Smart Apartments Are Finally Profitable

February 11, 2025

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Presented by SmartRent

From preventing costly water damage to giving residents the peace of mind they want, smart apartment features are changing the game. Learn which tech solutions deliver the biggest impact for your community and residents.

Focus on Multifamily

Smart home technology is now a key feature in modern living, extending to rental properties. While renters have long wanted smart devices, landlords were slow to adopt them, assuming renters would install their own. But that’s changing as property owners see the financial benefits. Smart locks enable self-guided tours and keyless entry, making leasing easier and justifying higher rents. Renters are willing to pay more for these conveniences, making smart apartments more competitive.

Beyond leasing, smart devices help cut costs and support sustainability. Smart thermostats reduce energy bills for renters and help landlords meet energy regulations. Community Wi-Fi offers value by lowering renters' expenses while creating a new revenue stream. These features also improve maintenance, allowing renters to submit service requests digitally, while predictive maintenance tools help prevent expensive repairs and reduce downtime.

Smart technology boosts profits and tenant retention. Data-driven management helps landlords set better rental prices, reduce vacancies, and cut costs. Enhanced security makes buildings safer, keeping tenants happy and lowering liability. As smart apartments become the norm, early adopters gain a competitive edge. Investing in smart tech isn’t just a trend—it’s a strategy that increases revenue, reduces expenses, and ensures long-term success.

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Propmodo Daily is written and edited by Franco Faraudo with contributions from readers like you and the Propmodo team.

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