In a competitive rental market, it helps to have a clear marketing message. Set your home apart from the competition by investing in smart home upgrades so you can market the home as modern and connected. The innovative high-tech vibe will set it apart from similar properties. You’ll reap the benefits of having a high-value marketing theme as well as efficiencies that help you manage the property and save money.
Smart home features will set your property apart
Online platforms like HomeAway help owners maximize income by marketing a short-term rental to a wide audience. Using a website like this makes it easy to post pictures, describe the high-tech features, and rent it out for a profit. Smart home features will help drive occupancy so the home can generate income for you. Choose interesting upgrades that will attract renters and help you manage the property investment for cashflow like smart door locks, thermostats, and sprinkler system.
Install a smart thermostat to save on utility bills
Smart thermostats deliver comfort when the property is occupied and save you energy and money when it’s not. Homeowners can control the temperature and monitor energy consumption in real time from an app. You’ll know immediately if the temperature is set outside of reasonable limits, and the app will let you know the projected effect on your utility bill.
Installing a smart thermostat is an inexpensive project that pays for itself quickly. Popular models like the Nest average about $200, but the average homeowner saves up to $180 per year on utility bills for heating and cooling costs.
Smart LED light bulbs will light up your rental
Replace existing light bulbs with high-efficiency smart LED bulbs to add another energy-friendly feature to the house. Although smart light bulbs cost $10-$25 per bulb, LEDs last more than ten years versus the one year life of incandescent bulbs.
In a house running 40 light bulbs for 3 hours every day, energy savings would be around $300 each year for the same brightness equivalent. But the real savings comes from being able to remotely control the lights with motion sensors, programmable routines, and an app. You can program the lights to come on when a new renter arrives, and help the home look occupied to prevent criminal activity.
Sprinkler systems preserve expensive landscaping
Attractive landscaping is a substantial investment of time and money. Installing a smart sprinkler system allows you to set up automated routines so the grass gets just enough water. They’re easy to program and monitor remotely from an app. Choose one with an integrated water sensor that automatically turns the system off if there has been significant rainfall; it will conserve water, save money, and can help you comply with water conservation laws.
Smart locks you can reprogram for each visitor
One convenient technology that provides a substantial benefit to owners and visitors alike is a smart door lock. You can program the lock with a unique PIN for each renter, eliminating the need to arrange delivery and return of a physical key.
Smart home technology will land you more bookings
When choosing upgrades, it makes sense to concentrate on high-tech updates that save you money. Short-term renters prefer homes with updated, modern amenities that comply with conservation efforts. Using smart home technology helps owners manage the house remotely and will appeal to potential renters.