Did you know that the name Airbnb originated when an air mattress manufacturer listed his property for rent online and titled it airbed and breakfast? Did you know that Airbnb now lists about 2.5 million properties on its sites? With so much competition, everyone is looking for ways to get top dollar for short term rentals, and we have come up with five ways that smart home technology can help you get higher short-term rental rates.
It’s fine if you want to personally meet all guests that have paid to stay in your short-term rental property, but you shouldn’t require them to carry keys to get in and out of the unit. If you have a smart keyless entryway system, all you need to do is securely provide renters with a code that will allow them access to your short-term rental. When the renters leave, you merely change the code. You can also create multiple codes that can be exclusively used by repair techs and other vendors. Your guests will really enjoy not having to carry a key to access your property.
First, if you’re a first-time owner, we hope you have made the switch to LED lighting and follow similar eco-friendly tips like these. Incandescent and fluorescent bulbs and fixtures are rapidly becoming outmoded, and LEDs provide a great long-lasting and cheaper alternative. If you pair these lights with a smart app and make it available to your short-term renters, they will be able to control light hues and intensities from their mobile devices.
On a recent July trip to Italy, friends of ours entered their short-term rental unit and found that it was very warm. They turned on all of the AC units and that promptly tripped the main circuit breaker and left the unit without power. It took a number of phone calls before the circuit breaker could be located. If the unit’s owner would have had a smart HVAC app, the temperature could have been controlled remotely before the renters arrived thereby avoiding an annoying situation.
We’ve come a long way from the days where you had to hire a home alarm company to install motion detectors in your apartment that would allow the security vendor to be notified if someone tried to break in. Short term rental tenants will be pleased to know that your apartment has the latest cameras and security features paired with a smart app so that any suspicious activity could be monitored by you.
Finally, everyone wants to breathe the highest quality air possible, and they also want to be notified if indoor conditions are unsafe due to a buildup of carbon monoxide gas. This colorless and odorless gas is a byproduct of combustion, and an old failing furnace can release the gas into living areas. Smart carbon monoxide detectors will provide guests with a nice sense of security.
With over 2.5 million short term rental properties on the market, from expensive cities like Chicago as shown on Abodo, to more affordable cities all across the world, make sure that your unit has the latest smart apps so that you can get top rates every time your rent.
Programmable thermostats have been around for a long, long time, but another new, innovative product in recent years has been the smart smoke detector. This product will not only save you money and put your mind at ease, but it will be an attractive product for short-term renters. Most people avoid changing smoke detector batteries because it’s a difficult and annoying task, so instead, install a smart smoke detector to make your home safer and more valuable.
While the interior of your home can provide great value for short-term renters, as this is where they’ll spend most of their time, the exterior — your lawn in particular — can provide a big boost in value for your short-term rental. If you live in a climate where you regularly need to water your lawn during the summer months, a smart sprinkler system can save you a lot of hassle as well as money. These devices, which can be set up via computer or smartphone app, will automatically adjust your sprinkler system to account for the season and the weather. This way, no matter when you have a renter in your place, your lawn is going to look awesome!
Smart Home Hub
Smart home “hubs” are the key to it all. You might be wondering what a “hub” actually is, so let’s explain. From Google Home to Amazon Echo, these products can let you control other smart home devices with your voice, which makes things very easy for any short-term renter.
All of these services, depending on your personal desires and needs, will work great for both you and your short-term renter. The process is simple. You will let your renter know that you have smart tech and voice-enabled hubs at home, and they’ll be thrilled that they’ll be able to manage the entire home as soon as they arrive with just the click of a few buttons and voice prompts.
2020 and Beyond
We’ve proven that smart home technology can provide an immediate boost in value for your short-term rental. It’s a slam dunk. But what should we be aware of moving forward into the New Year and beyond 2023?
Pet-lovers will begin to enter the smart home technology market. Devices like automated feeders will help pet owners keep an eye on their pets and get them fed regardless of where they’re located. This can be helpful when you have a short-term renter or a pet-sitter. The other huge innovation will continue to be smart home entertainment systems. We live in a world where you can sit down on your couch and control everything with one remote or even just your voice. This will continue to evolve. Convenience is the key for renters, both long- and short-term, and companies will continue to innovate in these areas.