The Top 3 Reasons to Invest in a Smart Video Intercom
This article discusses the top three reasons why a wireless video intercom is a smart investment for property owners. So smart, that it practically pays for itself.
- Fast and affordable installation
- Increase NOI and improve efficiency
- Deliver the technology residents will pay more to get
Fast and Affordable Installation
A smart video intercom system allows property owners to update or retrofit an old entry system without wiring. A wireless door entry system is centralized in one physical location but has wireless reach to specific entry points across the entire community — main entrances, amenity rooms such as the gym or mailroom, gates, elevators, parking garages, and even elevators.
For example, a wireless smart video intercom can overcome the logistical hurdles of older or repurposed buildings by eliminating unsightly cables and cords. Working with the property’s Wi-Fi network to create service coverage, a wireless door entry system enables a scalable retrofit option without costly renovations.
Let’s recap. Wireless video intercoms cost less than wired systems because:
- You don’t need intercom hardware in every unit.
- You don’t have to run wiring throughout the building.
The LiftMaster Video Intercom-S, powered by myQ was built for smaller apartment buildings with less than 10 units. It’s engineered for ease of use, built to last, and best of all, it simplifies access control so owners can focus on running a smarter real estate operation.
Increase Net Operating Income (NOI) and Improve Efficiency
Whether you’re a live-in landlord or manage multiple properties, net operating income, or NOI, is an important factor in determining the property’s capitalization rate. This, in turn, gives you, the property owner, an estimated return on investment of your real estate property.
Two Ways to Increase NOI
A property owner can improve their NOI on a rental property in two ways.
- Increase revenue
- Decrease operating costs
To increase revenue, you can either increase the rent you charge, reduce vacancy turnovers, or some combination of both. The ability to decrease operating costs always comes down to improving efficiency. Investing in access control technology is a great way to check both of those boxes. Smart video intercoms and companion cloud software, for example, make properties easier to manage and more appealing to renters. Here’s how.
Automate access control for the many people who need to enter your property and do so from anywhere. This increases efficiency so you can improve other areas of your business and that decreases expenses.
How Apartment Building Owners Can Increase Efficiency by Automating Access Control
Automation, convenience security, and safety are four great reasons to be excited about smart access control technology. Want more? With smart video intercoms, property owners can simplify their operational processes with the ability to:
- Add, update, and revoke residents’ access privileges
- Assign groups, schedules, and zones to provide role-based access
- Provide access remotely with the click of a button
- Integrate with your existing property management system
- Monitor security for one or many properties 24/7 from anywhere with your laptop or tablet
- Review video logs to check access point activity
- Get real-time customized notifications, such as door ajar, permission denied, and the built-in video captures of abusive use of the intercom
Gen Y and Gen Z Renters Value Safety and Smartphone Apps for Keyless Entry
NOI depends on your ability to reduce resident churn. It’s far more efficient to renew an existing tenant’s lease than it is to market the property and make the unit move-in ready for the next resident. And today’s renters not only want but expect mobile credentials for access control.
For example, 61% of Gen Y respondents are more likely to rent a unit because of electronic access such as keyless entry. Also, 1 in 4 residents would pay over $31.00 a month to get the hi-tech apartment they want.
Do You Want to Earn $372.00 More Per Year Per Unit?
Let’s do some math. about 20 percent of residents will pay $31.00 more a month for smart technology. $31.00 x $12 = $372.00 per month per unit. Let’s say you have five units. That’s $372.00 x 5 = $1,860.00 and that’s your potential annual rent increase.
The Government Incentivizes You to Improve Your Property with Tax Write-offs
So, you can increase what you charge for rent when you give residents the smart tech amenities they want. And this increases your NOI. That’s great. It gets even better. Here’s how your legitimate tax write-off practically pays for the LiftMaster Intercom-S powered by myQ.
You can write off 80% of a smart video intercom in the year you buy it. So, $1,299.00 x .80 = a $1,039 write-off. So your out-of-pocket cost is $260.00.
This is how property owners win with a smart video intercom system. Want to talk with an access control expert. Go here.