IoT Enhances the Tenant and Landlord Experience
IoT is the acronym commonly used to refer to the Internet of Things, which broadly comprises anything that’s connected to the Internet. However, the modern definition of IoT also refers to devices capable of communicating with each other. In the context of rental property, this refers to technology such as smart locks and other smart amenities that enhance the rental and living experience.
Today, nearly early every conceivable building system, including heating, cooling, lighting, and security, can be connected to the internet for remote management and automation, making today’s multifamily buildings more efficient to run and manage and more comfortable for residents. Smart thermostats allow residents to control the temperature no matter where they are provided there is an Internet connection while smart locks are slowly overtaking the needs for keys as residents can enter and exit their residence at the touch of a button or even allow someone such as a delivery person to enter their home and leave a package.
IoT helps residents as much as it does landlords. These smart devices add tremendous convenience for residents and may improve their quality of life while landlords also benefit. Reduced costs in cooling, quicker response to maintenance requests, easier changing of locks when a tenant moves out, having an AI know when a tenant is overdue on rent, all of these can be facilitated with IoT technology.
This update is by Livo, a rental optimization platform aimed at providing you with a robust revenue enhancement tool. With Livo, you can maximize rental yields, accept and manage multiple offers and offers, and enjoy better retention. Livo targets rentals with the greatest odds of receiving a multitude of offers, and those with the best locations, features, configurations, and more. Please call 833.333.5486 today to learn more.