As a real estate investor in Los Angeles, you need to be always looking for ways to make your rental properties more appealing, secure, and efficient. With the growing popularity of smart home technology, there’s an opportunity to upgrade your rental property in ways that meets the evolving demands of tenants.
Smart home devices are not just fancy tech toys; they have real benefits in terms of functionality and security. By integrating these technologies, you can entice tech-savvy renters who value modern conveniences and are willing to pay higher rents for them. These investments can also differentiate your property from others in a competitive market such as Los Angeles.
Let’s take a look at how smart home technology in LA rentals can enhance the security and efficiency of your property. This is what tenants are looking for when they consider your property as their next home.
Smart Home Features to Consider
Smart home technology and its efficiency and security will appeal to tenants who want the latest upgrades and updates in their own homes, even the homes that they rent. However, this technology is often expensive, and you’ll have to be strategic and selective about what you decide to implement and when.
Here are some of the smart tech investments that are most cost-effective for the Los Angeles rental market:
- Smart Locks and Video Doorbells
Smart locks eliminate the need for physical keys, which can easily be lost or copied. By using digital keys, you can grant or revoke access as needed, making it easier to manage turnover between tenants. It also gives you the ability to allow maintenance workers and vendors to enter a property, even while you’re in the middle of a turnover or a renovation. By upgrading to locks that have a code or open with a mobile app, you’re preventing the loss of keys and you’re providing more security and convenience to your residents. It does not cost a lot to make this upgrade, either.
Smart doorbells, which often include cameras, allow tenants to see who is at the door, even when they’re not home. Video doorbells have become increasingly popular, not only because it’s more secure and keeps tenants safer, but also because it’s useful in tracking when packages are delivered. Tenants will know when their Amazon boxes arrive.
- Smart Thermostats
In addition to demanding smart home technology, well-qualified tenants today are also looking for energy-efficient homes. That’s why smart thermostats are such a good choice when you’re deciding what type of smart home tech to invest in. These thermostats are incredibly intuitive. And they will learn tenants’ preferences after a few strategic settings, eventually adjusting heating and cooling to optimize comfort and efficiency. They can be controlled remotely via smartphones, which means your tenants can adjust the temperature before they even arrive home.
- Energy-Efficient Lighting
Smart lighting is another brilliant way to incorporate some advanced technology into your rental home. This type of lighting can be scheduled or triggered by motion sensors, ensuring lights aren’t left on unnecessarily. This not only helps in reducing energy use but also deters burglars by creating the impression that someone is always home. Lighting is increasingly important to tenants, and you’ll want to make sure both interior and exterior lights are efficient, plentiful, and unlikely to increase energy costs.
- Safety: Water Leak Detectors and Smoke Alarms
Keeping your residents safe is of course a priority, and smoke detectors as well as carbon monoxide detectors are required in LA rental homes. Why not make them as smart as you can?
Smoke alarms connected to smart systems can notify both you and your tenants about emergencies, whether anyone is home or not. That does a lot for peace of mind. It’s also a bit of extra protection during vacancies, when you don’t have anyone living in the property to alert you that there’s a potential fire.
Smart water leak detectors are also helpful in keeping both your property and your residents safe. This type of intuitive technology can alert you and your tenants to potential leaks before they cause serious water damage to the property.
Implementing Smart Home Technology at Your LA Rental
When you decide to integrate smart home technologies into your rentals, it’s important to:
- Choose User-Friendly Systems. Opt for systems that are widely adopted and have high user satisfaction ratings. Anything that’s overly complicated will only frustrate your tenants and waste your money.
- Provide Training to Tenants. Brief tenants on how to use these technologies to ensure they are comfortable with them. You can discuss them at move-in, provide videos and tutorials, and make yourself available to answer any questions.
- Protect Tenant Privacy. Tenants appreciate technology upgrades, but they’re also protective of their privacy. Ensure that any smart devices installed in your rental units comply with privacy laws and do not step outside of your tenant’s comfort levels.
By upgrading your Los Angeles rental properties with smart home technology, you can achieve better security, enhanced property appeal, improved efficiency, and ultimately increased profitability.
Start simple if you’re not sure where you want to focus or how much you want to invest in these changes. For example, you could simply change out the light bulbs and install LED bulbs and then invest in something like a new thermostat. Smart thermostats and lighting can significantly reduce energy consumption, which is not only good for the planet but can also lead to lower utility bills—a selling point you can use to attract cost-conscious renters.
Or, start with security. Security is a primary concern for both tenants and landlords. Smart locks and security systems provide residents with peace of mind and make property management safer and more efficient. You can control access to the property remotely and have better monitoring in place, which can also reduce insurance premiums. This is a low-investment start to making those smart technology upgrades.
We’d be happy to provide some insight that may be specific to your LA investment property. If you’d like to talk about your ideas and goals, contact us at Earnest Homes.
