Smart technology has become an integral part of our daily lives. From phones to cars to TVs, almost every facet of daily life has been upgraded to provide maximum convenience, security, and flexibility. Our homes are no exception. Approximately 45% of homeowners are expected to purchase smart home technology at some point in their life. Millennials are especially keen when it comes to these tools, with three out of four willing to invest between $1,500 and $4,000 to upgrade their homes. According to the National Association of Realtors (NAR), millennials make up the largest share of home buyers, at 37%, indicating smart home technology has never been more essential (and will only grow in popularity as time passes).
Smart locks are one type of smart home technology that streamline the entrance and exit process for any home. Instead of fumbling with keys, all you’ll have to do to enter your home is press a button on your phone or even use your voice to activate the lock. This technology perfectly combines the traditional lock design with electronic components. Smart locks aren’t just convenient for your average homeowner. They are a game changer for property managers and landlords and can even increase the value of a listing!
Let’s take a look at the top 5 benefits of installing a smart lock on your properties…
1. Make Your Life Easier as a Property Manager
Every property manager or landlord knows that the most tedious part of the job is the confusion that comes with changing locks. You know the burden of constantly visiting the locksmith to get keys made for your new tenants. Instead of organizing thousands of keys and frequently changing the locks on all your units, install smart locks! Smart locks allow you to effortlessly manage who has access to which apartment units and gives you direct oversight on all the comings and goings in your buildings.
When the time comes for a new tenant to fill an empty unit, all you’ll have to do is enter the information of your new tenants, and just like that, they’ll be able to access their new home. This streamlines the transition between tenants, a stressful time for the average landlord. It also simplifies the touring process. If you have prospective tenants visiting but can’t be there to let them in, you can grant temporary access to them and even monitor their comings and goings. This process can be repeated for any utility workers or repairmen who are stopping by to make repairs. As a property manager, having such direct oversight over your property is priceless. Smart locks are creating the apartments of the future.
2. Increase the Value of Your Property
Whether you’re selling a single-family home or renting out a single unit, smart locks are an excellent way to increase the value of your property. According to the Consumer Electronics Association and the National Association of Home Builders, the value of your home can increase by as much as 5% by simply installing smart home technology like smart locks. Many consumers are interested in owning this type of technology in their own home but haven’t made the investment themselves or are worried about confusing installations. There are lots of techniques that real estate agents use to increase the value of a home, like staging. Smart technology is another simple way to get the most bang out of your buck.
3. Rent Your Properties Faster
There’s a lot of interest in smart home technology, especially smart locks. Doing something as simple as installing a smart lock that you can access via cell phone can generate more buzz around your listings. If you’re struggling to rent your units, try installing smart locks! Home security is extremely important to tenants and homeowners (85% of those surveyed cited it as a major concern). By installing smart locks on your units, you’ll prove to your tenants you care about their security, and you’ll fill your properties faster.
4. Control the Space from Afar
From a property manager point-of-view, one of the biggest advantages that come with installing smart locks is the ability to control and monitor the space from afar. Many smart locks come with cameras that constantly photograph who is coming and going, allowing you to see exactly who is visiting your properties. Your residents will feel very safe and secure knowing that you have constant surveillance of the comings and goings of the building. This isn’t just limited to property managers. Some smart locks allow homeowners to also have this level of control. If you or any of your tenants forget to lock a door, you can do that remotely as well. This level of surveillance is essential for property managers and homeowners alike.
5. Automatically be Alerted to Suspicious Activity
Your smart locks will know if there’s been a breach in security before you do! Smart locks are typically difficult to hack because they contain excellent encryption to prevent anyone from being able to virtually unlock your property. If someone attempts to break into your home or apartment, the smart locks will record the time of the intrusion, take photographs of those attempting to get in, and notify you and the authorities immediately. This level of security is unparalleled. You’ll be able to know if there’s something happening right there in the moment and can best protect yourself and anyone who lives in your properties.
Smart locks are the future of technology. It’s solved many of the tedious problems that came with traditional locks. As younger generations enter the home buying market, they’ll gravitate towards homes and apartment buildings that integrate this type of technology and prioritize the immediate safety of tenants. Invest in smart technology today to prepare for the home buyer of tomorrow.
3DApartment is tech-oriented, forward-thinking, and offers technological solutions for the real estate industry. 3DApartment connects agents around the country, fostering business connections and relationships between like-minded professionals. Also offered are exclusive marketing packages, containing the most up-to-date marketing technology, which best advertises your listings in the digital age. Included are immersive virtual tours (created using 3D cameras), video teasers of the property, a 3D Flyer with a scannable QR code, and a landing webpage with all your contact information, helping future tenants easily contact you. With your talent and our technology, we’ll advertise your listings far and wide to help you sell your properties faster and more efficiently.
