Ease SFR Property Management
How to Utilize Smart Home Automation
By Jason Myers
A comprehensive smart home technology package elevates the value of a single-family rental (SFR) property for both the operator and renter.
Smart tech can also ease the daily burdens of managing hundreds, if not thousands, of SFR properties in a portfolio. These smart home devices and systems (like lighting, security, HVAC and irrigation) are remotely controlled with ease via a smartphone app or via your computer. Property managers can also tout the benefits of smart home technology when renting an SFR property, differentiating it from other options and potentially driving increased rents for added functionality.
Here are a few of the most important items to consider including in a rental property’s smart home automation package to help you enhance the property management experience while maximizing your SFR investments.
Smart thermostat
According to a 2022 survey from rent.com, smart thermostats that can be controlled remotely are the most sought-after smart device among renters. And with the convenience and comfort they can provide, it is easy to see why. Most models enable users to adjust heating and cooling temperatures based on the hours residents are home to help maximize comfort and lower energy bills. Some can even use geofencing capabilities that allow them to detect whether a resident’s mobile device is present to know when to turn the A/C or heat up or down.
Furthermore, when a property is vacant, the property manager can control the asset from a centralized location, making it easier to efficiently manage the home and reducing unnecessary energy consumption and related expenses.
Smart security system
Smart home security and remote monitoring is becoming more common, so there are plenty of systems to choose from. Options today allow your renter to decide if they want to do the monitoring themselves or via a surveillance subscription. Either way, they can receive alerts anywhere about potential security threats, such as a garage door left open, and they can even arm and disarm the system remotely.
In between renters, property managers can keep an eye on vacant properties to help reduce the chances of squatters or other unwanted parties entering a property.
Smart locks
Smart locks were the second-most-requested smart item by renters in rent.com’s survey. There are multiple types of smart locks that allow residents to remotely lock, unlock and monitor doors via a phone app, maximizing both property security and convenience. Some options do not actually replace the lock mechanism, so a physical key can still be used as a backup. Plus, most smart locks allow users to confirm they have locked a door after leaving home for added peace of mind.
Smart smoke and carbon monoxide detectors
Smart smoke and carbon monoxide detectors (often combined into one device) can provide an extra layer of safety to your technology package. If there is an emergency, the devices can send alerts to the resident’s smartphone (and even property management with renter approval). They can also let users know about low batteries without the typical loud chirping of conventional models. Some models can even connect to other smart home technologies like lighting, allowing residents to be alerted by a flash or color change in every room so everyone is aware of an emergency.
Smart outlets
Smart electrical outlets enable greater convenience and safety by letting users control the power to any device plugged into it remotely via a smartphone or voice assistant. Residents can turn off a lamp or iron that they forgot to shut off before leaving home (or using voice commands when at home). Users can also track their energy use with some models and design schedules to automate their use.
Smart doorbell
Your tenants can know who is at the front door without leaving the couch (or from anywhere in the world) with a smart doorbell. These smart devices show who is on the porch via a smartphone app and allow users to talk to the person remotely as well. Some can also detect deliveries, helping residents to secure packages and prevent theft.
When a home is vacant, property managers can leverage this tool for another layer of securing a property from unwanted visitors.
Smart lighting
Forgot to turn off the lights before leaving home? Or want to be able to turn specific ones on and off while away on vacation? Smart lighting technology can deliver. Not only can they be controlled remotely, many use location-based controls to detect the user’s smartphone location and turn lights on or off automatically.
Smart garage door
Smart garage doors can help make your SFR home safer and add convenience for your renters. Whether you add smart accessories to an existing garage door opener or opt for a new smart garage door system, renters will be able to remotely monitor and confirm whether the garage door is open or closed and open or close it as needed from any location.
Be Smart About Your Smart Home Package
When you are ready to add a smart home technology package to your SFR, there are several key considerations:
Budget // What part of a property’s budget can be allocated to smart home technology? How much additional revenue can be generated by offering these enhanced features?
Consistent Equipment // If you are considering upgrading your homes with smart home automation, installing consistent equipment across all of your properties is integral. This creates multiple benefits including being able to purchase equipment in bulk, which can reduce cost; quicker installation because of system familiarity; consistent education/troubleshooting for both tenants and property managers; and better centralized monitoring.
Installation Partner // Finding a centralized partner who can install and get the equipment operating quickly reduces down time if a property is empty and interruptions to the tenant if the home is occupied. A strong partner may also be able to inventory and warehouse your equipment and deliver as needed for installation and repairs.
As smart home automation becomes more of the norm, now is the time to consider your options and upgrade your rental properties.
