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How smart home automation tools are simplifying the lives of property managers and attracting renters: Rently

How smart home automation tools are simplifying the lives of property managers and attracting renters: Rently
In just the last few years, providing digital living technology in an apartment or home rental has become a must have amenity – especially if a property manager wants to attract the millennial-aged tenants that are willing to pay higher rent for these features.
In just the last few years, providing digital living technology in an apartment or home rental has become a must have amenity – especially if a property manager wants to attract the millennial-aged tenants that are willing to pay higher rent for these features.

Smart home technology is the wave of the future for many reasons; most of which centers around convenience, not just for the renter, but for the property manager as well. While smart home technology is changing the way renters interact with their homes, it is also changing the way property managers monitor and manage their portfolio.

Not only do smart home tools meet the preferences of tech-savvy millennial renters, but they provide property managers with a wide range of financial and operational benefits, often through an easy-to-use cloud-based platform accessible via Wi-Fi or cellular.

Top five ways property managers can benefit from smart home automation tools

Property managers can reduce operational waste by eliminating keys and re-keying. Installing smart home automation tools for property managers can begin as easily as integrating electronic deadbolts, eliminating the need for physical keys in favor of push button or touchscreen keypads. There is no wiring required and the locks can be installed in minutes using only a screwdriver.

Property managers can streamline access control. Leveraging the keyless lock system, property managers are able to streamline access controls with duration codes for maintenance and contractors or potential renters viewing the property. Property managers no longer have to waste time coordinating these types of entries or traveling back and forth to allow access.

Property managers can deliver enhanced security. With a keyless lock system, property managers or renters can lock, unlock and monitor a home right from a smartphone and access a complete audit log to keep track of when guests enter a property.

Property managers can manage energy through consumption and predictive maintenance. Property managers can set thermostat schedules and limits for unoccupied properties and can hand off control to long term renters in apartments and homes via an app or online portal. This allows property managers or long-term renters to save on utility bills by remotely adjusting temperatures and setting seasonal schedules.

Property managers are able to increase rent for smart facilities. A survey by Wakefield Research found that 86 percent of millennials living in multi-family dwellings were willing to pay more for a “smart” apartment and on average would pay nearly a fifth more rent for smart home features.

Today’s tech-savvy renters expect more from properties and property managers are looking for new ways to attract renters. Smart home functionality makes sense for both sides, meeting the luxury requirements of millennial renters and bringing in financial and operational benefits for the property manager.


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