When you imagine the next generation of renters, what image comes to mind? As evidenced by the recent surge in demand for rental homes, individuals below 40 are the next big group of renters to hit the market, and they have requirements and desires that are significantly complex from those of prior generations. As a property owner in Buda, it’s important to stay aggressive in the single-family rental home market by examining what these young adults need in a rental home and making the upgrades that will bring your rental homes into the current decade.
Together with the increase of handheld smart technologies, smart homes are growing more usual. Many young renters have lived in their family homes with certain smart technologies like smart thermostats and lighting. With these technologies, adjusting a thermostat and turning on and off lighting can be done with just a few clicks. These technologies are not just fancy 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 bonuses they might offer you as a rental property owner.
Upgrading to a Smart Thermostat
You may question what makes a thermostat “smart”? Smart thermostats are technically programmable thermostats that learn from your behaviors and adjust themselves accordingly. They are all the rave these days, they track energy consumption in real time, adjust automatically if no one is home, and control the home’s interior climate remotely, so you do not need to worry when you want to check your home. The thing is though, and smart thermostats can be a bit expensive. However, it can save residents hundreds of dollars each year on energy costs and ensure a customized, comfortable climate at all times. So, if you factor in the time, effort and power expenses saved, they more than make up for the cost 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, 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 safety, convenience, and efficiency of smart technologies is a strong draw. Rental property owners with these features may find great success in attracting the under-40 crowd by upgrading to one or more smart features. For more information, please contact us online or call our Austin office at 512-520-9060 or our Dallas office at 972-949-2000.
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