The next big group of renters is adults under 40. This particular group of individuals are poised to stir the single-family rental home market but will also bring challenging situations with them. To be more specific, they have wants and needs that are significantly different from those of previous generations. As a property owner in Harker Heights, it is important to be kept up to date on what is the latest upgrades that are being demanded on the market by considering what these young adults need in a rental home. Doing so will guarantee that your rental property has enough to offer in the very competitive industry of real estate.
Along with the proliferation of handheld smart technologies, smart homes have gained momentum in recent years and will most likely continue in the coming years. Many young renters have grown up with certain smart technologies in their rental homes, particularly smart thermostats and lighting. These technologies have made it possible to operate a thermostat or turn lights on or off with just a few clicks. These technologies are not only showy extras: smart technologies can significantly improve the performance of a rental home, as well as attract quality, long-term residents. Let’s take a closer look at smart thermostats and lighting, and what benefits they might offer you as a rental property owner.
Upgrading to a Smart Thermostat
What makes a thermostat “smart”? Smart thermostats are technically programmable thermostats that learn from your behaviors. They can collect information about your energy consumption in real time, adjust automatically if no one is home, and control the home’s interior climate remotely. They can learn your schedule and the temperatures you prefer through the changes you make to the settings. Then, they can adjust and adapt automatically if your lifestyle changes. Concerning cost, smart thermostats can save residents hundreds of dollars each year on energy costs and ensure a customized, comfortable climate at all times. While smart thermostats are a bit expensive, they more than makeup for the price in a relatively short amount of time.
Upgrading to Smart Lighting
Smart lighting, like smart thermostats, is a lighting system designed to save energy. High-efficiency fixtures and automated controls can adjust automatically based on how many people are in the home and how bright it is outside. Smart lighting can be programmed to fit your routine, controlled with an app, or otherwise customized to conserve energy and improve security. Among the smart technology upgrades, smart lighting is one of the easiest and least expensive options, which makes it a great place to start.
For the tech-savvy renters of today, the protection, availability, and performance of smart technologies is a strong draw. Rental property owners with these features may find great success in luring the under-40 crowd by upgrading to one or more smart features. For more information, please contact us online or call us at 254-732-1599.
If you’d like to do more research about renovating and upgrading your rental property, check out these blogs:
- The Do’s and Don’ts of Electrical Wiring Upgrades for Your Temple Rental Property
- The Pros and Cons of Belton Rental Property Upgrades
- Color Psychology: Making Your Temple Rental Property More Inviting
- Property Owners vs Residents: Who Benefits from Upgrades to Your Copperas Cove Rental Property?
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
