Your investment property should be making you money, not costing you. Break-ins, water damage and high utility bills can quickly erode your profit margins. By investing in smart home devices, you not only protect your investment properties, you also increase your appeal to potential renters.
Reduce Energy Costs
Installing a smart thermostat helps to protect your property and reduce energy costs. Smart thermostats adjust HVAC performance based on occupancy, and can save 12-15% on heating and up to 23% of your energy bill on heating and cooling combined.
HVAC analytics built on six million US households can tell you when an HVAC first starts to misbehave, before guests complain and owners get big bills.
Smart thermostats control humidity and help you to track your energy use. This shows how energy-efficient appliances and changes in behavior affect your HVAC usage.
While smart thermostats allow you to schedule your heating and cooling, you can adjust your HVAC remotely using an app, should your schedule change. Your smart thermostat can notify you when HVAC issues occur, so you can act quickly to prevent high energy bills.
Prevent Water Damage
Water leaks can cause structural and cosmetic damage to your rental property. Water that seeps in under flooring, walls and roofs can damage dry wall and rot structural framing. Leaks also cause mold and mildew that can result in a long list of illnesses.
The problem with leaks is that they are often out of sight, tucked away in flooring, walls and roofs where they can cause much damage before any visible signs appear. With rental properties, your tenants may not report leaks, and burst pipes can cause high water bills and flooding if the property is empty.
There are a wide range of leak detectors that are easy to install and that can alert you to leaks before they cause flooding and damage.
Protect Assets with Access Control
Smart home devices help you to control access and improve safety for your rental properties which not only protects property owners from theft and vandalism, but also protects tenants and offers them an incentive to rent.
Keyless access allows you to monitor and control access to properties remotely. Tenants like keyless access because they are able to gain hands-free access with the app and will never have to search for their keys again. Property managers invest in keyless access because they can grant access to service personnel even when they aren’t there.
Video and doorbell cameras allow tenants to see who is at the door or to check up on kids and pets when they are not home. Smart properties boost your appeal to prospective tenants and enable you to protect your property.