Technology has become so progressive that new gadgets are popping up every few months. They have become a staple in our everyday lives that they are now considered necessities rather than luxuries.
As a landlord, you may want to keep up with the trend of using smart devices in your business, but are having second thoughts. It can be very costly, but it is only natural that you will want to invest in a worthwhile venture. Having smart devices can increase your property’s value.
• Competitiveness
The generation that is in the working-age bracket nowadays is the millennials. They grew up watching technological innovation come to life. They went from cassette tapes to mp3 players and VHS to online streaming. That is why they are more likely to prefer staying in a property with high-tech gadgets.
This generation is known to choose to rent rather than own properties. You must try to compete and provide special features to make your property stand out. You can highlight these features when you create your property listings at Padleads, and the other popular websites you syndicated it to. Imagine having the edge that some landlords do not have.
• Convenience
Using smart devices is not only for the show. There are advantages to using smart devices. One of the major benefits is having the convenience to get things done faster. It will not only be convenient for you, but also your tenants.
With your smartphone, you can control the lights, thermostats, and your unit’s locks. This helps in managing your property with a few clicks here and there.
• Saves money
Yes, these gadgets are expensive, but they can help you save money too. Adjusting the thermostat using a smartphone can make your tenants save ten percent of their usual costs.
There are also gadgets called smart lights that you can control using your phone. You can set the schedule when the lights will turn on and off. For example, you can adjust the lights to automatically turn off at 5:00 am when it is not needed anymore.
• Security
One of the things that the tenants will check for is if the property is safe. Having the basic items for securing a property, such as locks and alarms, are not enough anymore. You have to provide extra safety measures to attract tenants.
Examples of these are smart cameras that will alert the tenant if someone arrives. Installing cameras in the property can also discourage burglars and trespassers because they know that they will be recorded. These will not only protect your tenants but your property as well.
I know this is a lot to take in, and you might be confused about what devices to get. First, you have to identify your target market. If you already have one, you can determine which gadgets will be beneficial to them.
• Securing the property
One thing you should prioritize is to upgrade your security system. This will benefit all your tenants, including you. You can install smart doorbells with cameras that will allow your tenants to see who is outside without opening the door.
Also, do not forget the smoke and carbon monoxide detectors. This is one investment that you should make because it will warn your tenants for any fire accidents.
• Utility savers and smart appliances
I mentioned the thermostats that can be adjusted using smartphones. It will help your tenants save money on their electricity, which they will greatly appreciate.
Maybe it’s also time for you to upgrade your property’s appliances. There are a lot of appliances that have recently been released and they are very high-tech. There is a refrigerator that will take pictures every time someone opens it. A griller that will notify you on your phone if your meat is cooked actually exists.
• Entertainment
Some tenants choose to have a fully-furnished unit rather than buying new furniture and appliances. In terms of entertainment, you can purchase smart TVs or high-end speakers for the property.
The only constant thing in this world is change and the only way to deal with change is to embrace it. If the change is good, you have nothing to worry about. Adding these smart gadgets can increase your property value and that’s a good thing.