Tips From The Top

We’re seeing more demand for smart technology in rental property, among both management and tenants.

If you’re building new rental property, or interested in converting an existing rental property, you’ll want to take note of these current trends. They can make your role as an owner a lot easier, and make your rental properties that much more attractive to tenants.

One trend that’s high on everybody’s list is the smart key. An electronic key system improves security and gives the owner and tenant more flexibility. A single key for a tenant can be programmed to grant access only to the doors that tenant needs: the main doors, their individual unit, and other shared spaces such as laundry, fitness room, garage, elevators.  When the lease ends, that key’s access instantly ends. The former tenant can then turn in the key at a convenient time. Delivery drivers and maintenance crews can also be given keys to grant access only to the spaces they need, such as the front door and parcel room.

If an incident occurs, management can use the electronic key to learn who entered that space most recently.

And speaking of security, a single automated platform allows management to use their mobile device to instantly gain access to any of their rental properties. Cameras, HVAC systems, and more can be monitored and controlled from anywhere.

Video-based intercom systems are a step above the old standard voice systems. Tenants can see who is buzzing their unit and let them in. Intercoms strategically placed throughout the property can allow tenants to see their guests from any location. The tenant hosting a family gathering in the party room will definitely appreciate being able to let in the caterer and guests from the party location.

Smart amenities are a big bonus for potential tenants. Virtual fitness rooms equipped with smart exercise equipment, entertainment rooms with A/V advancements, and a shared high tech office space are all extras that tenants are willing to pay more for.

Smart tech improves climate control, saving money and energy. For example, today’s state-to-the-art, high-efficiency heat pump systems are three-times more efficient than standard electrical heat. That kind of efficiency benefits the tenant if they are paying for their heating, or management if they’re footing the bill.

If you’re building new rental property, don’t let technology needs be an afterthought. The time to lay the foundation for future tech developments is now. When property managers wait to incorporate technology needs until after the building is completed, it means retro-fitting a new property – which is expensive, time-consuming, and unnecessary. Engaging a technology integrator early in the building process means that the foundation for your current and future tech needs is set.

As smart technology in the home continues to grow, so will demand. Based on how fast things have developed just in the past five years, we foresee that tenants five years from now will want smart technology – and be willing to pay for it.

To learn more about how your rental property could benefit from smart advancements, call us at Jackson Hole AV. We’d love to discuss the possibilities.