4 Cost-Effective Smart Home Upgrades for Your Rental Unit

Published on: 10/07/2024 | Updated on: February 10, 2026

Did you know the smart home market will reach $154.4 billion this year? Meanwhile, household penetration will be 18.9% this year and 33.2% by 2028. In this article we will discuss about 4 Cost-Effective Smart Home Upgrades.

If you own a rental property and want to offer tenants more bang for their hard-earned buck, one option is to add some smart home features to the rental units. It can be a cost-effective way to offer amenities and features that other landlords in the area don’t offer.

Depending on the supply-and-demand situation for rental units in your area, adding smart home features might be a difference-maker. So, it’s worth considering whether or not adding some is a good idea.

But what smart home technology should you consider for your investment property? Consider these four cost-effective smart home upgrades for your rental property.

4 Cost-Effective Smart Home Upgrades

1. Programmable Thermostats

According to one source, the worldwide smart thermostat market was worth an estimated $2.5 billion in 2021 and will be worth $6.4 billion by 2026. That represents a compound annual growth rate of 20.8% from 2021 to 2026. Why would you consider installing smart thermostats in your rental units? There are many benefits. For instance, they can lower heating and cooling bills, increase the interior comfort of the units, and are easy to use.

If you’re looking for smart home technology that can make your rental units more sustainable, a cost-effective way to accomplish this is by installing smart thermostats. Your tenants can program them so the temperature isn’t needlessly too high or low. That’s especially true when tenants are at work or otherwise out and about.

2.  Video Doorbells

Another smart home technology that will interest tenants is video doorbells. Who wants to get up from the TV or bed when someone knocks on the door unexpectedly? Not everyone enjoys spontaneous visits. In fact, some people hate when others show up unannounced.

When you install video doorbells, your tenants can see who is at the door without physically walking to the door. They can check who’s at the door remotely using an app on their phone, tablet, or computer. This technology is affordable and can offer a useful amenity that tenants appreciate and put to good use whenever someone’s at the door.

3. Voice Assistants

Yet another smart technology that can increase the value proposition of your rental units is voice assistant technology. Your tenants can use this technology to operate other smart technology in the rental units. If you install a smart home security system, smart lights, smart door locks, and other smart technology, a voice assistant that can interact with those other technologies will be the perfect tie-in. They can also use voice assistants to get all sorts of information.

4. Smart TV

The worldwide smart television market is on pace to reach $353.3 billion by 2030, according to KBV Research. A smart TV offers advantages over a traditional TV. The main benefit is the interconnectivity factor. Tenants can sync smart TVs with their smartphones, streaming services, social media accounts, and more. It also offers app integration, which means tenants can download and enjoy games without requiring a gaming console. So, the sky’s the limit.

These are some smart home technologies to consider for your rental units. Whether you go that route or not is up to you. If you’re wondering how to make your rental units more competitive in a competitive rental market, hire a property management firm that can give you expert tips.

Find a service provider in your neck of the woods. If you have a rental unit in Fort Worth, Texas, you don’t need a property manager in New York City or Washington. You need a Fort Worth property management firm with expertise in the local market.

When you team up with a property manager, you’ll have a competitive advantage over investment property owners who don’t.