Airbnb customers will pay more for smart homes.
If you have a short-term rental property and are looking for ways to get higher daily payments, you may want to add smart features to your home. A recent survey of 1,000 U.S. adult apartment renters found 57% would be willing to pay more if the accommodation included smart technology. It also found that renters would even prefer having smart technology features over a pool. This is an interesting and easy way owners can increase the amount they can ask for their properties without losing bookings.
According to the report, some of the main features renters look for include:
- High-speed internet and/or cable TV
- In-home washers and dryers
- Ability to pay rent online
- Gym/fitness center
- Smart home features (e.g. keyless entry, smart thermostat)
Given that the major short-term rental platforms already offer online payments, the addition of some of these other features - if included in property descriptions - would differentiate them from other listings and justify a slightly higher daily rate.
The survey discovered that the renters see security features like doorbell cameras, keyless entry with special codes for guests and a security system as items they would willingly pay more for. Installing many of these preferred features costs much less than you may think. If you can get even $5 or $10 more a day by having them, then it does not take too long to recoup the expense.
Given that hosts using the “disruptive” rental platforms are already embracing modern technology to their benefit, the addition of smart home features may soon be a common occurrence. Hosts who adopt this technology first will gain financially and possibly qualify for perks such as Airbnb Plus.