According to recent studies conducted in the real estate market, adults under 40 are the next big group of renters hitting the single-family rental home market. These group of adults have needs and wants that are notably different from those of the previous generations. As a property owner in Waunakee, you have to keep tabs on what is being targeted by these individuals so you can make sure that your rental home property is kept clean and the upgrades are secured enough to keep up with the competition.
Handheld smart technologies were the breakout business in recent years, and since then smart homes are also becoming more common. Many of the young renters have grown accustomed to specific technologies growing up, and their family homes are more likely to have used smart thermostats and lighting. With these technologies, it’s possible to adjust a thermostat or turn lights on or off with a few clicks. These technologies are not just fancy extras: smart technologies can significantly improve the performance of a rental home, as well as attract quality, long-term residents. Let’s take a closer look at smart thermostats and lighting, and what benefits they might offer you as a rental property owner.
Upgrading to a Smart Thermostat
What makes a thermostat “smart”? Smart thermostats are technically programmable thermostats that have the ability to determine what to do from your actions. They track energy consumption in real time, adapt automatically if no one is home, and control the home’s interior climate remotely. With considerations to how costly it can be, smart thermostats can save residents hundreds of dollars each year on energy costs and ensure a customized, comfortable climate all the time. Although smart thermostats can be a bit expensive, once you factor in the amount of savings that you get from using it will more than compensate for the cost in a relatively brief amount of time.
Upgrading to Smart Lighting
Smart lighting, like smart thermostats, is a lighting system designed to save energy. High-efficiency fixtures and automated controls can adjust automatically based on how many people are in the home and how bright it is outside. Smart lighting can be programmed, controlled with an app, or otherwise customized to conserve energy and improve security. Amid the smart technology upgrades, smart lighting is one of the easiest and least expensive options, which makes it an awesome place to start.
For the tech-savvy renters of today, the protection, accessibility, and effectiveness of smart technologies is a strong lure. Rental property owners with these features may find the great breakthrough in attracting the under-40 crowd by upgrading to one or more smart features. For more information about Real Property Management Greater Madison Metro, please contact us online or phone us at 608-310-1290.