors be interested in these advanced technological applications, a larger profit can be made at the conclusion of a fix & flip. Be sure to include smart technology at the top of your list for your next investment property!