Are You Using Smart Home Tech for Your Vacation Rental?

Are You Using Smart Home Tech for Your Vacation Rental?An investment in a Myrtle Beach oceanfront condo as a vacation rental property is a smart move. With strong tourism demand and properties available in a wide range of prices, Myrtle Beach represents one of the best places to buy a vacation rental property. 

If you are planning to buy a short term rental in Myrtle Beach, consider how smart home technology can make managing it easier. While it's often a great choice to hire a property manager for your vacation rental, smart home tech can further streamline the management process. 

Benefits of Installing Smart Home Technology in Your Rental

Smart home technology comes with a list of benefits. Any one of these might be reason enough to invest, but all together they make a major impact. 

Enhanced Security

Securing your property works for your own benefit, and also adds a layer of protection that brings some peace of mind for your guests. These are some of the features you might want to add to the vacation rental, depending on what is already included in the resort or community you are investing in. 

  • Remote Surveillance: Smart security cameras allow you to monitor your property in real-time. These cameras often come with motion detection and night vision, providing 24/7 surveillance. Make sure to familiarize yourself with local laws to be sure you know where you can legally install cameras and how you are allowed to record. 
  • Smart Locks: Smart locks and similar devices enable you to control access to your home remotely. You can grant temporary access codes to guests, which expire after their stay, ensuring security and flexibility. The same goes for letting service professionals, like housekeeping and maintenance personnel, in only when you want them to have access.
  • Alarm Systems: Security systems, especially those monitored by a major security company,  offer comprehensive security solutions that include sensors, alarms, and professional monitoring services.

Energy Efficiency

Myrtle Beach is famous for its warm climate, one of the reasons people want to visit. This can lead to inefficiencies in your utilities, as your guests will want to keep the vacation rental a comfortable temperature. Smart home technology can optimize the process. 

    • Smart Thermostats: Smart thermostats can learn your preferences and adjust the temperature accordingly, which helps in reducing energy consumption when the house is unoccupied.
    • Smart Lighting: There are multiple companies that offer smart bulbs that can be controlled remotely. You can schedule lights to turn on/off at specific times, enhancing security and saving energy.

Cost Savings

While they require an upfront investment, smart home tech like this can save you money over time:

  • Utility Monitoring: Smart meters and plugs help you monitor and control electricity usage, identifying appliances that consume the most power and adjusting usage to save on utility bills.
  • Automated Maintenance: Smart sensors can detect issues such as water leaks or unusual humidity levels, alerting you before minor issues become costly repairs.

Tonya Peek with Tonya Peek Real Estate Group shared with us how she has seen smart home technology have a powerful impact on efficiency for property owners:

"Smart home technology transforms the management of rental properties by enhancing security, optimizing energy use, and automating routine tasks, making it significantly more efficient and providing peace of mind for property owners. The benefits almost always outweigh the cost to install or pay for ongoing services for the technology."

What smart home tech should I install?

Not every property will need all the smart home technology. Deciding where to invest and which technology to buy takes some careful consideration. Start by determining which features are already offered to you in the property itself. For example, if you are buying an oceanfront condo in Myrtle Beach, many of them are a part of a resort that already includes some of the security features smart home tech would offer. You may also encounter limitations regarding installation of smart appliances or thermostats, so check with the HOA first. 

After you're clear on what you don't need, consider whether any of these might be a worthwhile investment. 

  • Smart cameras: An average cost of $200-$250 camera, with around 4 cameras for the property, will give you some major peace of mind to secure the property. 
  • Smart locks: A relatively low investment, these smart locks usually cost about $200 and you'll only need 1 unless you have multiple points of entry in the home that you want your guests to be able to access without a key. 
  • Smart thermostats: Unless your property is quite large, you'll only need one smart thermostat, which runs about $200-$300 depending on the brand and the model. 
  • Smart lighting kit: Approximately $200 for a kit with 4 bulbs and a bridge. Additional bulbs cost around $50 each. Outfitting a whole house might cost between $400-$800.
  • Water leak sensors: Approximately $50 each. Placing sensors in critical areas like bathrooms and kitchens might cost $200-$300. The potential for savings in the case of a leak is massive, and usually worth the cost of the sensors. 

Ready to learn more about investing in a vacation rental? Contact us any time to learn more about houses or oceanfront condos for sale in Myrtle Beach

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Provided courtesy of the Coastal Carolinas MLS. Copyright 2024 of the Coastal Carolinas MLS. All rights reserved. Information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Coastal Carolinas MLS.

Listing information last updated on July 23, 2024 at 7:45 AM EST.

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