How much rent premium are smart home features worth?

[Krishna Chava]

I am noticing that smart home amenities for new construction apartments and homes are becoming common. For those of us who own older non-smart properties, I want to analyze cost benefit of retrofitting. It is possible to retrofit an apartment with a smart lock, video doorbell, smart thermostat, voice and app controlled lights, smart interconnected smoke alarms etc.,  How much rent premium will your tenants pay? Please pick closest number among these 3 options.

1) 0

2) 25

3) 50 or more

Any other ideas to increase rent with smart home features?

[Max T.]

Market specific.

The most likely answer is zero dollars. It only matters when the rest of your competition is doing it and you aren’t.