According to Landlordology, while “smart home” features are not a deciding factor for renters, they are definitely an appealing amenity and particularly draw millennials. Plus, they offer a lot of benefits and unique functions. If you are considering adding smart home devices to either your long-term or vacation rental, a good place to start is by considering the most desired features. The National Association of Realtors (NAR), polled clients about which device functions are most important to them. Here are their findings of the top eight most desired functions and the percentage who said they were important (and not important):
- Security Features: 51% said they were very important, and 3% said they were not important
- Privacy Features: 45% said they were very important, and 4% said they were not important
- Cost Saving Features: 44% said they were very important, and 4% said they were not important
- Energy Saving Features: 42% said they were very important, and 4% said they were not important
- Additional Comfort Features: 42% said they were very important, and 4% said they were not important
- Energy Monitoring Abilities: 22% said they were very important, and 6% said they were not important
- Water Management Abilities: 20% said they were very important, and 7% said they were not important
- Air Quality Monitoring Abilities: 19% said they were very important, and 7% said they were not important
Do you agree with their rankings? For more of the NAR's findings on smart homes, see their full report on Smart Homes & Realtors. For additional landlord resources, visit our Investor Resources Page.
Related: Smart Homes= Smart Sellers, 3 Great Smart Locks on Amazon
