It's a tech-driven world we live in today. That is not going to change in the future. In fact, as technology advances more and more, every bit of our daily lives will depend on technology. Technology has changed the way we function. It has impacted our daily routines, work, and lives. It has transformed industries and shaped businesses. Real estate is no exception.
Technology in the real estate industry is now more evident than ever. We are witnessing how smart home upgrades can improve the rental property units for both owners and tenants.
You might think a smart home is a concept from a futuristic movie, but the future is here. Many smart devices facilitate the way we live in our homes and boost the property's appeal and value. This article will tell you how to increase your rental property's value so that your old and new tenants will love having it as a home.
Integrating Smart Thermostats
Installing smart thermostats is one of the best smart upgrades you can do to your rental property. You know that the utility bills related to heating and cooling are one of the tenant's most significant expenses, so finding a way to decrease these bills and enable them to take care of the planet is by having those smart thermostats in place.
They are smart controls that optimize energy use based on the preferences and presence of the tenants at the home. Not only do they lead to lower energy bills, but they also prolong the life of HVAC systems.
These smart thermostats are used with home automation via Wi-Fi and can be programmed to allow the user to control the temperature of their home throughout the day using a schedule. The tenant can control them even when not at home via smartphones, laptops, or other internet-connected devices. Using sensors, the smart thermostats will determine whether or not the house is empty and can stop heating or cooling until the tenant returns.
Installing Smart Water Saving Devices
In the same way that you can help tenants lower their electricity bills, you can also help them save water with smart water-saving devices. These devices include low-flow shower heads, smart hose timers, and leak-detection systems.
With smart water leak detectors and shut-offs, you can prevent severe damage when leaks occur. They are placed near the places where leeks are likely to occur. With the help of an app or via the smart home ecosystem, the tenant can get notifications about what is happening and initiate automatic shut-offs. They are smart water devices that learn daily water flows and can send alerts when unusual activity occurs.
Smart host timers are used to irrigate the yards or new plantings. Since hoses are enormous water consumers, if they are not shut off when the irrigation process is finished, there will be overwatering, and the tenant will end up with a huge bill at the end of the month. However, with these smart water hose timers, the user can regulate the whole process automatically in terms of how much time they will work and when to shut off.
Smart Lighting
You might think that having bright lighting is only a comfort and convenience feature for the home, but the fact that you can switch lights off from a distance is genuinely energy-saving. They work with a chip inside, which communicates with other devices wirelessly. Every light is connected to an app, the smart home assistant, or other innovative accessory so the tenant can automate the lights, change their color, or control them remotely.
They can also set timers and sync them to TV, music, and games. They can use voice control or the app when you are out of the home. Also, outdoor lighting devices control the lighting on the home's exterior.
A more advanced step is smart LED lights, which don't heat up like other lights and prolong the chip's life inside. They can produce millions of light colors and are the current standard in home lighting due partly to LED energy efficiency.
A Few Final Thoughts
In conclusion, adding smart, energy-efficient upgrades to your rental property is a wise idea for you and your tenants. As technology advances, more renters are looking for homes that offer modern features that make life easier, safer, and more eco-friendly. Upgrading your property with these features can attract more tenants and increase its value. Staying on top of these trends helps you stay competitive in the rental market while boosting your property's appeal and long-term worth.
At Priority One Real Estate, we have over 40 years of combined experience managing properties in San Diego. Our team is dedicated to helping property owners increase the value of their investments by offering clear communication, transparent accounting, and expert property management services. Whether you want to boost your property's value with intelligent upgrades or need professional management support, we're here to ensure you get the most out of your rental property.
Let us help you succeed with our reliable and experienced services.
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