Should Your Rental Property Be High-Tech?
If you are a landlord, then you know that there is a lot to think about when it comes to renting out your property. From finding the right tenants, to maintaining the property itself. But one thing that all landlords should consider is investing in high tech rental property management software.
This will help ensure that your investment does not go under and can also provide many other benefits such as saving time on tedious paperwork and streamlining processes for easier access to information.
At The Letting Line, we are keen to help you make an informed decision about letting property, and there are some key benefits to offering a high-tech rental property:
1. Landlords and tenants can control the temperature of their property remotely – handy for landlords during void periods
2. The home will be more secure and have a lower chance of break-ins – again, this is positive for landlords and tenants
4. Landlords who use high tech rental properties are able to better monitor how much electricity their tenants are using and what they're doing in the house, which is useful for tracking down energy theft or finding out if renters are making a mess that damages the property – this isn’t the number one reason to use these devices, but with landlords having concerns about criminal activity at their rental property, this is a smart way to feel safer about what is happening in the rental accommodation
5. Property owners who invest in these types of homes also save money on insurance rates because high tech properties tend to have fewer accidents than older buildings do – if you are willing to pay in the short-term, you can enjoy longer-term savings
These are just some of the benefits associated with upgrading the level of technology in a rental property, and there are short and long-term benefits for landlords to consider.
High-Tech features are great but the cost worries many tenants
The poll, carried out by Ascend Properties found:
29% of respondents were “somewhat more likely” or “much more likely” to rent property with high-tech features
However, 74% of respondents said they are unwilling to pay more for these high-tech features
23% of respondents were interested in technology’s ability to save money on utility management
Even fewer respondents were interested in technology’s ability to improve security, remotely operate heating or lighting or utilise voice activated technology
Ascend managing director Ged McPartlin says: “While smart tech is a great addition to the home, residents aren’t quite ready to pay above the odds for the privilege of a fully automated home of the future. In fact, it’s important to get the basics right and provide the fundamentals such as good wi-fi, or a well-maintained outdoor space, before you start to add the additional bells and whistles.”
If you are looking for guidance or assistance in the Enfield rental market, we can help. At The Letting Line, we are a specialist letting and property management agent serving Enfield, Barnet, Potters Bar, Brookmans Park and surrounding areas.
We can arrange a free valuation for you, and if you are looking to contact us, please call us on 020 8342 1234.