While there are plenty of ways you can improve your build-to-rent property with technology, not all are great for renters. However, there are some excellent technology additions that renters will love.
If you want to add value to your build-to-rent property, you can do so by adding to the home value or providing features allowing you to charge more for rent. In some cases, both can be accomplished. Let’s look at some of the best technology additions for build-to-rent properties.
Smart Locks
Adding smart locks to any home is just a good idea. It allows those living in the home to gain a sense of safety and a bit more convenience. If there is a garage, adding a high-quality garage door opener is a smart idea.
Along with the garage door opener, make the front door lock a smart lock. This can make it easy to control the lock from a smartphone, which many tenants will like. It’s easier to open the door for those you want to gain access to and leave it locked for strangers.
Video Doorbell
Often, a video doorbell will work hand-in-hand with a smart lock. Tenants will be able to see who is at the door before authorizing the lock to open. It can help keep out unwanted strangers and allow tenants convenience they won’t get without a video doorbell.
Plus, for you, it’s a security feature that helps keep your build-to-rent home safer. You might even be able to charge a little more for rent when you add smart locks and a video doorbell.
Smart Thermostat
Save your tenants and yourself money with a smart thermostat. This type of technology addition can help keep the temperature in the home comfortable when tenants are home and give the HVAC system a break while they are gone. It keeps energy bills down and puts less wear and tear on the HVAC system.
If you only add one item to this list, make it a smart thermostat. It’s an affordable way to save your tenant’s money and keep repairs down for you. Plus, this is another upgrade you might be able to charge a bit more each month for.
Smart Smoke Detectors
A smart smoke detector will likely pay for itself when you see the insurance discount you’ll get. It seems like a cool device for tenants, but this one is more for you than it is for them. Sure, it will help to protect your tenants in the event of a fire, but for you, it will likely provide a nice insurance discount.
Smart Moisture Detector
You can protect your build-to-rent property with a smart moisture detector. While this feature may not allow you to charge more for rent, it can help prevent major repairs from water damage. If a leak happens or humidity causes too much moisture, you will receive an alert. Then, you can handle the issue before it causes major damage.
Some of these technology additions will increase your home’s value, while others will provide a new level of protection. Consider which ones fit best with your build-to-rent property.