Smart Home Upgrades vs. The Basics
Category: Property Management
6 replies
Original post
Is anyone actually seeing a high ROI on "smart home" upgrades, or is it better to stick to the basics like fresh paint and durable flooring?
Reply by Tommy Parker
What would be considered a "smart home" upgrade for you? It depends what's needed.
Reply by Mose Gebremeskel
I'm with Tommy. Some markets really need the basics provided. If you're in a Section 8 neighborhood, you don't need all the new tech. Durable flooring, clean space, and fresh paint really go a long way.
Reply by Connie
Replacing old carpeting and a fresh coat of paint works wonders on a unit. What smart home upgrades did you have in mind?
Reply by Mary Ragano
^ Agreed - we've been able to increase cash flow on units just with fresh coats of paint on the walls, clean up in common spaces, etc. Just the basic things that can make a rental feel more upscaled.
Reply by Marc St.James
If it's a house, fresh paint and taking care of the landscaping. Curb appeal is always important!
Reply by Clifton Spann
We have furnished rentals...but I think it would be good for unfurnished as well. We put Ecobee3 smart thermostats in all our units. This lets us know when there is a possible problem with the HVAC system, if the condo it too humid, if the auxillary heat has been running too long, etc. Of course we provide the wifi for it to run on as well...but one could put it in the lease that the thermostat must be allowed to connect to their wifi.