IoT for Landlords: How Property Owners Benefit from Smart Homes
What pops up in your head when you hear “smart homes” and “automated houses”? Many would think of lamps that switch on and off when we approach them, and of running water that switches on and off when we move our hands under the tap. These obvious and pleasant everyday conveniences also reduce our electricity, power, and water bills.
What pops up in your head when you hear “smart homes” and “automated houses”? Many would think of lamps that switch on and off when we approach them, and of running water that switches on and off when we move our hands under the tap. These obvious and pleasant everyday conveniences also reduce our electricity, power, and water bills. For this and much more else businesses and individuals have to be grateful to the companies that offer the IoT technology (Internet of Things), in essence, smart or automated housing solutions that first became popular in 2010.
How does smart housing solution work in our home? It is a network of internet-connected systems: buildings (doors, windows), home appliances (boilers, running water), vehicles, actually any systems that you connect. You can control smart housing kits remotely via laptop or smartphone, doing it from a central hub. IoT devices of smart housing solutions are equipped with sensors and processors that collect data from these sensors via Machine Learning. That means that they are able to detect preferences that you have and adjust the smart home system to them.
LET’S DISCUSS YOUR IDEAS
At their best, landlords can maintain and control their entire in-house system:
IoT for property management saves a lot of fuss for rental house companies and allow you to:
Control your property remotely – switch on and off systems when it is rented or not
Monitor your property’s condition – all systems, and mold
Analyze property issues – Boiler malfunction, state of gas and water pipelines
Schedule fixes – if the due date of the spare parts replacement is close
Remotely test property performance
Enable tenants to resource save
Reduce the risk of incidents
Though, some can regard the following as disadvantages of IoT property management:
Professional installation expenses
Stable internet connection
Compatibility among devices
Voltage in your premises
Helplessness when the entire system fails
For rental house companies, Covid pivot, enacted by automated or smart housing, can save current tenants and lure the new more expensive ones. Time for profligate wastage seems to be over and both tenants and landlords are eager to save resources.
Let’s take a closer glance at how you can control, for example, the temperature at your property. Landlords can get remote control over their home’s heating, ventilation, and air conditioning via a smart thermostat on their laptop or smartphone. In this way, they can be absolutely sure of the working condition of these systems. Also, they can switch them off when the apartment or house is no longer rented. Although, smart meters allow to see the consumption readings and are able to send them to your utility company on your request.
An advantage of offering a smart thermostat to your tenants is that it will learn their preferences and adjust heating and cooling when they are at home and switch them off when they are not. They can program and plan spending on smart housing and thus save on their bills.
However, smart thermostats can be of no use if a number of tenants live at your premise and constantly change preferences during the day. This will frustrate the smart housing system.
If you decided to have a smart thermostat installed in your house, you should know that to operate well, it needs low voltage 24v HVAC in your house and a C-wire. If you don’t have low voltage you will need electrical adjustment. Most smart thermostats need a C wire as they apply touch screens to show temperature and air condition as well as need regular power input.
You can consider:
Nest Thermostat E
Tado Smart Thermostat
Nest Learning Thermostat
Installing a smart thermostat will costyou $250 – $350. In addition, you will be asked to pay about $85 for installation and adjustment, or $40-$100/hour.
With IoT for housing, the price of your property will rise targeting tech savvies who are looking for security and higher-class property for renting.
Also, keeping current clients satisfied in the pandemic time requires ingenuity. The obvious benefits of smart housing for landlords as we mentioned are:
full control of the house systems, including maintenance notification and remote switch on/off,
comfortable living for tenants,
lower bills for tenants.
In its simplest and most obvious guise, running a property that can communicate also offers a lot of benefits to the house maintenance teams.
Some tenants feel lonely at their homes and seek to often interact with service teams, mostly without any need- Without digital measurement tools, maintenance teams have to contact these tenants on the daily or weekly basis that negatively affects the work process.
No access to residents – Sometimes tenants are not at home and there is no access to read their data that. IoT sensors can transmit real-time to landlords without manual efforts.
Remotely solving house-related issues of residents – With the Augmented Reality applications, rental companies can remotely assist residents who have smart housing systems in maintaining their house-related issues.
Cut-off tenants can feel secure – In case, a resident has no contact with the landlord, they can feel protected with the IoT systems for housing that transmit information of the house systems to the landlord on the regular basis. For example, if the heating system of a vulnerable resident is out of use, the landlord will be notified immediately.
Smart Housing for Incident Prevention
It goes without saying that safety from emergencies is a hidden number 1 benefit of smart housing – water floods, gas leaks, and break-ins. Many property owners and tenants are not inclined to think of it while secretly hoping it won’t happen to them. But everything can happen, as the number 1 Christmas sequel Home Alone shows it, and, of course, we hope for the better. Still, a considerable volume of operating expenses while running a property comes from emergencies and incidents such as water floods in houses.
Apart from obvious inconveniences as stress, strain for your loved ones, and ruining of expensive equipment, it requires time and finance for water waste, water removal, and mold remedy. But in case, you have smart housing tech installed, the smart system will automatically block the water pipes to stop the leak. Moreover, it will notify you long beforehand of an emerging issue. So, if there is a gas leak in the gas pipeline, the smart home system will save both the lives and the property.
You can find many “full-house” smart disaster prevention solutions for your home as Apple HomePod, Alexa, and Echo. Or you can choose a one-issue smart remedy as, for instance , Automist Smartscan for in-time fire extinguishing. Moreover, with the Nimb, a wearable ring, you can call emergency services secretly and much faster than when you have to rush to find your phone.
In the situation when we stay at our homes most of the day, have financial instability, whereas some people have to move out from unsafe zones, smart housing is what helps both- the luxury segment to ease the tension and “business class” to cut expenses. Everyone deserves to have a convenient, affordable, and safe place to live. There are many ways to spruce it up and smart housing is one of them.
You will see smart housing solutions in the evening when you are approaching your house and the lights turn on showing you the path. You will feel comfortably warm and deeply inhale when you enter your home. In the bathroom, you will fold your hands and wash them clean as water will start running. Thereafter, lights will turn on in the living room as you are plunging in your couch.
For residents, smart housing solutions bring a much better living
releasing your mind and making hands free
cutting your housing bills
making you forget about house-related emergencies.
Though, Amy Myers New York Times bestselling author and MD warns her readers saying that smart meters, for instance, can be not save for your health because of the radiation of the radio frequency (RF) waves that smart meters send every 15 minutes to the utility company. She says:
RF radiation was classified in 2011 by the International Agency for Research on Cancer (IARC), as “possibly carcinogenic (cancer-causing) to humans.”
How Smart Housing Saves your Money
A smart meter is an electronic device that reads the consumption of electric energy, voltage, and power, showing residents their consumption habits. When you are aware of how much electricity or water you consume daily or monthly, you can install smart meters that will allow you to easily adjust your habits if you want and save resources. Of course, cutting consumption with smart thermostat is much more effective as the mere knowledge of smart metering information can hardly dramatically change your consumption habits.
Smart metering for landlords means an easy way to in-time inform utility companies (every 15 minutes) with readings of measuring devices in their property while preserving compliance.
For a property manager, retaining tenants is just as important as attracting them. IoT for property management is an effective tool to eliminate expenses, to attract new tenants, to execute leases as well as spending expenses for the house maintenance staff.
Many international companies are already taking advantage of the IoT technology for housing and smart metering, for example:
Installing an IoT smart housing system is a decision, which has to be thoroughly considered, examining the advantages and disadvantages that we have already mentioned. But if you decide to install a smart housing system in your house, you can choose the price that you want to pay to install it.