Smart technology can help landlords save time and money, but only if they implement it with tenant privacy in mind.
Owning a few rental units can be a great way to establish a passive income stream, but it can be hard to be a landlord on your own. You can’t be in several places at once, and even if you hire a property manager, you may still find that you’re being called out a lot more than you’d like. Fortunately, there are increasingly more technology solutions to help you better watch your properties while minimizing your time on-site.
“In cities across the country, our buildings are getting older,” says Aki Karja, director of Proptech at Fairstead Ventures in New York City, New York. “When you are doing a ground-up new development, you can build it to the latest standards to make it sustainable and efficient. But what about the buildings that already exist? Smart technology interventions are key to reducing the carbon footprint of our buildings, especially as cities introduce new sustainability and carbon reduction benchmarks that real estate owners and operators need to meet over the next few years.”
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