How new Buy-to-Let properties come equipped with modern technology

Proptech is a buzzword that combines technology and innovations currently revolutionising the property sector. This involves all areas of the property industry: property management, risk mitigation, investment, etc.

However, proptech can also help buy-to-let landlords.

One of the biggest ways technology is helping landlords is through virtual reality and 360-degree videos. This type of innovation allows prospective tenants to enjoy a virtual house tour from the comfort of their own homes.

However, this is just one of the ways proptech is making life easier for landlords and tenants.

This article will look at VR tours and other technologies bringing buy-to-let properties into the modern age.

Read on for more information.

Technology #1: Smart Locks

Smart locks may soon make physical house keys a thing of the past.

Landlords will be able to access a property through an app on their smartphone. This tech will also be available to their tenants.

Some smart locks are already available. However, they are limited in what they can do.

Certain smart locks let you open doors and give permissions to tenants and maintenance personnel. In addition, landlords can use voice technology to set these permissions. In addition, some smart locks can be paired with CCTV – much like a ring doorbell – and let you see who is outside your property.

Smart locks offer security. The technology may be alerted when a person approaches the house at night or if nobody is home.

This type of proptech would be beneficial to landlords with multiple properties in different cities. It can also help tenants who travel for work and leave their homes unattended for days at a time. This technology change in access for tenants has been used by large property developers such as RWinvest who have embraced this change.

Smart locks also offer geofencing capabilities. The user can set up a perimeter around their home. Smartphone tech will pinpoint their location in relation to the perimeter. When they venture further than that boundary, the technology will lock the house automatically. Similarly, these locks can be set on a timer, so the door will lock at a specific time every day.

Technology #2: Smart Energy

Smart technology is making homes more energy-efficient than ever. In previous years, tenants would need to turn off electrical devices manually or monitor their water usage carefully. However, technology makes these things so much easier. It also provides accurate information to help us make wiser energy decisions.

For instance, smart meters are already commonplace in most homes. They help homeowners see how much they are spending on gas and electricity. They can also help you adapt your energy habits to save money. They also provide real-time readings rather than vague estimates. This is helpful during the current cost of living crisis.

In addition, the UK government recently introduced new EPC requirements. From 2023, landlords will be unable to rent properties with less than an ‘E’ rating. However, from 2025, the minimum score will rise to ‘C’. Smart technology will help landlords maintain a good carbon footprint and meet those minimum EPC requirements. 

This will also appeal to tenants and make the home more desirable. This will help landlords achieve a higher yield as tenants will save on energy costs and may be happier to pay a higher rent if the property is good.

Some homes also have smart heating controls, which let you control the thermostat temperature via your smartphone. Like smart energy meters, this system stores real-time data to help monitor usage and make better decisions.

Similarly, smart light bulbs and plugs let users control their home’s electricity usage via an app and set timers to limit electricity waste.

Technology #3: Property Maintenance

Most buy-to-let landlords would prefer to be as hands-off as possible. One of the most arduous duties is dealing with property maintenance. Whether they need to take calls, figure out the issues with the property, speak to a contract or just fix the problem themselves, they spend a lot of time sorting out issues and not enough time on other things.

This process also affects tenants who have to live with the issues and do not have permission or funds to fix the problem themselves.

However, maintenance technology now allows tenants and landlords to identify issues in the property, find somebody to fix them and eventually resolve the problem.

Some software helps tenants fix problems themselves. Smart portals can be installed on the property. They offer instructions and advice to fix simple problems without calling the landlord. Of course, this may not always resolve the problem. However, if a landlord is called out fewer times in a year, the investment would have saved time, anxiety and funds.

Technology #4: Virtual Reality Tours

As aforementioned virtual reality has helped housing viewings move into the 21st century. Nowadays, buy-to-let landlords utilise this technology to limit void periods and ensure every property is tenanted.

VR technology allows tenants to view the property on their own time. Nowadays, people struggle to find suitable times for viewings. Websites like EyeSpy 360 & Quality Property Tours let you create VR house tours in no time at all. The tenant can then spend as long as they need checking out the property without feeling rushed into a decision by an estate agent.

The buy-to-let market is competitive all over the UK, particularly in student cities like Liverpool and Manchester. Virtual reality house tours help properties stand out from the rest. VR tech is more sophisticated than estate agent snapshots, which means the viewing is more likely to achieve a tenancy agreement.

Final Thoughts

As you can see, proptech is changing the way landlords maintain properties, making them more desirable to tenants. These innovations are making the lives of tenants and landlords easier and more efficient. It is obvious that smart technology is here to stay, ensuring the buy-to-let market is more attractive than ever.