Smart home technology promises improved efficiency, enhanced security, and higher rents. But does the investment actually pay off for rental property owners?
High-ROI Smart Devices
Smart thermostats ($150-$250) reduce utility costs 10-23% annually. Smart locks ($150-$300) eliminate lock changes between tenants. Smart water leak detectors ($50-$100) prevent catastrophic damage.
Calculating Your ROI
A $1,000 investment in smart technology that saves $30 monthly in utilities and enables $50 higher rent generates 96% annual ROI. Payback typically occurs within 12-18 months.