In Episode 26 of the Profitable Powerhouse Properties Podcast, Jonathan Cook and Bryan Jenkins welcome guest Tim Wallace from Point Central. They discuss how amenities like smart home technology create stickiness for tenants, how Point Central works, and more. Find out what the benefits to this are for property managers and how you can get the system installed at your properties!

 

Episode Highlights:

 

  • Point Central is a subsidiary of alarm.com that is strictly focused on the property management space.
  • AHI likes to be on the cutting edge of technologies that could improve the experience for their staff and tenants.
  • Tenants aren’t merely people who can’t buy a home for whatever reason and so they have to rent; there are many reasons a person may choose to be a renter.
  • Point Central is smart home technology that serves as an amenity for tenants and helps with security for everyone.
  • They offer keyless entry, app-controlled thermostat, doorbell cameras, alarm systems, geofenced actions, and more.
  • Point Central uses z-wave technology instead of wifi or bluetooth because particularly for vacant homes, property showings, vendors or contractors, there may not be accessible wifi.
  • For the alarm system, Point Central integrates with alarm.com.
  • Tenants often ask about installing a Ring doorbell or Nest smart home system or something like it, and it’s better for the property manager to install something correctly once than to install, uninstall, and reinstall different things for different tenants.
  • Point Central has decreased their prices a lot in the past few years in response to feedback from property owners.
  • Your monthly subscription is usually between $10-20 per month.
  • A lot of property managers are adding $4-7 per month on top of the subscription fee for tenants to pay.
  • Scheduling and the ability to control your heating and cooling remotely can save you hundreds of dollars on your energy bills.
  • All devices on alarm.com and Point Central are completely wireless.
  • Cloud storage for video captured from security systems is included.
  • Property managers can mark their properties that are connected to Point Central as either vacant or occupied, and it will affect the permissions and billing.
  • Point Central allows you to pull reports, set up scheduled reports, and they can also help you develop the reports you need.
  • You get a dedicated customer success manager to help train you on all the features of the system.
  • You can use the doorbell camera, motion detector, and other hardware as burglary deterrents at vacant properties even if it isn’t connected to anything, and you can move this hardware between vacant properties as needed.

 

3 Key Points:

 

  1. Smart home technology is an in-demand amenity for tenants.
  2. Using Point Central can be turned into a profit center for property managers and can save tenants substantial money on utilities.
  3. Point Central systems provide extra security for vacant properties.

 

Tweetable Quotes:

 

  • “It’s really about what services you can provide to the tenant and create that stickiness factor.” –Bryan Jenkins
  • “People are putting in these doorbell systems, people are putting in these Alexas, people are putting in these Nests, they’re doing it anyway. They’re doing it in properties that they’re renting. Just do it for them and do it right.” –Jonathan Cook
  • “We’re billing straight to the property manager and we’re giving you guys the opportunity to go back to the tenant and choose what you want to charge them. It’s turned into a profit center for you.” –Tim Wallace

 

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