By now smart home technology in a California rental property is not such a luxury. Residents are expecting to find at least a few automated features as they’re choosing their next home.
This is not so bad for rental property owners, either. Smart home technology drives up property values. Rents can go a little higher when there’s a smart thermostat in place or a video doorbell. Modern rental properties today have better security, improved energy efficiency, and all the convenience that residents are requiring.
It’s unreasonable for investors to install every latest gadget into a rental property, however.
At Bell Properties, we’re getting a lot of questions about what’s really worth the investment.
Let Bell Properties handle this.
As leading property managers in California, we’ve been collecting data on what kind of improvements property owners are making and talking to tenants about which smart home features are most important to them when they’re looking for a new home.
Here’s what we’ve found and how we can help.
What Are California Tenants Looking For?
Convenience.
That’s what drives the trend in smart home technology. The residents most owners want to place in a property are looking for a rental experience that isn’t stressful or difficult. They don’t want the details of their daily lives to be a struggle. When they find a property that can accommodate that desire, they’re going to want to see it, apply for it, and lease it.
Tenants want to pay rent online. Why? Because it’s easier. It’s less time consuming than paying with a check or in person. It’s more secure, and it gives them an immediate acknowledgement that rent has been recorded and their account has been updated. Interested in online payment platforms? Contact Bell Properties.
Tenants want to make maintenance requests online, too. Why? Because then, they don’t have to track down their landlord or property manager and explain the problem. They don’t have to worry that it’s too late or the weekend or that the problem is maybe not really a big deal and doesn’t require a phone call. Instead, they can send an email or fill out an online maintenance request and even attach photos if they’re not sure how to describe the issue. It’s convenient. Online maintenance requests make their lives easier. Wondering how to incorporate this? We already have a process in place, so contact us at Bell Properties.
We offer tenants convenience, efficiency, and simplicity. We show tenants that we’re not only aware of their desires and demands; but also willing to meet them.
Setting a Budget for Smart Home Tech
Before making any financial commitments, investors need to evaluate budgets and determine how much can realistically be spent on smart home upgrades. Consider where operating expenses fall and whether smart home tech can bring some of those down. Estimate how much additional revenue these upgrades could generate for a particular property.
When investors come to us for advice on implementing smart home tech into rental properties and they’re not sure about how to budget, we recommend:
Setting a maximum amount that will be spent. As with anything, a good budget might include a ceiling.
Researching plans and options. At Bell Properties, we look for cost-effective brands that offer reliable tech at competitive prices.
Comparing features. We prioritize bundles and packages that might provide discounts when more than one product is purchased.
Not sure how all of this would even be installed? We can help. Contact Bell Properties, and we can put together an idea of how to install and monitor the performance of new smart home tech.
We can also monitor spending and be prepared to make adjustments if necessary. We can track actual versus estimated costs. We’ll prioritize return on investment (ROI) and assess whether upgrades are delivering the desired results. This evaluation can guide future tech investments.
Bell Properties Can Help You Choose and Prioritize Smart Home Tech
The rental markets throughout California are competitive, and that’s why Bell Properties can make such a difference in helping to select and prioritize the smart home tech that may be going into a rental property.
What we recommend will depend on the property we’re working with, so it’s important that investors interested in these improvements contact us. These are the general recommendations we’d make in terms of starting points.
Smart Thermostats
A smart thermostat is a win-win for both property owners and tenants. These devices allow users to control the heating and cooling of their home remotely via a smartphone app. This can lead to significant energy savings, appealing particularly to eco-conscious tenants while reducing utility costs. Not sure which brands are best? Contact Bell Properties, and we’ll offer user-friendly systems that learn tenants' schedules and adjust temperatures accordingly, creating a comfortable living environment.
This is a great benefit to tenants, but it also helps owners during vacancy and turnover periods. Smart thermostats will keep energy bills manageable during periods of occupancy and turnover. They’ll also protect the interior of rental properties without over-cooling or over-heating the home when no one is there.
Keyless Entry Systems
This is a fantastic way to start when it comes to smart home tech. Keyless entry systems are affordable and easy to install. Security and convenience are top priorities for any tenant, and prospective renters are impressed with any entry system that doesn’t include a traditional key that can easily be misplaced.
Installing a smart lock or keyless entry system can offer both security and convenience. Tenants can enter their homes using a code, fingerprint, or smartphone app—eliminating the risk and hassle of lost keys. For property owners, keyless systems simplify the turnover process; simply update the access codes when new tenants move in. We love being able to share codes with vendors and service providers so that we don’t have to be at the property physically every time they need to enter. There are several different products in a number of price ranges, so contact Bell Properties and we’ll review the options.
Smart Lighting
Smart lighting systems not only add a modern touch to a property but also offer practical benefits to tenants who are concerned with energy bills and environmental sustainability. Tenants can control lighting remotely or set schedules to turn lights on and off at specific times, enhancing security and energy efficiency. Systems can be simple or complex, providing extensive customization options. This allows tenants to create the perfect ambiance for any occasion.
Security Cameras
Investing in a smart security camera system can deter criminal activity and make tenants feel safer in their homes. Many tenants prioritize security when choosing a rental, so this upgrade can make any property more appealing. Balance privacy with protection when installing security cameras. Video doorbell or security camera? It depends on the property type. Let us handle this. Our experience and our relationships can bring in a good deal and a smart choice.
Water Leak Detectors
Water damage is a major concern for property owners, leading to costly repairs. Smart water leak detectors can alert both property managers and tenants at the first sign of a leak, helping to prevent serious damage. These devices, offered by a number of different brands at a number of different price points, can be placed around appliances, under sinks, or near water heaters for peace of mind.
It’s helpful for tenants to have this type of smart tech in place, but it’s especially worth the investment because the property owner is responsible for paying to fix any plumbing issues. The sooner we know there’s a problem, the quicker and more cost-effectively we can address the issue.
Smart Smoke and Carbon Monoxide Detectors
Safety upgrades are always a smart investment. Smart smoke and carbon monoxide detectors provide real-time alerts to phones and can interconnect with each other for comprehensive coverage. Wondering where to look? We have been working with brands like Nest Protect and other leading options that offer both smoke and CO detection, along with voice alerts and smartphone notifications. Contact us at Bell Properties to update your smoke detectors and carbon monoxide alarms to these smart models. We exceed the legal requirements in California for rental properties and provide tenants with a safer rental home.
These are the most general smart home tech options that we can suggest to rental property owners throughout California. The best thing to do, however, is to let us take a look at the property and the local market and talk about what’s going to work best for any unique investment.
There are a lot of nuances when it comes to neighborhoods and competing rental homes, and we want to make sure that the right features are in place.
Investing in smart home technology can significantly enhance the appeal and value of a rental property. These upgrades not only provide convenience and safety for tenants but also offer long-term benefits for property owners by attracting and retaining quality tenants. Don’t have to invest too much money to provide smart home tech. Work with us and we’ll make sure every dollar is well-spent on these upgrades.
Let’s talk about it. Contact us at Bell Properties for support in managing California rental properties.
