Smart home tech is all the rage and extends beyond Alexa or a Nest thermostat. As a landlord, you might wonder if you should add home automation to your rental property or just update the kitchen and bathrooms. It can seem like a tough decision.
When considering if adding more tech to your rental property is right or not, several factors are involved. These include the cost of the installation, the type of tenants you are looking for, and the features you want to include.
Some of the benefits of adding home automation to your rental property:
- Attract high-paying tenants
- Reduce energy costs
- Improve security
- Make it easier to manage your property.
Of course, there are also some potential drawbacks to consider:
- High installation cost
- Tenants might need training on how to use the system
- There is always the risk of malfunction.
Before deciding to add home automation to your rental property, it’s worth weighing the costs and benefits carefully. Don’t worry, this article will help you.
How does home automation attract high-paying tenants?
Having the latest smart home devices installed could mean you attract higher paying tenants. There are plenty of reasons why.
Convenience
A home automation system can make tenants’ lives easier and more convenient. For example, a smart thermostat can automatically adjust the home’s temperature and save money on energy bills.
A smart security system can give tenants peace of mind when they’re away from home. And a smart doorbell can allow tenants to see who’s at the door without moving from the sofa!
Security
Smart home features can also improve the security of a home. For example, a smart security system can send alerts to tenants’ phones if there is a break-in. And a smart doorbell can allow tenants to see and speak to visitors without having to open the door.
Status
In today’s world, many people are looking for homes equipped with the latest technology. A home automation system can make a rental property stand out from the competition and attract high-paying tenants.
How does a smart home reduce a tenant’s bills?
By adding home automation to a rental property, your tenants will love you as they will have lower bills. There are a few reasons why.
Smart thermostats
With a smart thermostat, you can automatically adjust the temperature of your home to ensure a consistent temperature. As you can control them remotely, you and the tenants can monitor them and only turn on the heating when required.
Smart light bulbs
Smart light bulbs can be programmed to turn on and off automatically or controlled remotely with your smartphone. These can help you save energy by turning off lights when you’re not using them.
Smart appliances
Set your smart appliances to run during off-peak hours as energy rates are lower.
Smart security systems
These systems can deter burglars and give you and your tenants peace of mind. Plus, having a smart security system installed can help you save money on your insurance premiums.
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