All Forum Posts by: Cody Waters

@Riley S., my thoughts exactly! A smart thermostat would make a great feature for tenant and landlord, however, I have yet to figure out how to implement it (for a long-term rental). 

@Nicole Heasley Beitenman, that's a great suggestion. Building systems is exactly what I'm trying to do now before growing my portfolio any further. Thank you for the advice!

@Nathan Gesner, I'm not sure why I hadn't thought to use an electronic deadbolt that does not connect to the internet. I really appreciate you providing the link! 

I plan to combine these two suggestions, starting small and using less "smart" technology to get started. Thank you both again for your help!!

Hello BP Community!

I have been researching smart thermostats and smart locks for homes with the intention of placing them in my long-term SF rentals. If successful this would eliminate the need changing locks between tenants, extending the life of the HVAC system, provide convenience to the tenants, etc. 

Questions/concerns that have come up include: setting up the devices on WiFi (whose paying for internet), teaching the tenants how to set these up, troubleshooting, and control/privacy (from the tenant's POV).

I believe I will need Admin access to set up, change, delete codes for the lock which would require me to provide internet access (passing along the password/cost to the tenant). Has anyone successfully implemented this in their long-term rental(s) or have any suggestions on how I might?

Hi Edward!  Congratulations on the progress you’ve made so far.  I love your ambition and follow the 1% better every day philosophy myself.  I’m local to Central AR myself and look forward to watching all the progress you make as you continue on the path you’re on!

I’ve never heard of a lease renewal fee where I reside in Central AR. My observation comes as a previous renter dating back to 2103 and a current landlord. 

I agree with others in believing charging such a fee would be a disservice to good tenants. The only way I could see a lease renewal fee working in my market (a city with many colleges) would be to charge it in lieu of increasing rent. 

Thanks Marlon! Those look like great tools I wasn’t aware of. 

Hey everyone!

I’m new to BiggerPockets and am learning as much as I can as I hope to start investing in real estate by 2020. I reside in Conway, AR with my wife and young daughter and would like to give a shout-out to any Arkansans out there who would like to network.

Anyone else reading this who would like to connect send me an invite as well. I’m currently trying to learn as much as I can and build my network so the more the merrier!