In this first of three features we will be shining the spotlight on what makes SmartRent the all-in-one Build-to-Rent portfolio managing app that tenants and investors alike are falling in love with across the pond in the multifamily world!
As many of our readers will know, at UK Build to Rent we have a personal fascination and affinity with the technology in this sector and are always looking out for the inventions that we believe can add something truly unique to a development offering – we would like to introduce you to SmartRent who we believe have the answer to the question all BtR owner and operators have been asking – How do I bring all the technology my development uses into one easy to manage location?
Let’s jump in to see what SmartRent can deliver!
SmartRent is an enterprise home automation company that develops software and hardware to enable developers and operators of build to rent estates, to manage their buildings more efficiently, to provide a more convenient and future-oriented lifestyle to their residents, and to gain better protection of their built assets. All delivered through a single, centralised platform for the operator and smart phone app for the resident.
From smart lighting control, leak detection, and voice activation, to self-guided tours and parking management. SmartRent can be used as an umbrella application that dovetails with all the leading property management systems and pulls together all of the data and technology being used within a development to streamline operational tasks through real-time demand based work orders, to automate prospective resident apartment viewings and new tenant onboarding. It enable the owners of the development to centrally review the data being churned out by the building management systems (BMS) throughout their entire estate. Increasing efficiency, lower operating costs, and improve on their building designs for future schemes.
What sparked the idea for SmartRent?
SmartRent was born in 2017 and is the brainchild of Lucas Haldeman, the current founder and CEO of SmartRent. Lucas had extensive experience in the multifamily industry in the operating side of the business where he had over 44,000 homes all being managed by separate entities and platforms around the US. Although there was plenty of technology to manage individual homes, there was nothing on the market to achieve the same level of control and management at an enterprise level for a large portfolio. As a result, SmartRent was born as a solution to control and manage homes at an enterprise level tailor-made for the mass rental market. As part of the global expansion of SmartRent, the company entered into the UK market in 2019 with Muir Baxter joining as UK Sales Director in 2020.
SmartRent in a BTR
It’s clear to us here at UK Build to Rent that Lucas has the industry experience to truly understand the problem that SmartRent is looking to solve and it’s something we see in every development we’re involved in.
A development and portfolio need to integrate technology and to collect data to maximise efficiency, tenant experience and profitability but how do you combine and integrate all the information they produce into an easy to navigate system? – this is the solution that SmartRent provides.
As SmartRent put it themselves – they turn a Build to Rent property into a connected community by offering smart home automation solutions for all BtR property types that add value, operational efficiencies and ancillary options!
SmartRent allows an outstanding opportunity for BtR investors like UDR, Cortland or Greystar to add a margin to continually improve on every development they invest in. This new control of their portfolio can increase the net operating income and be used as a true USP within the UK – all through inventive and innovative methods of connecting technology and data points.
During the global COVID pandemic SmartRent has been instrumental in decreasing their client’s void periods and keeping apartments leased through their innovative self-guided tours where they were able to carry out over 360 tours in 30 days. This is a testament to the ability of SmartRent to remain flexible in order to achieve the clients and developments needs no matter the external circumstances.
Who wins here?
With SmartRent, we see this as the first application within a Build to Rent development that can benefit the Investor’s margin while truly improving the rental experience for the tenant. SmartRent features an extensive platform that allows the operators to manage their buildings in a more efficient manner while constantly improving resident experience. Developments utilising SmartRent can offer their tenants the opportunity to truly have more comfort from and personalisation of their home.
With BtR developer / operators like Moda, Greystar and Vertus continually improving the attention they dedicate to the value they bring to their investors, as well as their tenants, it seems as though SmartRent could be the perfect platform to take them one step ahead of the competition by using the most efficient technology encompassing platform currently on the market that’s been created with the rental market in mind!
Get in touch
If you would like to learn more, SmartRent can be contacted at sales-uk@smartrent.com
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