Nest products usefull?

[Jonathan Johnson]

Hello BP,

My rental is a single family home that I'd like to upgrade with a nest thermostat. The tenants are great and it's cashflowing nicely so I want to do a nice upgrade for them as a reward of sorts. 

I've been looking into the nest products and think they are great. I was wondering if anyone has put the thermostats in their rentals and any pros or cons to getting them.

Are they tied to a certain phone? If my tenants move out, will I be able to get them off the smart phone thermostat remote?

Also, I was wondering if anyone has had success with other nest or smart home products?

[Dana Dunford]

@Jonathan Johnson -- Disclosure - I used to work at Nest, and here is my unbiased opinion.

Nest is an incredible product for your personal non-rental home. It is beautiful, energy-efficient, sleek, and secure. It will impress your guests and help save on energy. I highly recommend for your primary residence or vacation home.

However, it is very expensive for a rental home. Isn't your rental an investment? I guarantee that the price vs. satisfaction to the current tenants does not pay off for you. And, you're not the one paying the electricity bill. If you want to get them an energy efficient thermostat, then get them a cheaper one. An investment property is very different from your primary place of residence. And, if your place is cash flowing nicely ... that can change any day when the market turns.

If you are a real estate investor, the ROI is never going to pay off on a Nest (unless you have a Class A+ property that goes for $15k per month ... but those are difficult long-term rentals in the first place to make a profit). Just my thoughts.