Today’s generation of renters don’t just look for a decent, well-maintained and well-priced space. They want accommodation that’s actually designed for 21st century living. Which means it’s the high time you invested in
Australian property; let’s look at some of the features you’ll want to consider:
- Locks: Beef up security by installing smart locks. No longer will you need to swap locks when a tenant moves out; just change the PIN code and you’re good to go. You could even do it remotely from your smartphone — very useful when you need to allow temporary access to your maintenance contractors. Or when you want to show a vacant unit to a potential renter; smart locks will prove especially helpful if yours are short-term rentals with high turnover rates.
- Thermostats: If remote access control seems like a great idea, so too should smart thermostats. These devices allow remote management of indoor temperature, with some models even being capable of adapting to your tenants’ routines. That translates to more efficient energy use, which is a boon for renters as far as utility bills are concerned.
- Lights: Consider installing smart LED fixtures for your next lighting upgrade. Besides being much more durable than conventional lights, LEDs only use a fraction of the energy required by the former. Smart technology will bring more savings by allowing renters schedule when their lights turn on/off, or control them via remote commands. Outdoor security lights could also be paired with motion detectors so they only switch on when necessary.
- CO Detectors: The law now requires Australian property owners to have carbon monoxide detectors in all their units. Instead of just sounding an alarm, smart sensors will notify you and/or your renters via phone when there’s a threat. You’ll also be alerted when someone tries to interfere with the devices in any way.
Smart Technology is a Prudent Investment
Studies show that the majority of renters would be willing to fork out more for homes with smart amenities. So there’s no doubt that your investments will pay off. Depending on your target demographic, a rent increase of up to 20 percent should be justifiable.
Monetary benefits aside, smart technology will help you manage your units in a more efficient manner. You’ll be able to keep a close eye over your properties and attend to maintenance issues without having to commit too much time or effort. It’s a way to turn your business into the passive income-earner you originally wanted it to be.