3 Ways Renters Save with Smart Home Technology

Think you need to be a homeowner before investing in smart home technology? Think again! If you’re currently renting but have not installed things like a smart security system or smart thermostat, you are likely missing out on major cost savings.

Can smart home technology really save renters money?

While renting a home comes with its own set of perks, rent itself can be costly. For example, average rent prices in Chicago are reportedly around $1,800 per month for a one-bedroom apartment and $2,200 for a two-bedroom. That’s significantly lower than other major cities like New York, Los Angeles, and Washington D.C. While we can’t help negotiate rent rates, we can demonstrate a few ways to lower other costs associated with renting a home. Here are three ways renters can save with smart home technology.

Insurance Discounts

Just like car insurance companies often discount rates for anti-collision and other safety features, many homeowners and renters insurance companies are following suit when renters install smart security devices. According to Consumer Reports, major insurance companies including AllState, Farmers, Liberty Mutual, and Travelers offer savings for installing smart safety devices like abode’s wireless security system If you can’t find information on savings with your renters insurance provider, it’s worth a phone call to see if you can negotiate a discount.

Heating and Cooling

When it comes to saving on heating and cooling costs, the secret is in automation. A Nest Labs report shows people save an average of 10-12% on heating and 15% on cooling bills, just by installing a smart thermostat. Instead of letting the heat or air conditioning run unnecessarily long or while no one is home, a smart thermostat, like those from Ecobee or Nest, automates the temperature for you. When you pair your smart thermostat with abode, you can set up custom automations or control your thermostat manually from your phone, wherever you are. These savings can be significant for those renters who pay separately for their heat and air.

Electricity

Similar to saving on your heating and cooling, electricity bills slim down with the installation of devices like automated lights and appliances. For example, connect your smart bulbs to your abode system and never worry about leaving unnecessary lights on again. You can program your lights to turn off when you leave home, or set timers on lamps to turn on when the sun goes down. If you have other smart appliances, you can automate them to run before 10 a.m. or after 7 p.m. in order to avoid peak demand times when electricity typically costs more.

Save With abode

Installing abode devices can automatically cut costs on renters insurance. When paired with smart thermostats and other smart gadgets like lights and appliances, you’ll see your heating, air conditioning, and electricity prices dip, too. Another perk for renters with abode is the ease with which your system moves with you. When moving time comes around, simply pick up your devices and re-install them in your new home in a matter of minutes. It really is that simple. Ready to try abode for yourself? Check out our affordable plans today!