Installing and using smart devices like key fobs and smart phone controlled light switches and thermostats in rental units is not only a growing trend, but also becoming a necessity for many apartment or rental unit owners because of the many benefits that they can offer. For the renters, these smart devices can make their apartment living much more convenient, and for you, the landlord, it can mean so much more.
Apartment units that have smart technology installed in them have higher market value, and thus cost more to lease. That being said, you can greatly increase your rent and thus be able to earn more. Although it may seem that no one pays particular attention to such apartment units, the truth is that there are people who are willing to rent and spend more money on such rental units, especially at this point in time where people are making more money and understand the conveniences that come with a more technologically advanced living space.
To date, only a small percentage of rental units incorporate smart technology into their units, and if you are one of them, then you’d basically get the prestige that they are enjoying. You’d be able to improve people’s perception of your rental units, and thus be able to attract more of them. Again this is a growing trend, and jumping in early on the bandwagon can do a lot for your business.
Easy and Automated
Incorporating smart technology in your rental units also means that most of the jobs that you usually do manually can be automated. For instance, there are automated systems that immediately detect and alert you of any problems that may be happening in your rental units, like excess moisture brought about by leaking pipes or unusually high temperatures which can cause fires. Another example is automated billing, where the renters are automatically charged every due date (usually through credit cards) so you don’t have to worry about them missing a payment.
Installing smart devices and advanced technology in your rental units may seem like a huge investment, and it usually is. But then, with all the benefits that they bring, they are bound to be one of the best investments that you can make for your business.