Smart Home Rental Property?

Question

Does anyone use or see any benefit from having smart home technologies in their rental properties? Obviously, it depends on the quality of the home. My rentals are class B neighborhood type homes and small apartments.

I'm pretty ignorant to the whole smart home product line, a programmable thermostat and remote garage door opener is the fanciest I've used. Are there other products that could be helpful as a landlord? I just see it as more troubles, more maintenance, more that can break. Am I missing anything useful for rental land smart homes?

Lesley Resnick · Answer

I always thought if I got into the AIRBNB business, I would use that technology to monitor and control the house without going onsite.  I could change the codes for the locks and shut off the A/C after the guests leave.

Parker Eberhard · Answer

@Julie Marquez like most ‘of the moment’ technologies, the smart home system you install now will be obsolete in three years.

Ray A Delfi · Answer

@Julie Marquez yes stay away unless you have a solid professional system installed by professionals. I own a Custom electronics installation company #Teatrograde, so I have a system I install that will benefit me as the owner but also provides ease and comfort to the tenants that pays for itself by providing my tenants with wifi at an additional cost, competitive to the internet providers. But it is not recommended unless you know what you are doing and it’s a “set it and forget it” system.

Julie Marquez · Answer

@Robert Seltzer so makes sense that anything I pay for I should want to monitor. But no use in having a fancy oven or anything

Julie Marquez · Answer

@Mark Fries So funny! I'd say take them down, but I've only been to Jacksonville once

@Nathan G. I think you're right, I already spend too much time teaching them basic things like lighting the pilot on the hot water tank

@Bob Okenwa I don't think tenants are really missing out, they probably have never had a smart home and won't ever get to as long as they stay renters

Ray A Delfi · Answer

@Julie Marquez yes I’m actually in the process of meeting with hotels/motels that have the Free HBO. They are most likely paying up the wazoo for something no one uses. Everything is being streamed now a days and will benefit with setting up a hospitality wifi system. As far as rentals go if the cable company charges $75 for wifi and you offer it for 60 per unit it’s a win-win for you and your tenants.

Julie Marquez · Answer

@Ray A Delfi We used to pay for everyone's basic cable through a bulk Comcast account, but just got rid of it. I don't think everyone was even using or even cared that we got rid of it. Wifi would be more convenient, this was just left over from the cable heavy days.

Robert Seltzer · Answer

Smart Home technologies reduce operating costs through monitoring and access to critical resources like power, water gas.  So the question is whether having real-time access to these items will reduce the operating costs for your property for both you and the tenant.

Smart Home Rental Property?

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