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How Some Clients Are Adding $30,000 per year to the Bottom line
Some groups are seeing great returns by adding a new line item to their new home signup contracts, a $30/mo. automation management fee. By doing this, they are seeing a few benefits:
- They add $360 per year in additional revenue per property vs. a technology cost of $60-$80 per year
- Homeowners recognize the automation management as a key advantage for using the management group over other options even though some may also offer automation. Why? They see it every month on their bill, it is pressed in the signup process and the management group usually includes the hardware! covering the hardware costs in house (which are paid off within a few months by the new fee)
- They are able to experiment with more “bells and whistles” to deliver higher guest experiences AND owner experiences thanks to the new revenue stream. Increasing perceived value here is a big win for all involved.
But wait, my homeowners will never accept a new fee!
Understandably, no one wants a new fee if what they've been doing works. The typical approach we've seen work includes:
- All new properties added are introduced to the new fees in the signup process as well as the welcome pack of new home automation goodies. The additional value far outweighs any concern over the cost and it is what they will know from the beginning.
- Existing owners are given the option to receive the new automation program at their discretion.
With the management group covering all hardware costs, the introduction of the “owner's monitor dashboard” (a feature of Big Smart Home) to view the status and care of their property, and the improved automated experience, the $30/mo. may seem more reasonable than you think!
- Some groups introduce it with an option today but mandatory at the next renewal. This gives you time to work with them on seeing the benefits before a full commitment is required.
All that being said, its never easy to change and the addition of a new fee may not be for you or your group. It is simply an option we've seen work successfully for others.
Make Smart Home Solutions work for you. Find the ROI
Getting a return on your investment is an obvious goal. Start considering home automation much more than a sunk cost and see the investment potential. Big Smart Home is designed to maximize your return on investment and not simply be a “cost of doing business.” Most systems will struggle to prove the return or have to stretch it over 5+ years to see it. Our goal is to see a return as quickly as possible and our pricing model reflects that.
See direct return on your investment in several ways:
- Workflow improvements – eliminated key exchange, drive times
- Energy Savings – HVAC & pool monitoring with automated adjustment reduce costs by up to 30%
- Technology fees to owners – many groups charge around $30/mo. to owners for technology and monitoring.
- Save on re-key fees – minimize the need to ever re-key a lock
- Save on lost keys, garage clickers, etc.
- And make even more by getting all these benefits with the lowest cost system on the market.
We'd love to discuss this for your specific portfolio of properties and get you setup on a free, no-obligation trial. Just fill out the form below and we will be in touch!