Your rental is in a nice neighborhood, so surely a home security system is an unnecessary luxury, right?
Well, maybe not. It turns out, security systems can do a whole lot more than protect from burglars. Technological advances and high returns are making it more appealing for the average homeowner to invest in home security. Here are five ways a home security system can build value for your rental.
1. Increased Curb Appeal
The safety of smart security systems isn’t just good news for you and your tenants—it’s also good news for your wallet. Buyers are more than willing to pay a premium for secure homes.
Unlike some technology, which has a short shelf life like wired home entertainment systems, security system technology holds its value and appeals to a wide range of buyers. According to one 2013 report from the National Association of Home Builders, 50% of home buyers want a wireless home security system in the home they purchase.
So if you’re planning to put your investment on the market anytime soon, installing a wireless security system can make your property far more attractive to buyers.
2. Convenience & Appeal of Smart Integration
If you invest in a home security system that’s “smart,” meaning it can be connected to other smart devices wirelessly, you could see even more benefits than you would with a standard security system. And integrating your security with other devices isn’t as hard as it once was—today, many companies design smart gadgets to pair easily with smart security hubs in the home.
For instance, an automated home security system might include access to several other appliances and devices:
As the barrier to entry for smart technology like this continues to drop, this is an investment that more homeowners can afford to make—and it’s one that could substantially drive up your home’s appeal with buyers.
In fact, 65% of home buyers would be willing to pay more for a home that includes smart tech, and appraisers are happy to make adjustments that factor in the value of smart devices.
3. Insurance Discounts
Good security measures, including a home security system, can increase your savings. Although rates and discounts vary between providers, homeowners can expect 15–20% savings on their insurance premiums when they install an advanced alarm system, says the Insurance Information Institute.
For the best discounts, you can also incorporate other security measures into your security plan, including the following:
Those insurance benefits are marketable, too. You can let potential buyers know about the available coverage discounts, making your home that much more appealing.
4. Greater Energy Savings
A little-known benefit of security systems is their potential ability to reduce energy costs. With integrated smart technology, a security system can not only monitor intrusions but also control temperature and lighting throughout the house.
While savings will vary depending on the household, a potential buyer could save as much as $180 in energy costs each year, says EnergyStar.
5. Prevention of Environmental Property Damages
A smart security system doesn’t only secure against outside threats. With an integrated security system, you can also monitor threats coming from inside the house.
For instance, temperature gauges and leak sensors can warn you if the pipes are too cold or if any have burst. By alerting you right away, a smart security system prevents more serious and costly damage from mold, flooding, and other environmental hazards. Avoiding thousands of dollars’ worth of damage from leaks means you’ve got that much more money to spend on things that matter to you.
From where we’re standing, the verdict is in. A home security system—especially a smart, wireless model—will not only keep you safe but also increase your rental’s value and even put money back in your pocket.
About Author: Scott Bay is a digital journalist who reports on the latest technology trends, focusing specifically on smart home technology, travel, and AI.
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