Smart home gadgets are a vital investment for rental properties.
Short term rentals are becoming increasingly popular all over America, with the average rental rate (in certain markets)increasing year over year. This can make for a lucrative business if it’s managed right.
As with any business, being managed right means protecting your assets. Rental properties are no exception, especially short-term units where there is a constant turnover of keys, guests, and visitors.
If you are managing a short-term rental you know that overseeing a unit can be difficult to do on your own. Installing smart home gadgets that are monitored by a property management company can substantially reduce the time you spend to create the revenues you need. Technology such as cameras, locks, thermostats, and motion or noise detection sensors can not only improve the security of your property, it can also add to the bottom line of your unit.
Prevents Unwanted Intruders
Short term rentals by nature experience lots of people coming and going. Without electronic gadgets, it’s nearly impossible to monitor who is coming and going from the property at all times. To solve this issue, smart gadgets can be connected to a 24/7 monitoring system that will record, note and signal when people enter the unit. Plus, this monitoring can all be done remotely and connected to apps on smartphones, computers or tablets which eliminates the worry of potential intruders and thefts.
Spots Issues Quickly
Short term rental units can suffer a greater amount of damage, (and on a more frequent basis) when compared to long-term rentals.
However, with a smart home system, cameras can be used to monitor the outside structure and area which can make it easier to assess the unit remotely and spot issues quickly. For instance, if more guests/vehicles are accessing the property than normal. Every property owner’s nightmare is a guest throwing a massive party, damaging the unit, and no one knowing until the cleaners arrive .
Without the help of remote systems, it’s impossible to know what is happening to at your property in real- time. Trust and verify is our motto at PMI Utah!
Transitions Become Easier
The most difficult part of short-term rentals is having to turn-over the unit to new guests. But, this process can be made much simpler with the help of smart home gadgets. Certain gadgets such as smart home locks and thermostats can be re-set to new passwords and codes which eliminates the need to exchange keys with each guest. This not only saves you time, but it also makes “turning” a unit more efficient and cost-effective.
Reduces Energy Costs
Smart home gadgets can also improve the bottom line in your short-term rentals with devices such as smart home thermostats and lightbulbs.
These gadgets can easily be set (and locked) remotely from apps on smart devices. The obvious savings is that heating/AC systems and lights can all be turned down/off when the unit is being transitioned between guests, which means immediate cost savings.
Optimizes Management Operations
Given the expanding short-term rental market, installing devices is now really almost a necessity. Guests have more properties to choose from than ever before and are demanding and willing to pay for convenience.
If you are a property owner that needs questions answered or just a bit of industry info, please Call Us at 801.228.0124 or click the link to Chat with Us 24/7/365.