Smart home technology has reshaped the Arlington rental market, both in what it can provide to tenants and how it can
improve your property values. How can you leverage this trend to attract more tenants and streamline
property management?
We have some ideas.
Here’s the thing: Arlington tenants are smarter and more sophisticated than ever before. They know what’s being offered in competing homes across the rental market, and they know what they want in the next property they lease. While smart home technology was once something special, it’s now something that’s expected.
Lately,
tenants have been looking for strong, fast Wi-Fi as well as the ease and convenience that comes with the functionality of smart homes. They want better security. They want modernization.
Rental property owners and real estate investors are continually looking for ways to improve their tenants' experiences to retain them for the long-term. One of the ways to achieve this is through implementing innovative technologies such as smart home tech.
Today, we’re sharing the guide we’ve put together around smart home technology and how to be smart about providing it. Take a look at what our
Arlington property management
experience has taught us about this amenity that’s becoming more important to residents.
What is Smart Home Technology
What are we talking about when we talk about smart home technology?
Smart is actually an acronym. It means “Self-Monitoring, Analysis, and Reporting Technology.”
This is technology that’s actually been around for years. You’ve used smart technology ever since you followed GPS or invested in a “smart” phone. As we explore smart home devices and technology, we’re talking about building maintenance systems that are automated. We mean adjustable thermostats, security cameras, door locks, digitally capable appliances, lighting and music systems that sync to phones.
When internet-enabled appliances and devices can be automatically controlled remotely using a networked device, you have smart home technology. More and more homeowners are using it to make their lives easier, more convenient, and even more comfortable.
Tenants want the same access, and that’s why we’re sharing some of the benefits and some of the recommended starting points when it comes to introducing this technology to your rental properties in Arlington.
The Benefits of Smart Home Tech for Landlords
Before we get into the types of smart home tech you should be offering, let’s review why it matters.
Smart home technology offers a myriad of advantages that can make your property stand out in the competitive Arlington rental market. But, it does even more than that. Here are a few benefits to consider:
Increased Property Value and Appeal
Modern tenants love convenience, and they don’t want to feel like renting from you is a burden. By upgrading to smart home tech, you could increase your property's attraction and possibly justify a higher rent. Tenants will be willing to pay more for a home that has desirable features and fixtures.
Energy Efficiency
Smart home technology includes advancements in making your rental property a little bit greener. Smart thermostats and lighting, for example, can reduce utility bills, which is an excellent selling point for cost-conscious and
eco-friendly renters.
Enhanced Security
Smart locks and digital keypads and security systems not only make tenants feel safer but can also reduce the risk of break-ins. These smart home upgrades also help you out during
vacancy periods and turnovers. You can keep better control over access to your property.
The Best Smart Home Technology to Download
You could spend thousands of dollars bringing your rental home up to speed with all the latest smart home tech. But, that probably isn’t necessary. There are different levels of involvement, and plenty of options when it comes to how much smart home technology you want to invest in.
How can you prioritize? We can help by looking at some of the most common smart home devices found in rental properties:
Rental Property Smart Locks
Smart locks are easily found on rental properties and even owner-occupied properties all over Arlington. These are a benefit to you as an owner as well as your tenants. They allow you to grant access to tenants remotely or with a code. You can change the code between tenants or when you
have a vendor showing up to complete work. There’s no need to worry about lost keys or rekeying the property between tenants. We also like smart locks for self-showings. They’re secure, inexpensive, and efficient. Some of the best types of smart locks are those with a programmable keypad or a lockbox. You can also download an app to unlock doors or allow tenants to do it with their cell phones.
Tenants won’t miss the keys that they need to carry around. It’s a modern, convenient way to get in and out of one’s own house, and when guests and family members have the same access code or PIN, fewer keys to your property are out there in the world, potentially falling into the wrong hands.
Video Doorbells for Security and Ease
Tenants love to feel safer and more secure in their homes, and video doorbells can accomplish that. They’re hugely popular. Just drive through any residential neighborhood in and around Arlington, and you’ll see video doorbells on a large number of front doors. They’re showing up on condos, townhomes, and even in apartment buildings, too. Tenants appreciate these video doorbells for safety, security, package-tracking, and ease.
With a video doorbell installed on the front door, tenants will be able to see who is outside of their house and who might be approaching the property. They can make decisions about whether they want to answer the door, ignore it, or call the policy.
Greener Tech Enabled Homes: Smart Lighting and Smart Thermostats
With smart lighting systems, your tenants can set the lights in the home to timers or control them on their smartphones. Exterior lights can also be motion activated. This is good for the security of your property and your tenants, and the interior lights will help tenants keep electricity costs down. It’s more intuitive and a greener way to keep the lights on in your rental home. Tenants can turn the lights on as they’re arriving at home, saving money and feeling safer.
Like lighting, the smart thermostats you install can help tenants conserve energy, reduce their electric bills, and live greener. Smart thermostats can intuitively decide when to cool or heat a room, depending on its temperature and whether anyone is home. These can be programmed for time of day as well. Settings might change depending on the time of day, and whether it’s a Saturday or a Tuesday.
Security Systems Enabled by Technology
Security is high on the list of what matters to tenants. It should be a priority for you, too. When you invest in smart home technology that
keeps your property safe, you’re
protecting your investment. Install security systems for vacancies, and offer activation to tenants if they want this type of technology while they’re living in your property.
Integrating Smart Home Tech and Personal Devices
Voice-activated assistants have become completely normalized, and talking to that cube on your counter that happens to be listening to everything you say is no longer a big deal. You might find yourself barking instructions to Siri or Alexa or Google.
Tenants are doing this too, and allowing your residents to integrate their smart devices to your smart home tech is a great way to attract tenants and raise rents. This will streamline and centralize all the other technology that may be available.
Installing Smart Home Devices
