Smart Home Technology for Your Investment Property: Making Tenets and Your Wallet Happy!

You know that investing in real estate is a smart move, but what about when it comes to your investment property? Making your rental property up-to-date and desirable by tenants is key, but sometimes installing the latest and greatest tech upgrades can seem a bit daunting. But don’t worry, investing in smart home technology can have a hugely positive impact on your investment – tenants will be lining up to sign their lease!

What is Smart Home Technology?

Smart home technology is all about making life easier (and sweeter!) for both tenants and landlords. It encompasses everything from connected home security to automatic systems for lighting, HVAC and even appliances.

The Benefits of Smart Home Tech

Alright, so we know why you’re here: what are the benefits of investing into smart home tech when it comes to your investment property? Let’s start with your tenants:

• Increased convenience: Everyone likes the idea of convenience…especially when it comes to the comfort of their home. Voice command enabled lights, window shades, and thermostats provide tenants with the ultimate level of comfort and convenience.
• Smart Security: Wireless locks and cameras mean tenants can feel safer in their rental property. Smart security cameras can also send you alerts when someone is on the premises, without the need for tenants to sign in or out.
• Eco-Friendly Electronics: Smart technologies like energy efficient appliances and lights not only help tenants reduce their electricity bills; but showing your tenants that you care about their impact on the environment may just make them stay longer!

But those aren’t the only benefits. Smart home technologies can also benefit you, the investor. You’ll be able to easily monitor what’s going on in the rental property remotely and when you need to send repairs, you can easily schedule them remotely. Plus, you’ll be able to easily adjust the rent to keep up with market trends.

The Bottom Line

Investing in smart home tech for your rental property has a ton of benefits; like improved security, higher rental prices, and shorter tenant turnover. And, you don’t have to break the bank on these kinds of upgrades! There are plenty of cost-effective options like voice-command LED lights, automated window shades, water shutoff systems and more. So, what are you waiting for? Get started on making your investment property smarter today!