Smart home technology – smart solutions for BTR

US-based business SmartRent, who launched in the UK in early 2020, has been growing its enterprise smart home technology, despite the disruption that Covid-19 continues to bring.

Smart technology with apartment connected devices - SmartRent | BTR News

US-based business SmartRent has been growing its enterprise smart home technology, which boosts Build to Rent developers and operators’ bottom line while enhancing the resident experience. Entering the UK market in early 2020, it seems the company’s arrival couldn’t have come at a better time. The coronavirus pandemic, the mass move to remote working, and increased reliance on technology solutions are all major factors in the heightened demand for smart technology and increased operational efficiencies.

Founded in 2017, SmartRent ($SMRT) is an enterprise smart home building technology platform for real estate owners, managers and residents. SmartRent’s solutions provide seamless visibility and control over assets while delivering additional revenue opportunities through all-in-one home control offerings for residents. The proprietary software integrates with third-party hardware and other software vendors to provide users with one centralised platform.

SmartRent brings individual technologies together and then assembles them, so they provide enterprise-level control to Build to Rent developments. The click of a ‘move in’ button onboards residents to the WiFi system and grants access to onsite amenities. A generated code allows residents to download the SmartRent smartphone app, so they can control temperature and lighting in their home.

Upon move-out, all it takes is the click of a button to remove a resident from the automation system, energy accounts and WiFi network. All the while, operators can keep an eye on community access, security and even water detection – the latter of which is possible, thanks to leak detection sensors. The entire solution is automated, seamless and contactless.

“Our enterprise control offering allows us to link all devices to the SmartRent system.”

Demetrios Barnes, Chief Operating Officer, SmartRent

Smart home technology is increasing in customer demand. Figures show that renters would pay extra for a smart tech home – between £20 to £100 more per month.

Convenience and ease are top of the list, the resident can even book a car parking space directly through the app, without needing to speak to the concierge. Smart parking – one of SmartRent’s newest features – provides a cost effective solution while improving the resident experience. Smart devices are added to car parking spaces that use sensors to detect if the space is available. The data is fed to the app, allowing residents to see in real time if the space is available. They can then book it directly on the app.

Self-guided tours, another SmartRent feature, streamlines leasing activities. With a shift to virtual viewings brought about by the pandemic, many operators now see the benefits of using this technology post-Covid, too. SmartRent’s self-guided touring platform empowers potential residents to view properties safely and easily themselves. Operationally, Build to Rent operators reduce staff time and avoid no-show appointments.

“We are leveraging all the technology at our disposal to deliver a more convenient package.”

Demetrios Barnes, Chief Operating Officer, SmartRent

Partnerships are also on the agenda for the company, which provide an enhanced and more concise solution. Upcoming partnerships include one with a well-known appliance manufacturer, in which the SmartRent platform can monitor things like refrigerators and ovens. If wearable parts need attention, the platform sends automatic work orders to external maintenance companies. The workflow ensures issues are fixed as quickly as possible – something that is expected by Build to Rent residents.

Build to Rent developments across the country offer unique propositions based on demographics and the local area. There really isn’t a one-size-fits-all approach, which the company understands and embraces. Providing a modular solution that’s customisable to individual asset types is standard, and the solution is designed with both the retrofit and new build market in mind. With new builds, SmartRent is involved with a building from the early stages of the construction and design phases. Where retrofit is concerned, there is never a ‘too late’ – buildings can be updated quickly and easily and with very little disruption to the residents. This ensures that the next-generation smart home technology enhances the residential experience while also boosting the Build to Rent asset’s bottom line. 

The story behind SmartRent and its smart home technology

Prior to SmartRent’s launch, the co-founders of SmartRent built a similar home automation platform for the US Market – that successfully launched in over 25,000 homes spanning across 15 states. They were able to test the performance of many different types of IoT devices and perfect the platform to properly handle the concept of dual smart home management: where a renter directly controls the smart devices within their own home, but a property manager can remotely monitor its overall health, receive alerts on time-sensitive maintenance needs, and administer access credentials for work orders.

After years of platform iterations and a lot of innovation, SmartRent has been able to expand product offerings, platform integrations, hardware partners as well as the industries they serve. Their rapid expansion is the result of a deeply rooted passion for leveraging technology to solve problems caused by inefficient processes, and their dedication to providing the very best solutions to help their customers’ communities thrive.

To learn more about SmartRent and its product offerings, contact the UK team at sales-UK@smartrent.com.