San Diego is always a competitive rental market, and while there are a lot of well-qualified tenants looking for homes, there are also a lot of rental properties competing against your own. New apartments, build-to-rent homes in new construction communities, and low-maintenance condos look good to a lot of renters in the local tenant pool.
How can your San Diego rental property stand apart and continue appealing to the best-qualified residents?
We can recommend a few things, in our experience as expert property managers in San Diego. This is a unique market, and here’s what it takes to make sure your investment is getting the best kind of attention.
Making Modern Updates
A few years ago, if an investor had asked us about upgrades and renovations that they should make to ensure their property remains attractive, occupied, and profitable, we would have encouraged fresh paint, clean, hard surface flooring, simple but pretty landscaping, and cosmetic details that grab a tenant’s attention.
All of those things are still very important.
But, every landlord is doing them.
If you want your property to compete, you have to invest in upgrades and updates that matter to modern tenants. Two things in particular are important:
- Smart Home Technology
Smart home tech not only boosts the appeal of your rental, but it also adds convenience, security, and sophistication to your property. Here are some of the best smart upgrades to consider:
- Smart Thermostats
Smart thermostats can learn tenant preferences and optimize energy use. Tenants love the convenience of adjusting the temperature from their phones—and you’ll appreciate the energy savings when the property is unoccupied.
- Smart Security Systems
Security is a top concern for renters, especially in areas like San Diego. Smart locks, video doorbells, and monitored alarm systems provide peace of mind for tenants and make your property more competitive.
- Smart Lighting
From motion-sensor lighting to bulbs that adjust color temperature based on the time of day, smart lighting offers an easy way to create an environment that’s both functional and aesthetically pleasing.
- Voice-Activated Assistants
Including devices like Amazon Echo or Google Nest Hub in your rental property adds a high-tech touch that tenants appreciate. These assistants can be used for everything from playing music to controlling other smart home features.
- Energy Efficiency
Energy-efficient upgrades don’t just appeal to tenants, they also yield long-term benefits for rental property owners. They lower energy bills for tenants, and they also create an attractive selling point when marketing your property. Upgrades like LED lighting, energy-efficient appliances, and high-performing insulation can have a pretty meaningful impact environmentally and financially. You’ll find it’s easier to charge higher rents as well as attract more tenants. Properties with sustainable features often carry a premium in rent because tenants are willing to pay more for homes that save them money in other ways. Many energy-efficient features, such as LED bulbs or ENERGY STAR-certified appliances, have longer lifespans than traditional alternatives. This means fewer replacements and lower maintenance costs for you. There’s also the tax incentives. The state of California offers various rebates for energy-efficient upgrades. From solar panels to energy-efficient windows, these programs can significantly offset the cost of your investment. As you can see; energy upgrades make your property more appealing in a competitive market for many reasons.
Today’s renters are increasingly mindful of their environmental impact, and they expect their homes to reflect those values. Additionally, with energy costs on the rise, tenants are eager to save money on their monthly utility bills. According to a recently published study by the National Multifamily Housing Council, 79% of renters said energy efficiency was an important factor when choosing a rental.
At the same time, the popularity of smart home technology is climbing sharply. From the convenience of controlling the thermostat remotely to the security of smart locks, these features are no longer considered luxuries. For the best tenants looking for homes, they are fast becoming essentials.
By meeting these expectations, you’ll create a rental that appeals both to environmentally- and tech-conscious tenants while positioning your property as a premium offering in the San Diego market.
Create Curb Appeal
Your rental property’s curb appeal is critical to attracting new tenants and retaining current residents. The exterior of your property is the first thing that people see when they’re thinking about renting your home, and it often sets the tone for their entire experience. Either they’ll establish an emotional connection with the property and imagine themselves living there, or they won’t.
Here are some ways to make your curb appeal more…well, appealing.
- Lawns
Curb appeal starts with your lawn, even if it’s only a tiny courtyard that your San Diego rental provides. Keep the grass short, green, and well-maintained. Hire a landscaping service to mow the lawn weekly or bi-weekly. This is not expensive, and you can roll the amount that you’re paying into your rent.
- Create Color
Make things pretty out there. Add some color to the front of your property by planting flowers and bushes. This will add a hint of color as well as a natural touch to your property and make it look more inviting. If you don’t want to dig up the lawn, simply plant them in a flower bed or in pots.
- Spruce Up the Front Entry
The front door is the entrance to your home, and it’s easily the focal point of your property. Painting the front door can make a huge difference in enhancing your investment property’s curb appeal. Choose a color that complements the property’s exterior and makes it stand out. Painting the front door is a simple and cost-effective way to give your property an instant facelift. If you don’t want to paint the door, at least add some new hardware. A shiny door knocker or a new door knob will make the door stand out.
- Look at Lighting
Outdoor lighting can improve your property’s curb appeal while also enhancing security. You can install lights along the walkway or use outdoor lighting to highlight architectural features. You can also use solar-powered lights to save on your energy bill.
Pet-Friendly Properties are Always Appealing
For many tenants, pets are family. Yet, finding a rental property that accepts pets can be surprisingly challenging. This gap represents an opportunity for San Diego rental property owners willing to cater to this segment of renters. Pet-friendly properties are always more competitive because there’s a growing pool of tenants who own at least one pet. More than half of the renters looking for homes are looking to move in with their dog, cat, or both. Pet owners are also more likely to stay long-term if they find a rental property that accepts their pets, leading to lower turnover and fewer vacancy periods.
Making your property pet-friendly is more than a gesture of goodwill. It’s a strategic decision with clear financial and operational advantages. You’ll have a larger tenant pool, reduced turnover, and a competitive edge over all the no-pet policies that are out there.
By advertising your property as pet-friendly, you immediately differentiate it from competitors, making it easier to attract applications faster and reduce vacancy periods. Zillow Rentals tells us that listings labeled as “pet-friendly” receive up to 30% more inquiries than rentals without that label. That’s pretty significant.
Once you decide to allow pets, the next step is promoting your offering effectively. Specify any pet-friendly amenities in your listing, such as nearby parks, fenced yards, or solid surface floors that are easy to clean. Be clear about pet fees, deposits, and the types of pets allowed. Transparent communication sets the right expectations upfront. If your property includes pet-friendly enhancements like a built-in dog door or durable flooring, make sure potential tenants know about them.
Market Your San Diego Rental Strategically
It’s possible you’ll have the best property on the market, but if no one knows about it, you’re going to have some trouble renting it out.
An appealing property needs an appealing marketing strategy.
This starts with an exceptional listing. You’ll attract tenants to your property when you list a lot of high-quality photos and even video. As they’re scrolling through one listing after another, all of those rental homes can start to look alike. Make sure yours looks different from the others.
Upload a lot of pictures with your listing. Those will be more important and informative to tenants than the written description. Make sure you’re showing off a property that’s clean, empty, and move-in ready. Include photos of the living room, lots of pictures from the kitchen, and shots of the bedrooms and bathrooms. A video tour can help prospective tenants decide whether they want to schedule a showing.
These are general and effective tips we can offer property owners who want to ensure their rental investment remains appealing to qualified tenants, even in a competitive San Diego rental market. If you’d like some customized advice based on your unique property, we can provide that, too. Contact us at Chase Pacific Property Management & Real Estate Services.