The Future of Renting
Transforming Single-Family Rentals with Smart Technology
by Sheri Young
As the single-family rental (SFR) market adapts to new challenges, the role of smart technology is evolving from a “nice-to-have” to a crucial component of modern property management. As 2025 approaches, the question is not whether to adopt smart technology, but how best to leverage it to improve property management and the rental experience.
Here is a look at three key areas where smart technology is shaping the future of the industry.
Enhanced Asset Protection
Keeping properties secure and well-maintained is a growing priority for property managers and investors, especially given the recent surge in trespassing and theft incidents in metropolitan areas like Atlanta, Chicago, and Dallas. This trend has highlighted the need for more sophisticated and flexible ways to monitor vacant properties between tenancies. Smart monitoring solutions safeguard these assets more effectively and respond to potential issues quickly.
For example, Swidget’s vacant property monitoring kits utilize discreet high-definition video cameras and AI-powered human detection to provide real-time alerts when unexpected activity occurs in a vacant property. The cameras also capture live audio and video of the activity in the property that helps staff and law enforcement better prepare themselves to enter a potentially unsafe situation.
When a property is leased, the solution can easily be removed and redeployed to another vacant property. This portability not only maximizes the usefulness of the equipment but also minimizes long-term costs since equipment can be moved as needed, instead of repurchasing it.
This proactive approach to asset protection allows for greater safety in potentially dangerous situations, helps to prevent trespassing and property damage, and gives property managers valuable peace of mind, allowing them to focus on other operational priorities.
Improved Tenant Experience
Today’s tenants are not just looking for a place to live. They want a home that aligns with their lifestyle and expectations. A recent survey by Rent.com found that 82% of renters want at least one smart device in their home, with many willing to pay a premium for properties equipped with smart home technology. In response, many property managers are exploring ways to offer smart-ready homes that give tenants both convenience and control.
While smart thermostats and door locks are already popular, Swidget’s modular smart products take tenant customization to a new level. Once smart-ready outlets and switches are installed, tenants can select and swap different smart sensors (from air quality sensors and night lights to USB chargers and motion sensors) according to their unique needs. By offering flexible smart technology, tenants are empowered to make a space their own while ensuring core functions like safety and energy efficiency.
With connected outlets and switches, tenants can also monitor and manage their energy usage in real time and set schedules or automation to turn off devices when they are not needed. This not only enhances convenience but also makes it easier for tenants to lower their energy bills — a compelling feature for eco-conscious renters. By incorporating these features, greater tenant satisfaction and even longer lease terms are achievable as tenants feel more at home in a customized space.
Reduced Operational Costs and Maintenance
Operational efficiency is a priority for property managers, especially as expenses like emergency maintenance continue to rise. Smart technology plays a critical role in reducing operational costs through early issue detection and remote monitoring capabilities. By integrating devices that monitor temperature, humidity, air quality, and water leaks, proactive steps can be taken to prevent damage and avoid costly repairs.
Consider, for example, the impact of a water leak sensor installed near appliances like dishwashers or washing machines. When these sensors detect a leak, they cause the electrical device to automatically shut off the power to the subject appliance, limiting water damage and preventing mold growth. Similarly, air quality sensors can be connected to ventilation systems to manage moisture and prevent issues such as mold and dust mites. These preventive measures reduce emergency maintenance calls and minimize tenant disruptions.
Smart energy management solutions also offer substantial savings. Rising energy costs can significantly impact net operating income, and smart outlets and switches can mitigate this by enabling remote control of lighting and appliances, and through smart schedules and automations. Remote monitoring capabilities are particularly useful for large portfolios, where daily on-site inspections are not feasible.
Over time, these cost savings accumulate, and the data gathered from sensors helps to optimize maintenance schedules and predict repairs before problems arise, ultimately improving the bottom line.
Embracing the Future of Single-Family Rentals
As more SFR operators recognize the benefits of smart technology, we are likely to see an acceleration in adoption rates. The demand for remote management solutions, in particular, is growing as property managers seek ways to streamline operations across multiple properties. Technology that allows managers to control, monitor, and troubleshoot remotely not only enhances efficiency but also allows for quick adaption in response to tenant needs or market trends.
Looking ahead, integrated smart systems that communicate with each other will likely become more prevalent. Imagine a future where a property’s smart thermostat, lighting, security cameras, and water sensors are all managed from a single platform, providing comprehensive data that helps managers make informed decisions. These systems will likely incorporate AI to predict maintenance needs, analyze security risks, and automate responses based on occupancy patterns. Such advancements could redefine the SFR market, where seamless, intelligent property management is essential for staying competitive.
The shift toward tech-driven management is here, and early adopters stand to gain a competitive edge in the evolving SFR landscape. Integrating smart technology can future-proof assets, providing a high-quality rental experience that resonates with today’s tech-savvy renters.
