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How Smart Services Help Increase Revenue for Property Management Companies

For property management companies looking to differentiate their properties and make them more attractive to prospective tenants, you need to look no further than adding smart services. According to property management software company Entrata, many renters are willing to pay between $20-$46 more per month for an apartment with modern technology in it.

That’s up to an additional $55,200 per year on a 100 unit building.

For now, it’s still an amenity, but soon it will just become expected. So start increasing your revenue today by adding the technology your tenants want.

Convenience and security give you a competitive advantage

The same study found that tenants value the added security of a smart home system over other amenities—like a pool or parking—that might be offered by a property. With smart door locks, as well as motion and door/window sensors, your tenants can get added peace of mind knowing that they’ll get alerts if any unusual activity is detected on the property.

Add smart lighting to automatically light up entryways after dark and thermostats to warm or cool the units before they get home, the experience will be more than enough to make your property more attractive, increase your revenue, and give you an edge over your competition.

Find the right technology partner

Finding a way to offer all these services on your own is daunting, especially if your business lacks in-house expertise on smart home technology. Therefore, finding a partner whose platform offers the necessary hardware, and an app to control those devices, is essential.

You’ll want to seek a partner that is innovating and can provide an end-to-end solution for your business including a secure cloud infrastructure, application for device control, and customer support should the need arise.

And, if you can find one that offers ways to increase your operational efficiencies on the back-end with in-app rent pay, active monitoring of empty units, and more, that’s a partner you’ll want to build a long-term relationship with.    

Ezlo offers all of that and more. From water damage prevention solutions to remote access for maintenance staff and energy monitoring to smart home solutions, Ezlo delivers one of the industry’s most cutting-edge platforms and market-tested solutions to help you start growing your revenue right away. 

For more information about how Ezlo can help you increase your revenue and decrease your operational costs, contact us today at [email protected] to start a conversation.

Related Resources

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