1 out of 4 millennials has at least 1 smart home device

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Have you ever come back from a holiday to find the broken lights fixed, pets fed and fresh milk in the fridge? Instead of giving multiple sets of keys to make this a reality millennials think it’ more proficient to get a smart lock.

What initially sounds like a sci-fi creation is actually rather simple, a smart lock is an electromechanical lock which is designed to perform locking and unlocking operations on a door when it receives such instructions from an authorized device using a wireless protocol.

According to a survey conducted by a lock manufacturer of 1,000 multifamily renters, millennials, especially, are interested in home technology and are willing to pay more for smart upgrades.
Specifically, the survey team found that 86% of millennials are willing to pay about one-fifth more for a smart apartment, defined as including automated or remotely controlled devices, such as a smart lock, automated thermostat, or lighting controls.

And Gen Y wants apartments with increased security—61% are likely to rent an apartment specifically because of its electronic-access features, including keyless entry doors, and 55% are likely to pay more for an apartment that has “high-tech” door locks, the survey reveals.

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Their findings showed that 86% of millennials are willing to pay more for a home or rental property if it has smart home technology. In fact, millennials are willing to pay an average of 20 percent more a month in order to secure a home with smart technology.
They like electronic access, keyless locks, interconnected doorbells, mobile-controlled security systems, voice-activated assistants, and so much more.

Smart technology has made a huge debut thanks to millennial influence, in 2016, more than 80 million smart home devices were purchased, a 64 percent increase from the previous year. Doors can be remotely controlled for greater security. Dwellers won’t have to worry about forgetting their keys, and smart tech is more difficult to break into than keyed entry.

You can monitor house and garage entrances from anywhere and enjoy the convenience of controlling it from your preferred device. Smart technology is only just beginning, by 2020 we’re expecting an increase of smart home adoption in billions of dollars worth of products.

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