SmartRent

What SmartRent does

SmartRent Technologies, Inc. is a publicly traded (NYSE: SMRT) enterprise home automation and IoT platform purpose-built for the multifamily rental housing industry. Founded in 2017 and headquartered in Phoenix, Arizona, the company delivers a two-suite architecture: Smart Communities (smart apartment hardware including the Alloy SmartHome Hub, Alloy Fusion thermostats, Alloy Deadbolt+ smart locks, leak sensors, access readers, and Virtual Intercom, all connected via the Z-Wave wireless protocol) and Smart Operations (Work Management, Answer Automation, Inspection Management, Audit Management, Self-Guided Tours, and Community WiFi). Its 3+ million connected devices serve 15 of the top 20 multifamily operators and over 600 clients, including Greystar, MAA, Equity Residential, Essex, Cortland, Centerspace, and Starwood Capital Group. The Alloy hardware line is paired with cloud software that integrates directly with major property management systems (Yardi, RealPage, Entrata, ResMan, AppFolio), and SMRT IQ provides an AI layer for operational analytics and predictive maintenance.

The company's revenue model combines SaaS subscriptions with hardware sales. SaaS revenue reached $51.6 million in 2024 with ARR of $60.9 million (up 9% year-over-year as of Q1 2026), while full-year 2025 total revenue was $152.3 million, down 13% year-over-year as the company deliberately shifted away from low-margin bulk hardware transactions toward higher-margin recurring software. Pricing is quote-based at roughly $18 per unit per month plus $900-$1,000 in hardware per unit, with annual contracts and volume discounts for large enterprise deployments. Go-to-market combines direct enterprise field sales (which secured 15 of the top 20 operators) with a newly launched April 2026 Value-Added Reseller program featuring SKBM Smart Technology as the inaugural partner, targeting the underserved small and mid-market rental housing segment within the broader 40+ million unit US rental housing market.

SmartRent is currently in turnaround mode under President and CEO Frank Martell (appointed June 2025, formerly CEO of loanDepot), pursuing a Vision 2028 strategy targeting profitability, 1 million installed IoT units, and operational scale. The company reported positive adjusted EBITDA of $0.4 million in Q1 2026 (its second consecutive positive quarter), trailing twelve-month gross margin of 34.33% (up 630 bps year-over-year), and a $99 million cash position with an undrawn $75 million credit facility. The company faces elevated execution risk following leadership churn, an ACLU lawsuit over AI surveillance practices, and the ongoing hardware-to-software transition, but retains a defensible enterprise installed base and a growing mid-market channel as it shifts to a software-first operating model.

Name

SmartRent

Legal name

SmartRent Technologies, Inc.

Website

https://smartrent.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

SmartRent is a publicly traded enterprise IoT and smart home automation platform serving the multifamily rental housing industry, providing Alloy hardware, cloud software, and AI-driven operations tools to 15 of the top 20 US multifamily operators across 890,000+ homes.

Ownership category

akta.pro rank

Product category

Multifamily Smart Home Automation Software

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Auto Controls For Regulating Residential & Comml Environments (3822)

akta.pro primary industry

Smart Building Software Platforms (IWMS/CAFM Integration, Digital Twin, Command Center) (BPABAGAG)

akta.pro secondary industries

Smart Appliance & Energy Management Integration (HSAHADAG), Home Security & Access Control (Cameras, Alarms, Smart Locks) (HSAPAQAB), Smart Lock Software Platforms & Mobile Apps (Access Control SaaS) (HSAHAEAG), Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF)

Keywords

• Smart home automation
• Multifamily IoT platform
• Property management software
• Connected apartment solutions
• Rental housing technology

Headquarters

HQ city

Scottsdale

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Supply Chain, Operations, Infrastructure

Revenue model

1. Software-as-a-Service (SaaS) Subscriptions: Recurring subscription revenue from smart home automation software platform. The company reported ARR of $60.9 million (up 9% YoY) and SaaS revenue of $51.6 million in 2024. SmartRent achieved 33% average price uplifts on three major legacy contract renewals.
2. Hardware Sales: Sale of smart home devices including Alloy SmartHome Hub, smart locks, thermostats, leak sensors, and other IoT hardware. The company is transitioning away from bulk hardware transactions toward higher-margin SaaS-focused model.
3. Work Management and Operations Solutions: Smart Operations Suite including work management, answer automation, inspection management, and audit management. The company supports 1.2 million units through maintenance and leasing solutions.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

SmartRent operates a cloud-based enterprise smart home automation and IoT platform purpose-built for the multifamily rental housing industry. The platform combines proprietary Alloy-branded hardware (smart hubs, locks, thermostats, leak sensors) with software that integrates directly with major property management systems (Yardi, RealPage, Entrata, ResMan, AppFolio), enabling operators to automate access control, monitor properties, manage maintenance workflows, and deliver resident experiences at scale.

