The amenities and features potential tenants look for in residential properties can change as new innovations become available. For example, various recent technological developments have impacted the way renters choose new homes.
You should be aware of these changes if you’re a landlord or property manager. To make your properties more attractive to new tenants, consider including or highlighting these tech-based features:
Smart Technology and Internet of Things Technology
“Smart” devices and Internet of Things technology are two terms that are often used interchangeably. This is because they frequently both refer to devices that aren’t traditionally associated with the Internet, but nevertheless rely on a connection to the Internet to offer improved functionality to customers and users.
For example, it’s becoming increasingly common for homes to feature smart thermostats. These are thermostats that can be monitored and adjusted remotely via a mobile app.
That’s just one example. Generally, surveys indicate that renters are more likely to find a property appealing if it features such basic amenities.
Online Payment Options
Don’t underestimate the degree to which offering certain basic conveniences can substantially improve a property’s chances of attracting new tenants. For example, in the digital age, it’s become very important to renters to have the option of paying rent online.
This reflects general tech trends that have impacted numerous industries. In the financial industry, the rise of fintech has resulted in more and more customers seeking online banking options. The convenience these services provide has resulted in customers seeking similar user-friendly services in other areas of their lives.
On the one hand, new technologies have made various aspects of daily life more convenient for people. On the other hand, being constantly connected to our devices has resulted in many feeling like they are busier than ever. Many feel this way even if they actually have more potential free time on their hands than they realize.
You need to account for this fact when deciding how to market your properties. Remember, tech can be used to boost a property’s appeal even when that tech isn’t installed in said property directly. For instance, you should prioritize developing and posting strong online advertisements for your properties instead of marketing them through traditional channels.
Why? Because many people now feel as though they no longer have the time to visit properties in-person unless they are quite confident that doing so will be a valuable use of the limited free time they have. Thus, you need to ensure your properties look their best in online ads. You also need to be confident your ads feature enough information and relevant details to let a potential tenant know that they should pay it a visit. This may seem like a basic point, but because surveys consistently reveal that today’s renters want to learn as much about a property as they can online, it’s a point that earns a spot on this list.
Reliable high-speed Internet access isn’t a luxury anymore. Some would argue it hasn’t been for quite some time now.
The Internet plays a vital role in both the personal and professional lives of the vast majority of renters these days. With that in mind, you should ensure that your properties have the infrastructure in place necessary to facilitate Internet access. This is particularly important now that remote work is quite common.
Of course, none of this overrides the basic best practices of marketing and managing properties. You still need to ensure you highlight such factors as the local services and attractions a property offers access to. Just be aware that finding renters will be much easier if you highlight these technological amenities as well.