When it comes to rental properties, both landlords and renters look for efficiency and value. Renters want to live in a property that is clean, modern, and with updated technology. On the other hand, landlords want to increase their rental value as much as possible. Adding smart home upgrades is a great way to attract quality renters while boosting rental value. Let’s go over some of the top smart home upgrades in 2022.
What are Smart Home Upgrades?
Using smart home technology to upgrade a rental home is a great way to boost rental value while attracting high-quality tenants. Some smart home upgrades may include door locks, thermostats, security systems, etc.
Smart devices can typically connect to smartphones or other devices using the internet or Bluetooth. Then, tenants or landlords can automate house controls from virtually anywhere. To discover how you can utilize today’s top smart devices, just keep reading.
Top Smart Devices in 2022
These days, technology has allowed us to create the best smart devices to modernize your rental properties. As a result, more and more renters are looking for places with modern technology and more convenient rental features. Not only can these smart devices increase your ROI, but they can ensure safety within your rentals. Here are some of the top smart devices landlords will use in 2022.
- Door Locks and Keyless Entry Systems
- Smart Thermostats
- Smoke and Carbon Monoxide Detectors
- Smart Lighting Systems
- Security Systems
Door Locks and Keyless Entry Systems
Smart door locks are among the more common smart devices landlords utilize in their rentals. You don’t have to scramble to find your house key with a smart door lock. Instead, you can lock and unlock the property with just the touch of a button. Most renters consider security to be a top priority, and with smart locks, you can easily ensure safety from anywhere.
There are two different types of smart locks that landlords can install. Some devices work with preexisting locks, and some of them completely replace the original door locks. Therefore, landlords should research and find what will work best for their rental properties.
Smart Thermostats
Smart thermostats are the way to go if you want an efficient way to keep your rental home comfortable while saving energy and money. Thermostats with modern technology allow tenants to control a property’s temperature using a smartphone, tablet, or another smart device.
Many smart thermostats can automatically recognize a user’s patterns and adjust temperatures to fit your preferences. As a result, tenants can benefit mainly from smart thermostats because they can save energy and money, monitor usage easily, and control home temperatures from anywhere.
Smoke and Carbon Monoxide Detectors
While regular smoke and carbon monoxide detectors work just fine for most properties, upgrading these to smart devices can increase safety and require less routine maintenance. After all, you should check or replace the batteries for standard detectors at least once a month. Batteries can test themselves within smart sensors, so you don’t have to worry about manually checking them.
Additionally, you don’t have to worry about false alarms such as burning food since smart detectors can help determine the possible source of danger. Additionally, devices like the Nest Protect provide more information on the situation.
Smart Lighting Systems
These days, many different smart lighting systems are available for your rental property. Landlords can install smart bulbs that connect to your smartphone or other smart devices. From here, you can adjust the lighting easily with the touch of a button.
Additionally, some smart lighting systems offer motion sensors, dimmable functions, and GPS activation. Each of these settings allows tenants to maximize their energy savings and easily control lighting from anywhere in the house.
Security Systems
Feeling safe and secure in a rental property is one of the most important factors for many renters. Smart security systems are just one way to ensure safety for tenants and security for landlords.
If you want to install security cameras for tenant use, you can allow tenants to monitor and control cameras from their smartphones. Some tenants aren’t going to want security cameras in their homes but might feel safer with them outdoors. Before a tenant moves into your rental, talk to them about your innovative security system and see how they think about the use of cameras during their occupancy.
Average Cost of Smart Home Upgrades
Technology is only getting more costly as it becomes more advanced. Not every smart home upgrade is worth it in a rental property. After all, rentals often receive more wear and tear, and replacing smart features every time they break or become damaged can be extremely pricey. Before you install any smart devices on your property, let’s go over some of the average costs of smart home devices.
- Door Locks: Smart door locks or keyless entry systems can range anywhere from $50 to $1000, depending on what features you want.
- Smart Thermostats: Thermostats are a bit cheaper, typically starting at $100 for a smart device.
- Smoke and Carbon Monoxide Detectors: Smart devices that detect smoke and carbon monoxide generally go for around $120.
- Smart Lighting Systems: Lighting systems may differ depending on what you are looking for, but this is one of the more cheap rental upgrades. Most smart light switches start around $30.
- Security Systems: In the simplest form, motion detection features can start at $25. However, if you want more security, the cost will continue to rise.
Benefits of Smart Home Devices
While some smart devices cost quite a bit to install, the benefits are often greater than the slight financial setbacks. If you need help deciding what features to add to your rental, talk to your rental property management company in Northern Virginia. Additionally, these upgrades can increase the overall property value and allow landlords to charge extra for monthly rent.
- Building Security
- Increased Rental Value
- Lower Energy Costs
- Convenience for Landlords and Tenants
Increased Rental Value
When landlords add significant upgrades to their rental properties, they add value. In turn, landlords can charge more for rent to justify the upgrades. Typically, renters are willing to pay more for smart devices and additional home security.
Lower Energy Costs
With upgrades like a smart thermostat and smart lighting, landlords and tenants can save on energy costs. In addition, since you can customize your temperature and lighting preferences with smart devices, you don’t have to worry about leaving the lights on or adjusting the temperature before you leave the house. Instead, you can customize these features right from your smartphone.
Convenience for Landlords and Tenants
Overall, innovative technology provides conveniences for both landlords and tenants. Tenants can feel more secure and in control of their settings, and landlords can worry less about property damages, large utility bills, and tenant concerns.
Need Help Managing Your Rental?
If you’re a landlord and you find yourself busy with a million tasks at once, you’re not alone. Luckily, trusted property management companies can help you manage your rentals. Professional Property Management of Northern Virginia has the expertise and resources to help your rental business succeed. Contact us today if you need professional help with your business.
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