In today’s new development market, it’s not enough to create a beautiful building and wait for buyers to come knocking. Increasingly, buyers are looking for something unique that stands out in the sea of housing options.
That’s why CertiStay — the renowned third party safety and security certification for short term rental properties, backed by a high profile team including Terry Jones, Founder of Travelocity and Founding Chairman of Kayak.com — is introducing CertiHome, a certification that sets a completely new standard for safety and security in the new development industry.
Developments that are certified by CertiHome provide developers with a unique marketing opportunity. Real estate investors are looking for properties that offer the gold standard in smart home safety and security, and a CertiHome certification can ensure your property stands out from the crowd.
“A developer can declare that a property has a certain level of safety and security, but they can’t certify that as they are an Interested Party and not sufficiently arm’s length,” says CertiHome CMO Wolf Worster. “That has to come from a third party who is independent and has the credentials to back up the certification.”
There is a significant potential advantage for developers looking to leverage metadata from the installed safety and security devices utilizing the proprietary CertiHome Telematics technology – effectively turning a collection of “smart homes” in a condominium tower into a “smart building”. CertiHome technology collects the metadata from each unit, which is then streamed to a custom user interface owned and controlled by building management. From there, it can be sent to the municipality for potential property tax relief (“green” building status), utility providers for potential rate reductions for improved energy consumption, and insurers for policy rate reductions. There is also the potential that developers may get preferred consideration from the municipality for future development permits if they are viewed as creating “green” buildings. The custom user interface will also allow building management to be notified when there is a problem in a given unit and when batteries are low or time sensitive items need replacing such as food and water in the earthquake preparedness kits.
There’s also a pricing advantage as units certified by CertiHome have the potential to be sold for higher prices because of the added value for buyers. Developers looking to attract investment buyers should also consider how attractive their properties will be to tenants. Investment buyers renting out their units, will be looking to secure the highest possible return on their investment. CertiHome polling found that tenants are willing to pay top dollar for a unit that makes them feel secure.
“…Renters clearly see value in smart technology. Almost a quarter (23%) of them would be willing to pay $31 to $45 a month more in rent, and 8% of those would pay $46 or more, for a smart apartment,” according to a study conducted by Entrata.
CertiHome improves the safety of each unit it certifies by including state-of-the-art smoke and CO detectors. CertiHome even has proprietary technology which causes household fans to activate in the event CO or smoke is detected causing them to act as a life saving device giving residents time to exit safely in the case of an emergency.
A first aid kit and emergency preparedness kit are provided, for any unforeseen accidents and weather events.
Cameras send alerts to residents’ phones when they detect activity, and panic alarms are in place for emergency situations. Smart valves and plugs alert residents when faucets and appliances have been left on and allow them to turn them off remotely from a mobile device.
These are the unique features that can make a development stand out and sell faster.
It is important to note that the proprietary CertiHome safety and security design is not dependent on any single source supplier of safety and security devices. The custom “dashboard” has the ability to harmonize devices from any supplier. This ensures that the CertiHome safety and security solution will always be at the leading edge of technology as new and improved devices are created.
CertiHome will be offering a proprietary Home/condo owners insurance policy which will offer a substantial discount from standard rates and which can be bundled into the purchase price – another selling feature. Having the insurance in place will speed up conveyance of the property to the owner thereby improving the developer’s cash flow.
Don’t wait to make this important investment — for more information about what CertiHome can offer, visit www.certihome.ca.