As property managers we are always asked for advice and guidance by investors. They are constantly researching and finding ways to do things better, which is great. It also ensures that we remain up to date with all of the industry trends and technology available to investors.
One question we are asked on a regular basis is about the merits of smart thermostats. They have become a popular item that has been installed in both rental properties as well as individuals homes. Smart thermostats allow homeowners and investors to control their HVAC systems remotely via a smartphone or, of course, locally via a user-friendly screen.
In fact, some of them even adjust temperatures automatically based on occupancy or learned preferences. They also provide more information than ever before as they track and analyze heating and cooling habits and record energy usage.
The latest smart thermostats have even more features than their older counterparts, so there’s more to consider when setting one up. For instance, installation involves extra power requirements and establishing wireless communication with other smart devices.
Here are just a few of the benefits:
1. Smart thermostats offer a variety of advanced climate controls.
When describing smart thermostats this mainly refers to their ability to connect to other WIFI-powered devices, but these products are also often smartly designed, tailored for seamless, intuitive operation. Some smart thermostats sense when a room is occupied, then tweak the temperature to suit. Others know when you’re on your way home from work—using a GPS-based feature called “geofencing”—and adjust the temperature so your house is comfortable upon your arrival. There is also the 3rd Generation Nest Learning Thermostat Pro, which combines room sensors with your smartphone’s location and your input temperature preferences in the first week to begin automatically adjusting the temperature in your home. You won’t have to make any other adjustments, unless, of course, you need to change the schedule for vacations.
2. Installing a smart thermostat is a first step toward saving money on heating and cooling.
While smart thermostats are undeniably convenient. One of their biggest benefits is their ability to conserve energy. Smart thermostats can save money on energy costs in two ways: the ability to monitor and control temperature remotely and the function to learn user behavior and adjust settings accordingly. Each of these capabilities helps ensure that your HVAC system won’t be running unnecessarily when no one is around to appreciate the comfort. In fact, when installed and used correctly, a smart thermostat can save as much as 25 percent on utility bills.
3. A Wi-Fi connection is required.
Homeowners will always need a Wi-Fi network to take advantage of all of the benefits of a smart thermostat. Only Wi-Fi can enable connections to smartphones and other smart-home devices. In order to access any of the benefits of the built-in Amazon Alexa Voice Service or Google Smart Home like setting the temperature, starting a music playlist, or adding an item to a shopping list—you have to have a Wi-Fi network in your house.
4. A mobile app is necessary for smartphone control.
Home installation isn’t the only part of the process; a new smart thermostat requires installation on a smartphone, tablet, or laptop as well. Every smart thermostat pairs with a free-to-download mobile app from the same manufacturer that provides remote access. The ability to control smart thermostats through a mobile app is perhaps their best feature. The app can be used to keep an eye on your rental property or your own personal home.
By investing in smart products such as a smart thermostat you are making an investment into your rental property and helping not only you but your residents in cost savings. Welcome Home highly recommends this type of technology wherever possible.