With the infinite number of smart home products available – and the valuable advantages they bring – it’s tempting to buy a handful to put in your rental properties. But without proper planning and research, you could be wasting your money and time. In fact, many rental property owners make the mistake of buying products that don’t work as advertised, or they get in over their heads by purchasing devices they don’t know how to set up and install.
To prevent unnecessary hassles and cost when installing a smart home system in your rental property, consider these five common smart property mistakes and how to avoid them:
1) Having a Problematic Internet Connection
Every smart home device you install needs to hook up to the Wi-Fi network in your rental property. Therefore, it’s important that you don’t have any Wi-Fi “dead zones.” Also, because each device puts an additional load on the network, having a slow internet plan or the wrong kind of router could also prevent the smart home network from working properly.
Solution: Strengthen your internet network before you install the smart home system. Check with your internet service provider to ensure that you have a plan that can handle your smart home network. Buy a router designed to interface with Internet of Things (IoT) devices. Even if your router is just a few years old, it’s probably too old for your smart home system. Finally, check for internet dead zones and install Wi-Fi signal boosters where needed.
As a final note, you’ll also want to ensure that your IoT devices and home Wi-Fi system are absolutely secure against hackers.
2) Falling for Gimmicks Your Renters Don’t Want or Need
An apartment loaded with smart home technology will make your property more attractive to renters – especially millennials. But there are so many possible features, it’s important to understand which ones your renters actually want and need, and avoid the worthless gimmicks.
Solution: Read online reviews on every product you buy. More importantly, stick to the basics. The convenience offered by a smart home system that includes smart locks, a smart thermostat, a smart HVAC system and a smart burglar alarm system is usually what renters seek.
3) Choosing Mismatched Smart Home Devices
The smart home market is in its infancy, and the industry hasn’t settled on precise compatibility standards. As a result, many IoT devices function on incompatible systems. For example, it’s not uncommon for property owners to buy a set of smart locks that aren’t compatible with their smart hub.
Solution: Many smart home device manufacturers provide a complete range of products to satisfy all of your basic smart home needs. Stick with the same brand to avoid mismatched devices. Also, check with manufacturers about the compatibility of their products before making a purchase and research the inter-compatibility of smart home devices and systems.
4) Wasting Money on Cheap Products
There’s a wide range in quality when it comes to buying a smart home system and its individual components. The problem is, many rental property owners buy cheap solutions that don’t work—or break after a short time.
Solution: Change your mindset. Spending more on quality goes a long way in the world of smart property management. Indeed, a high-quality smart home system:
- Attracts renters
- Lets you charge a premium
- Protects the longevity of your HVAC system
- Makes it easier to manage your properties
Considering these benefits, a quality smart home system pays for itself many times over, so there’s no reason why you shouldn’t purchase the best equipment available. That’s why, at PointCentral, we partner with Alarm.com for many of our smart home components. Alarm’s stellar reputation for quality, durability and utility is one of our secrets to building the best smart home systems on the market.
5) Failing to Consult with a Professional
Sifting through smart home solutions can be overwhelming, and it’s easy to get confused about the direction your system should take. Moreover, smart home novices don’t know how to take full advantage of the best features of the equipment they buy. What’s the point in owning the best technology, if you’re not using its full capabilities?
Solution: Consult with professionals like those at PointCentral when setting up a smart home system for your properties. We work closely with property managers to develop cutting-edge smart home solutions for their specific situations. This helps our clients avoid common smart home mistakes and benefit from a customized solution to meet their needs.
Contact PointCentral for a Smart Home Consultation
The PointCentral team is available to discuss your smart home wishes and needs. Contact us now to learn how a smart home system will make it easier to manage your rental properties while increasing your bottom line. Whether you have a handful, or thousands, of rental units, our smart property management solutions scale up for any size operation.
