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Smart home technology has become a feature of so many properties, from appliances and entertainment devices to security systems. But, it’s also something that landlords and buy-to-let investors can take advantage of to create more desirable properties and to provide safer, more convenient living for tenants. It’s unsurprising that more landlords are seeking to invest in home automation, given the many benefits that it can bring.
One of the key benefits of home automation devices is added security, which is not only of benefit to landlords but also to the tenants living in your property. It means that if the property is empty for any length of time, such as when tenants go on holiday or between tenancies, then you have confidence that your investment will be secure and protected against break-ins or damage.
Smart smoke alarms or water sensors can be used to reinforce safety in the property, while security cameras provide remote access from the exterior of the home so that tenants or owners can monitor the area. Certain devices can also provide smartphone alerts if a door or window is left open, so you can deal with the problem before it becomes a security threat.
One of the biggest home automation trends is convenience and time-saving measures, which these devices are ideal for. Adjusting the thermostat on multiple properties at the click of a button as a landlord, or being able to close the blinds on your commute home from work as a tenant are both incredibly convenient and can save you lots of time throughout the day.
This type of touch-free tech can create a comfortable living space for tenants, especially in multiple-occupancy households, and can make managing homes easier for landlords in between tenancies (when the property is empty).
Home automation can do wonders for the environment, but in turn it also helps to lower energy costs too. From smart thermostats to lighting, there are various devices now that can make for a more comfortable and energy-efficient home for tenants. And, if you’re a landlord who offers properties with utility bills included, it also helps to increase your profits by minimising your expenses each month. In fact, installing a smart thermostat could save those paying the bills over £150 per year.
Rental units equipped with voice-command tech and touch-free devices are more appealing to renters, especially if your tenants have the option to customise the set-up to their own needs. It makes personalising the property much easier for tenants and can make the property feel more like home, which can often be a complaint of renters who may not feel like they have the option to make the space their own.
Tenants are more discerning now – they want energy-efficient homes and this is something that home automation can deliver. But automation tech can also give tenants the opportunity to expand the existing set-up with integrated devices to tailor it to their needs, from robot vacuums to smart TVs and audio systems, which can make your property as a landlord a far more appealing option compared to other homes on the market.
In addition to making a property more appealing when it comes to finding (and keeping) tenants, landlords also have the added bonus of higher rental value when they invest in automation technology. Contemporary homes that are kitted out with the latest technology and smart devices could benefit from a higher rental value, which can result in bigger profits for buy-to-let investors who are willing to spend a bit more up front on home automation appliances and tools around the property. In many cases, the money invested in purchasing and installing smart tech is made back quickly, making it a very worthwhile decision.
Home automation has seen a massive rise in popularity in recent years and it looks to be here to stay. For landlords, this provides a great opportunity to earn more, attract (and retain) renters and create a much safer and more comfortable home for those living in the property. When choosing home automation technology, consider the type of tenants your property is likely to attract and the tools or devices that would benefit them the most.
While most tenants will appreciate the convenience of smart devices, ensure that any camera devices are located in spaces where their privacy won’t be invaded and assure tenants that you won’t be accessing units or monitoring camera footage when the property is occupied to give them the confidence to use these tools as they wish.
In providing smart home capabilities to tenants, and giving them the option to personalise and integrate other devices into the system, landlords can create a more attractive and potentially more lucrative property for themselves.
Posted by Simon on May 26th, 2010
Posted by Simon on November 8th, 2012
