# The Beginner’s Guide to Using Smart Technology to Improve Your Rental Properties
Managing rental properties is a lucrative way to earn residual income. By purchasing and renting out properties, investors have a way to earn money while they sleep. However, there are a lot of moving parts involved in managing rental properties efficiently. From managing time to keeping as much money in the bank as possible, investors must be smart and savvy to succeed in the rental property market. One great way to make your job easier is to use smart technology to improve your rental properties. By using these smart devices and apps, investors can free up their time to do more of what they like and spend less time managing their properties.
## Securing Packages with Electronic Parcel Lockers
If you’ve ever lived in an apartment or multi-family rental unit, you know the stress of receiving packages. Either you risk the packages getting stolen by people walking by, or you have to schedule time to go to the Post Office, UPS, or FedEx location. However, electronic parcel lockers can solve this problem. With this technology, investors can offer a better experience for their renters. Instead of being delivered directly to the door, a centralized location can securely host the package lockers. Once the resident’s package is delivered, they will receive notification and can retrieve their things from the locker. This differentiates from traditional systems that depend on keys and manual input. It’s also an excellent way to offer contactless delivery, especially for those who want it.
## Making Rent Payment Easier with Online Bill Payment
Writing a check is tedious, especially if you have many rental units. To make it easier for both investors and renters, online bill payment is the way to go. While using a system will take a fee, it guarantees a more enjoyable renter experience, making them happier for longer. Additionally, investors can offer autopay options and even offer a tiny discount for those renters who set up and use online bill pay. It’s one easy piece of technology to improve your rental properties.
## Ensure Safety with Video Surveillance and Keyless Entry
Safety is essential when managing rental properties. Offering video surveillance in public spaces can deter criminals and provide corroboration for any disputes and fights that happen in public spaces. It’s important to disclose the use of video surveillance to renters before they move in to ensure full transparency.
Investors can also install keyless entry options, using technology such as card swiping or biometrics. Keyless entry not only makes it easier for renters to access their rental units, but it can also improve safety and security as well. Residents won’t have to worry if they lose their keys or leaving them in the door overnight, as they can gain access using a personalized code on their phone.
## Smart Devices for Climate and Motion
Using smart thermostats gives users full control over their utilities. With multiple options to set manually, residents can also adjust them remotely. Residents can save 10 – 30% a year on heating and cooling costs by using smart thermostats. The apps that come with these devices are easy to use, providing a simple way to make changes. Additionally, they track the weather, providing notifications if a storm is forthcoming.
For smart climate sensors, investors can install fire alarms, CO2 monitors, and other sensors to ensure the safety of their renters. Smart sensors can monitor water leaks and freezing, preventing major damage to properties before it happens. Advanced sensors provide additional information, including frequency and levels. Investors can view this information through the app, giving complete control from just one place.
Motion lights provide an extra layer of safety, particularly for those who rent out houses. People can go outside in the dark and not have to worry if there is anyone or anything trying to sneak up on them. These simple yet useful devices also reduce the cost of insurance, protecting renters from injuries that happen in poorly lit environments. Motion lights can also be timed and controlled through apps and smart devices.
## Boost Your Rental Properties with Smart Technology
Incorporating technology into rental properties can benefit investors in many ways. It can reduce insurance costs, improve time management, and create a safer place for tenants. By offering these premium smart technology devices, investors can help create excited, happy tenants who long-term rent with them. This improves renter experience and can boost rental rates. With the right devices, investors can make it easier for tenants to get packages, get into their homes, stay safe at night, and monitor their environment. Investors can use smart technology to differentiate from competitors, providing the best rental experience for renters.