We’ve seen climate change steadily climb the rental industry’s agenda in 2021. And the recent COP26 summit in Glasgow has put sustainability and tackling climate change on everyone’s mind. This explains why properties with eco-friendly features are attracting more vacation goers and residential home renters than ever before.
Rental prices of sustainably run properties are also likely to rise. A study in 2020 showed that eco-conscious Gen-Z consumers were already willing to spend an extra 10% on sustainable solutions.
To reap these benefits, choose property automation technologies that are sure to improve the environmental sustainability of your short-term or multifamily residential rental.
Still need some convincing about the benefits of this technology? Read on as we outline the different ways in which smart home tech can help better manage your rental property’s impact on the planet.
Smart tech: The secret to a more sustainable rental business
Smart home tech is key to driving sustainability across the rental industry by improving efficiencies in scheduling and maintenance.
But, it’s not just about monetary savings.
Proptech also significantly reduces your rental’s energy wastage in the following ways:
- Water sensors monitor usage and suggest ways to reduce water consumption. They can also detect leaks or frozen pipes to reduce risk of flooding and improve water efficiency.
- Smart home systems with predictive analytics ensure that technical issues are detected and fixed before there is a drop in the energy efficiency of home appliances. Thus, your smart home assets will run at optimal efficiency levels, enjoy increased lifespan, and require less maintenance spends.
- Energy usage tracking helps your guests and residents understand how much power appliances are using, and when. And they may use this data to intelligently devise ways of reducing electricity wastage.
- Remote control technology allows for heating, air conditioning, or any other smart appliance to be switched off, even when no one is at home. So, no more worrying about energy wastage because a tenant or guest forgot to turn off the lights before leaving the property.
The future outlook is green
Sustainability and tackling climate change are set to be a high priority for the rental industry in 2022 and beyond, as guests and residents come to demand green credentials in their accommodation.
We also foresee a lot more innovation in the home automation space to meet this green agenda.
The time is now to reduce CO2 emissions and run environmentally sustainable rental operations.
And smart home solutions, like those offered by PointCentral, are the answer.
Are you ready to join the green revolution? Contact us to find out more.