Should You Install Smart Appliances in Your Rental Property?

Smart appliances are growing in popularity every year as they become more affordable and more integrated with other devices, like the Amazon Echo, the Nest Hub and the Facebook Portal. Installing smart appliances at your rental property is one way to attract tech-savvy tenants, but is it worth the trouble?

What Smart Appliances Are Available?

There are smart devices for every area of the home. Some of the most popular ones include home security cameras, thermostats, lighting, refrigerators, outlets and dishwashers. Smart appliances have become much easier to install, and as long as your renters have a home automation hub (or you provide one), they can take advantage of the convenience that they have to offer. However, there are upsides and downsides to doing so.

The Benefits of Smart Appliances and Devices

  • Home automation makes your property more secure when you install cameras and sensors outside. These security systems give tenants peace of mind and let them keep an eye on the home or apartment they are renting when they are out of the house through a simple app.
  • Smart locks let you change the locks in between tenants without needing to completely install a new lock and set of keys. Instead, all that you need to do is change the access code. Smart locks can also let contractors and workers in and out of the property without you needing to let them in in-person, which saves you time while keeping the property secure.
  • Smart thermostats can reduce energy costs, which is great for tenants if they pay the energy bill or good for you if you include it in the cost of rent. When you lower the cost of monthly bills, you increase the profitability of the property.

The Downsides of Smart Appliances and Devices

  • Smart appliances are an up-front cost, and if you are not already considering upgrading the thermostat, lighting or appliances, it could be a steep one-time expense to get everything set up.
  • All smart appliances need Wi-Fi to work properly, so if you are in an area where the internet connection is unstable or unreliable, it could lead to more headaches than it is worth.

All County Denver South Property Management Is Here to Help Your Property Thrive

All County Denver South Property Management is here to help property owners get the best return on their investment through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. For a complimentary quote, call us today at (720) 664-4550.

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