Whether it’s a smart door lock, community WiFi or a programmable thermostat, millennial and Gen Z renters want the latest in automated technology. These tech upgrades provide many benefits for both landlords and tenants.
Companies such as Stratis IoT and Zego sell smart apartment hub device hardware packages, while creating recurring software as a service revenue.
Attract More Renters
With more millennials and Gen Z renters entering the market, they have raised expectations for digital smart features. Landlords that are able to offer these features stand out from the competition and attract a higher quality tenant pool.
Smart devices save tenants money by minimizing energy consumption. For example, a smart thermostat will optimize settings to align with the tenant’s sleep and work schedule. Landlords can also offer smart plugs that remotely control electronics, and smart lighting that will turn off after a tenant leaves the building.
By offering these smart home solutions, landlords can create an apartment that is more energy efficient and comfortable for tenants. This enables landlords to reduce operational costs, while providing residents with a high-tech apartment they will love to call home. Choose from SmartRent’s hardware options and cloud-based enterprise software to streamline property operations, improve site team efficiency, and elevate the resident experience. Get started today.
Reduce Operational Expenses
Smart devices make it easier for tenants to monitor their utilities, which can save them money by cutting costs and reducing energy usage. They can also be used to detect leaks quickly, decreasing the risk of costly damage.
Similarly, property managers can use smart home technology to monitor vacant apartments, saving on energy costs and ensuring that lights and thermostats are not left on by contractors or painters. This helps them manage energy expenses and increase ROI.
Whether you have a single community or a portfolio, SmartRent’s innovative suite of solutions is designed to take multifamily property management to the next level. Delight residents with state-of-the-art smart -home technology, streamline work for site teams and safeguard assets, all from one enterprise -level platform.
Increase Property Value
As Millennials transition into homeownership and Gen Z enters the rental market, they’re demanding smart technology. Many are willing to pay extra for a property with automation features, so it’s important for owners to incorporate these upgrades into their communities to attract this new generation of renters.
Upgrades like smart locks, thermostats, lighting controls and smart plugs increase property value and provide a more attractive living experience for residents. These devices also minimize operational hassles for landlords by simplifying management and maintenance, and positioning your property as a forward-thinking option in a competitive rental market.
SmartRent’s scalable smart home community solutions allow property managers to monitor and control all devices on one enterprise-level dashboard. Our connected community solution includes smart apartment hardware, centralized security systems, gate and amenity entry, parking management, self-guided tours, asset protection, energy-saving thermostats, and community WiFi. These tools can be integrated into new construction or retrofitted into existing communities. Visit our website to learn more and experience smart home technology in action.
Enhance Tenant Satisfaction
With millennials transitioning into homeownership and Gen Z renters flooding the market, landlords need to keep up with tech-savvy tenants’ demands for smart home devices. Smart amenities like programmable thermostats, trash cans that generate grocery lists and voice command systems boost ROI by attracting younger tenants willing to pay a premium for convenience.
But not all smart technology is equal, and some raise privacy concerns. According to Haldeman, some smart home companies collect data on a tenant and “are, in theory, constantly in your apartment collecting information.”
SmartRent’s Smart Apartments platform addresses these concerns by connecting all smart devices into a single dashboard for easy management for site teams and a seamless living experience for residents. Eliminate energy costs with a smarter thermostat, prevent major damage with device automations and alerts for leaks, humidity and low batteries, and allow residents to grant access to guests with an activity log. The result is better workflows, a more convenient experience and happier tenants.