If you could present an apartment to potential residents like the place Alex Hitchens lives in the movie Hitch, how cool would that be? (And this movie came out eleven years ago!) An apartment with automation systems that control lighting and music and sound, and likely temperature and security - that would definitely come off as high-tech and fancy. You can just imagine the ‘ooh’s and ‘ahh’s and wide-eyed wonderment of potential residents.
How practical is it to include these features in your apartments? Pros - Smart home technology would be another way to streamline how you manage your properties, would give you more control without having to be on the premise, and it could help draw in new residents.
Or not. The grass is always greener on the other side, and greener grass has its pros and cons. Just how wonderful is smart home tech?
Thermostats - Pros - Allows you to control temperature of home whether you’re there or not, and learns your preferences over time. They can help save money over the long run. Cons - Initial cost is higher than traditional thermostats. Not compatible with all HVAC systems and may need a professional to install.
Locking Systems - Pros - You can either lock or unlock with a device such as a smartphone, or set in codes. Some systems even unlock as you approach the door because it can sense the device in your pocket. Can set it up for other users as well. Cons - Potential problems during power outages. Hackable.
Lighting - Pros - You can set light timers, utilize dimming features, and use it as security for motion-sense or have lights turn on while on vacation. Cons - Older homes may require electrical updates before smart lighting can be installed.
Moisture Sensor - Pros - Alert you when there are leaks or when humidity and temperature changes. Useful for units like basement apartments that are more prone to mold growth. Cons - Price.
Smoke and CO2 Detectors - Pros - Like conventional smoke and CO2 detectors notify you of fire or CO2 poisoning. Through smart system alarm is easily turned off. Cons - Price.
Sprinkler Control - Pros - You can set times to water and the system automatically adjusts for the season and weather. Some systems include sensors that measure moisture in soil. Can save water and money. Cons - High up-front cost and since it is electronic with so many parts, there is high potential for problems so may need fixed more often.
Security - Pros - You can choose what you monitor and how and with a smartphone it is easy to arm and disarm the system. There are several options to choose from, such as motion detectors, video surveillance, and glass break surveillance. Cons - The cameras can pick up interference from other wireless devices which can set off false alarms. Smart security systems are also vulnerable to security breaches and hacks.
There are other cons to consider before updating your apartments with smart home technology. Present stats don’t indicate that smart home features give more value in a turnaround for home sales, so may be the same for unit leases as well. Technology is always changing and improving, so current features will become outdated within just a few years, and the initial cost of these products isn’t cheap compared to their traditional counterparts. You should also consider how easy it would be to switch the user from an old resident to a new one.
There you go - your smart home pros and cons. Weigh your options and decide what would work best for you.
