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This creates added importance to maintaining existing customers, and Parks Associates research shows these customers largely value price savings. When those who terminated service in the past year were asked the reason for terminating their service, 36 percent said they didn’t feel the service was worth what they were paying for it. This is why smart home kit vendors offering self monitoring have the potential to grow more quickly by addressing the needs of non traditional security customers. These customers are increasingly interested in home control and potentially security but not in professional monitoring fees. — Contributed by Tom Kerber, Director, IoT Strategy, Parks AssociatesAs Managing Editor, Karyn Hodgson writes exclusive cover stories, such as SDM’s State of the Market series, as well as other feature length articles and case studies. She manages SDM’s Monitoring Today supplement, an annual supplement devoted to central stations and the business of monitoring.

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It's normal for a home security company to lock you into a three to five year contract. A three year contract is more convenient because a shorter contract means more versatility for you. While a five year contract might translate into a lower monthly fee, it really depends on the company. Either way, you need to be absolutely sure that you won't be moving in that three to five year period or your home security provider could penalize you. You might be able to pass the contract onto the next homeowner, but if you insist on keeping your system and moving it to your next location, you'll probably have to pay a moving fee and renew your contract. Make sure you ask a home security representative all these questions before you sign on the dotted line. Home automation is becoming much more popular as it becomes more affordable. Home automation includes tools such as light control, remote door locks, thermostat control, doorbell cameras, and even small appliance activation all from a mobile app. These devices can communicate with your mobile app and each other using advanced z wave technology. However, it's important to know that these features are almost never standard with basic alarm systems. Chances are that you'll have to purchase an advanced system from your home security provider if you want to have home automation functionality.

 

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