How to Cut Costs and Boost Efficiency with IoT Device Management for Single Family Rentals

How do you manage your single family rental IoT devices?

Today’s renters expect the convenience of smart home devices. But, it’s not enough to have Internet of Things (IoT) devices (like smart locks or lights) in your single family rental property. You also need device management tech that maximizes convenience for tenants and cost and time savings for you. 

If you don’t have the right IoT device management technology, you’ll fall behind your competitors. How can you find the right IoT device management tech for your single family rental? That’s what we’ll cover in this post. Let’s start by taking a look at what IoT device management is.

What is Internet of Things (IoT) device management for single family for rent properties?

IoT device management tech allows you to set up, control smart, and collect data from smart devices. Some common IoT devices you might have at your single family rental property are smart locks, lights, thermostats, and security systems. 

IoT devices are different from standard locks, thermostats, or other devices because they connect to the internet. This internet connection allows you to manage your smart devices from your phone, tablet, or computer. Due to the internet connection, you can also manage IoT devices remotely (like setting a thermostat in a vacant property without having to be at that property). 

While IoT devices can connect to the internet, you need tech to take advantage of this connectivity. IoT device management technology acts as a middleman to connect all of your smart devices to your phone or computer. This technology can also help you collect data to optimize your single family rental property to increase revenue and cut costs. 

To see these benefits, it’s important to choose the right IoT device management tech. Many IoT management options are point solutions. With that tech, you can only manage devices, so you need additional technology to manage other aspects of your property. 

Instead of adding yet another point solution to your tech stack, you should choose a comprehensive property and device management solution. That way, you can manage every aspect of your devices and daily operations from one, easy-to-use platform. 

How does IoT device management work for single family rental properties?

IoT device management starts with choosing your IoT devices. Smart locks, thermostats, lights, and other IoT devices connect to each other and your phone/computer through different connectivity options (like Bluetooth and WiFi) and protocols (like Z-Wave and Zigbee). 

As such, you need to choose devices that are compatible with your device management platform. Some platforms only support limited protocols and connectivity. Instead of being limited by your platform, you should look for a device agnostic solution that works with most IoT devices. 

After you choose your IoT devices, you need to connect them. Each device management platform has different ways to connect your devices. So, you’ll just follow your platform’s instructions. Once you connect your devices, you can control lighting, temperature, door locks, and other functions from your computer or phone. 

As you and your tenants use your IoT devices, your device management platform will collect real-time data (like usage or device status data). You can then use this data to optimize your single family property, workflow, and tenant experience. 

What are the benefits of IoT device management for single family rentals?

Now that you know what IoT device management is and how it works, you’re probably wondering what benefits you could see from it. Here are the top benefits of IoT device management for your single family rental:

Increase efficiency 

One benefit of IoT device management tech for single family rentals is improved efficiency. Without IoT device management tech, you or your team have to manually check on devices, make sure they’re working properly, tend to vacant units, and more. These manual tasks are a time suck and reduce efficiency. 

With IoT device management software, you and your team no longer need to manually manage everything. Instead, your device management software automates tasks like setting thermostats, turning on/off lights, access control, and more. This can save you and your team hours every week – cutting costs and improving efficiency.

Charge more for rent

IoT device management for single family rentals can also help you increase your revenue. Smart home technology is an in-demand amenity. One survey found that 75% of renters are willing to pay more for smart amenities (like smart locks). Moreover, this study found that most renters are willing to pay at least $20 a month extra for top smart amenities. 

With IoT device management, you can provide the most sought-after smart amenities and charge more for rent – increasing your revenue without creating more work for you or your team. 

Increase energy efficiency 

Another benefit of IoT device management for single family for rent properties is increased energy efficiency. The right IoT device management platform can collect energy and utility usage data for you. This data will show you ways to optimize water and electricity usage to cut your utility expenses. 

So, you can set thermostats in vacant units at the right temperature, reduce light usage, maximize water usage, and more to cut your utility bills by thousands every year. 

Create a better tenant experience

IoT device management can also create a better tenant experience. Without smart devices, your tenants have to remember physical keys, be home to accept deliveries, manually set thermostats and lights, and more. This highly manual interaction with your property can be frustrating for your tenants.  

With IoT device management, tenants no longer have to manually manage every aspect of their rental. Instead, they can access your property, let delivery people in, set thermostats/lights, optimize utility usage to cut costs, and more all from a smartphone, tablet, or computer. This seamless digital experience can drastically improve your tenant experience – boosting tenant retention and property revenue. 

Why does IoT device management matter for single family for rent properties?

IoT device management sounds pretty great. You and your tenants could see a lot of benefits from this tech. But, as cool as it sounds, IoT device management is just a nice-to-have, not a must-have – right?

While IoT devices were a nice-to-have in recent years, they’ve increasingly become a necessity. Today’s renters want a digital experience that makes everything easy and quick – from unlocking their front doors to setting the temperature when they’re away to turning off lights remotely and more. 

If you don’t have great IoT device management tech that creates this experience for your tenants, you’ll fall behind competitors who do. Even if your rental is more updated or in a better location, you’ll lose great tenants to competitors with better smart home automation experiences. 

Plus, IoT device management can help you cut costs, increase revenue, and improve efficiency. If you don’t use IoT device management, you’ll fall behind competitors who can better optimize their properties. 

The right IoT device management tech can be the difference between success and failure for your single family rental.  

Enable unparalleled IoT device management with BeHome247 

You know that the right IoT device management software can help you increase revenue, cut costs, and get ahead of competitors. But, so many IoT device management options can make it hard to find the right one. 

If you’re looking for the best-in-class IoT device management platform, BeHome247 is the way to go. Unlike other IoT device management software, BeHome247 goes beyond just device management. Instead, BeHome247 offers a comprehensive property and device management platform for single family, multifamily, vacation rentals, and hospitality properties. 

With BeHome247, you can manage all of your day-to-day operations – like inspections, maintenance, vendor invoicing, tenant communications, IoT devices, message center, digital rental agreements, and more – from a single, cloud-based application. 

Along with being an end-to-end solution, BeHome247 is also a device agnostic platform. So, you can use almost any device with BeHome247 IoT device management – like Bluetooth, WiFi, Z-Wave, and Zigbee devices. As such, you don’t have to get rid of current devices that work well to use BeHome247.

BeHome247 also helps you get the most out of your existing tech with its middleware capabilities. As a middleware solution, BeHome247 can improve the functionality of legacy tech and add new features (like a tenant app for controlling smart devices or self-guided tours). 

If you’re looking for just IoT device management or a complete property and device management platform, BeHome247 has what you need. Snag your BeHome247 demo today to start managing IoT devices like a pro.