Landlords – Should You Install a Smart Thermostat in Your Rental?
Nowadays, tech is all the rage, and internet-of-things devices seem to be popping up all over the home and office. From smart speakers like Amazon’s Alexa or Google Home to WiFi-enabled refrigerators, it can be hard to sift through the options if you’re a landlord looking for tech that will really make a positive impact in your rental market.
One device that is frequently discussed in regards to its cost-saving benefits and other efficiencies is the smart thermostat. Here’s what you should know about smart thermostats if you’re thinking of installing one in your rental.
How smart thermostats lower costs
One major reason why people are starting to use smart thermostats is because of the way that they lower heating and cooling costs. With a focus on being more eco-friendly and offering customizable tools for energy efficiency, many smart thermostats on the market today are empowering homeowners to take a more thoughtful look at how they program the temperature in their residence.
According to Nest, one of the biggest manufacturers of smart thermostats, your thermostat accounts for almost half of your home’s energy use. That means that focusing on your thermostat is the key to reducing your energy footprint and, by extension, your electric bill.
By learning from your heating and cooling preferences, smart thermostats don’t even need to be programmed. They simply adjust to you and save energy without any continued effort.
Benefits of smart thermostats for landlords
Especially for landlords with multiple units in the same building, it can be incredibly advantageous to install a smart thermostat. Some cities even mandate the coldest temperature that an apartment can be during winter months, so being able to offset those costs with a truly energy efficient thermostat during less frigid months is a large benefit.
Plus, smart thermostats often allow you to control and monitor your smart thermostat using a smartphone app. So you’ll always have a good indicator when it comes to how much you can expect to spend each month on your property’s heating and cooling.
The only thing you’ll have to worry about when it comes to getting a clearer picture of your tenants’ energy use is finding an iPhone screen repair service if your screen gets cracked.
Benefits of smart thermostats for tenants
Having a smart thermostat is also a major perk for tenants who may be looking to rent from you, too. Just like you would advertise central heating and air on your rental application, you’ll also want to share that your property has a smart thermostat to help manage its heating and cooling.
This feature alone can help set you apart from other landlords, especially with budget-conscious and environmentally minded tenants. It illustrates that you’re committed to investing in your properties as spaces that combine the best of form and function in home living.
At a time when many cities still feature unreliable radiator heat as the standard for heating, going the extra mile and getting true HVAC installed with a smart thermostat can potentially fill your rental much faster. That’s because tenants appreciate knowing they have a device that’s not only designed to improve their energy use, but is also created with their comfort in mind.
While many landlords look to the kitchen and bathroom fixtures when it comes to upgrading an apartment building or home to appeal to tenants, it may also be worth investigating other ways to appeal to potential tenants. A smart thermostat has broad appeal and also allows you to save money as a landlord, making it a win-win for all parties.