As a landlord, you can act prudently by investing in smart building technology, as the latest scientific methods included in it can enable you to manage your property well and also extend some benefits to your tenants.
According to the latest market survey report published by Valuates Reports, the demand for toilet flushing components is rising globally. The report entitled Smart Toilets Market Size says:The global market for smart toilets is expected to touch US$ 5611.4 million by 2030 with a CAGR of 6.4% during the forecast period 2024-2030.
As a property owner or landlord, you can save on maintenance costs and avoid the bother of frequent repairs if you move to smart building technology from the traditional one.
For your help, here are the key benefits of smart building technology described below.
7 reasons why you should invest in smart building technology:
Greater Tenant Satisfaction: A residential premises having in-built smart technology can provide larger tenant satisfaction. The tenant’s user experience of electrical installations and toilet fittings will be far greater as compared to a residential flat, which lacks smart technology. Smart door locking systems, CCTV cameras for monitoring the movement of humans or animals, smart bathroom fittings, thermostats, and other in-built gadgets can be extremely beneficial to tenants.
Greater Resale Value of Property: This is another major benefit for you as a landlord. If you are selling your property, you can ask for a higher price if your premises are built along the lines of smart technology. The person buying your property would not need to invest anything in installing the smart technology in the property. It is just ready-to-move premises.
Hassle-Free Management of the Property: As a landlord, you may encounter a large number of problems if your concrete structure is not built on modern lines equipped with smart technology. Smart technology introduced in properties doesn’t need frequent repair; power bills also come on a lower scale, and tenants also have very little to complain about their premises.
Real-Time Alert on Water Leakage: Water leakage, especially during the rainy season, is a common problem faced by both the property owner and the tenants. If you have built your residential flat along the smart technological lines, you get the benefit of a smart water leakage detector that you have incorporated into the concrete structure. As a result, much before the water drops become a major problem, you mend it well in advance without being complained about by the tenants.
Regime of Security Incorporated: The modern homes are made technologically secure with the help of CCTV, motion detection, video surveillance, and access control. As a landowner, you can fully secure your residential flats against unauthorized intrusions, burglary, theft, and animal trespassing by going for new technology. The incorporation of such features as remote control and remote access further safeguards residential flats.
Greater Demand by Tenants: If your residential flats for rent are located in a smart building, it will command greater attraction by tenants and also higher rent. A tenant may not also vacate such living premises having all in-built modern facilities. If a tenant vacates your premises and you are giving a to-let advertisement mentioning that it has all the modern technologies incorporated in the premises, you can get an immediate response for rent. This can be a great benefit to a landowner.
Higher ROI on Property: Your return on investment, or ROI, will be far greater if you have incorporated smart technology into your property. This is because you don’t need to incur expenses on repairing the premises frequently, as smart buildings don’t usually suffer damage in a short period. Additional greater ROI comes from higher rent that you charge and also higher resale money while disposing of your property.
The upward-moving curve of investment in smart building technology, including toilet shutoff valve by the owners of premises, flats, and residential facilities, arises out of the reason that the inclusion of smart technology not only enhances the longevity of the concrete structures but also requires less maintenance.
Conclusion
Becoming a landlord may appear to be quite alluring, but managing the property as a landlord is not easy. If the building lacks modern technology, it may not be able to provide a large number of in-built facilities to the tenants that the smart-technology-based properties do. On the other hand, you can manage your property well by incorporating smart technology into your premises.
