Smart Home technology for your investment property

Do you have a rental property? Are you looking for ways to make it more attractive to tenants who might have many options in your community, city or state? One of the ways to do this is to provide greater value for the rent they pay, and you can do this with smart home technology.

According to a survey, up to 57.4 million households in the United States are actively using smart home devices this year. This is a 6.7% increase from 2021, when the number of households actively using smart home technology was 53.8 million.

If you want to make your rental property more attractive to tenants, include smart home technology. Keep reading to see some smart home options worth considering.

Smart Home Technology Investment Options Smart Thermostat

If your tenants pay for utilities, they will be interested in homes with smart thermostats. If they're away for much of the day, they can set their smart thermostats so the temperature isn't higher or lower than it should be. When they are at work during the winter, they can program the smart thermostat so that the temperature is not hotter than necessary. It will be possible to program it so that the temperature rises when you return from work.

Energy Star notes that users can save around $50 per year using their smart thermostats. That might not seem like a lot. But with inflation driving up the cost of living, every savings opportunity counts. The tenants of your rental unit will appreciate being able to save money.

Video doorbell

Another smart home technology to consider for your rental unit is a video doorbell. Occupants will have an added layer of security since they will be able to check who is at the door without having to physically walk to the door. Whether they're in bed, in the living room, in the kitchen, or outside the rental unit, they'll be able to check who's at the door.

A video doorbell can also deter would-be scammers from burglary attempts. Thieves prefer easy targets, so seeing a video doorbell that can catch them in the act is enough to deter most bad actors. Equipping your rental unit with a video camera might appeal to tenants. They will feel more secure, which might be enough to differentiate your rental property from other properties.

Smart home security system

It has always been a good idea to install a good home security system. But a smart home security system is an entirely different matter. Such a setup will include various physical electronic components that work together to protect your rental property. It can be the following:

Smart security cameras Motion sensors that detect motion and send notifications if motion is detected Glass break sensors that will send alerts if the glass is broken Entry sensors to detect each time someone enters or leaves the rental unit An alarm to warn of any potential danger and potentially scare off scammers Smart wireless camera

It is essential to remember that wireless cameras can be part of a complete home security system or as a standalone option without the alarm, keypad and other components. Sometimes wireless cameras can simply be used to provide peace of mind to tenants. So, if they want to check the perimeter of the house without going out at night, they can do so through wireless cameras. All they will need is access to their computer, tablet or laptop.

Another reason to consider installing wireless cameras is if your tenants have pets. If your tenants are on the move, they could be reassured to be able to register their pets. Wireless cameras ensure that they can check in wherever they are. In addition, installing wireless cameras without all other components will be a more cost-effective option.

Voice-activated smart speaker

Did you know that the global smart speaker market is expected to reach $6.5 billion this year and, according to IMARC Group, could skyrocket to $27.5 billion by 2028?< /p>

According to the research firm, smart speakers refer to internet-enabled wireless devices that come with a built-in voice assistant...