Product overview

SmartRent is a platform-plus-modules architecture offering two integrated solution suites for the rental housing industry: Smart Communities (smart home automation) and Smart Operations (workflow management). The Smart Communities suite includes Smart Apartments as the core product, supported by Alloy hardware line (SmartHome Hub, SmartHome Hub+, Alloy Fusion thermostat, Alloy Deadbolt+ smart lock, Alloy SmartHome Leak Sensor+, Alloy Access readers, and Virtual Intercom), all connected via Z-Wave protocol. Residents interact via the Resident App while property managers use the Community Manager App. The Smart Operations suite encompasses Work Management, Answer Automation, Inspection Management, Audit Management, Self-Guided Tours, Parking Management, and Community WiFi, all designed to integrate directly with major property management systems (Yardi, Entrata, RealPage, ResMan, AppFolio). A new AI layer called SMRT IQ provides conversational analytics across operational data. The platform serves 15 of the top 20 multifamily operators across 890,000+ rental homes, supporting 3+ million connected devices. The company holds utility patents for its multi-unit automation architecture and is executing a Vision 2028 strategy to reach one million installed IoT units through both direct sales and a new value-added reseller program.

Differentiator

Problem solved

Functional benefit

Brands

• Alloy: SmartRent's hardware product line including SmartHome Hub, SmartHome Hub+, Leak Sensor+, Deadbolt+, and Fusion thermostats for multifamily properties.

Products and services

• Smart Apartments (Smart Communities Suite) Core smart home automation offering for multifamily operators that integrates Alloy hardware (locks, thermostats, sensors) with cloud-based enterprise software to automate units, control access, and protect assets across rental properties.
• Alloy SmartHome Hub Central hub device that coordinates communication between smart devices (locks, thermostats, leak sensors) and the SmartRent cloud platform using Z-Wave wireless protocol.
• Alloy SmartHome Hub+ Enhanced central hub with integrated Climate Protection Mode that autonomously adjusts HVAC when temperatures fall below 42°F, rise above 98°F, or humidity exceeds 80% to prevent property damage.
• Alloy Fusion Thermostat Smart thermostat with built-in Climate Protection Mode for automated property protection against extreme temperatures and humidity, used in multifamily deployments.
• Alloy Deadbolt+ Smart lock for rental housing that supports Apple Wallet key integration, allowing residents to unlock units with iPhone or Apple Watch and reducing rekeying costs for operators.
• Alloy SmartHome Leak Sensor+ IoT leak detection sensor that continuously monitors water-bearing systems and sends instant alerts to minimize water damage in rental units.
• Alloy Access Cloud-based access control reader/panel for community entry points, gates, and common areas supporting key cards, fobs, and mobile credentials.
• Virtual Intercom Hardware-free, browser-based visitor entry management system using QR code technology that enables secure visitor access at property entry points without traditional intercom hardware, complex wiring, or electrical installation.
• Smart Operations Suite (Work Management) Comprehensive operations management platform encompassing Work Management, Answer Automation, Inspection Management, and Audit Management, supporting 1.2 million rental homes through maintenance and leasing solutions.
• Access Control Cloud-based access management system for doors, gates, and community entry points supporting keyless entry, mobile credentials, and integration with property management systems.
• Self-Guided Tours Automated leasing solution enabling prospective renters to tour properties autonomously using QR codes and mobile access, with CRM integrations and automated follow-up workflows for property managers.
• Community WiFi Managed WiFi solution for multifamily properties that serves as backbone infrastructure for IoT devices while generating ancillary revenue for property operators.
• SMRT IQ (Conversational AI Analytics) Conversational AI layer for operational data that processes information including net operating income, energy usage, occupancy rates, and maintenance logs, providing energy optimization, predictive maintenance, and cross-portfolio insights.
• Resident App Mobile application enabling residents to control smart home devices, manage access credentials, submit maintenance requests, and communicate with property managers from a unified interface.
• Answer Automation Automated call-handling system that converts phone inquiries into service tasks with professional greetings, multilingual announcements, 24/7 availability, and up to 10 levels of escalation routing.

Quantifiable outcome

• 18-19% reduction in energy and water costs for MDU owners implementing smart building technologies (Parks Associates research)
• +8 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability9 records

Feature8 records

Partnerships

Seven partnerships are on record, tiered core, strategic and marketing.

• Z-WavecoreTechnology or Integration · 27 June 2026Z-Wave's interoperable wireless protocol serves as the foundational technology for SmartRent's smart home solutions. SmartRent has deployed solutions across 828,000+ multifamily units using Z-Wave technology, positioning it as a scalable, future-proof model for smart home integration in rental housing.
• MAA (Mid-America Apartment Communities)strategicStrategic or Co-development Partner · 15 June 2026MAA, an apartment REIT, is deploying SmartRent's smart-home platform across its Sun Belt properties. This strategic deployment positions MAA's properties as more attractive to prospective tenants in the competitive apartment market through enhanced property connectivity and operational efficiency.
• SKBM Smart TechnologystrategicChannel Partner/ Reseller/ Distributor · 27 April 2026SKBM Smart Technology became the inaugural member of SmartRent's Value-Added Reseller program. The partnership targets small and mid-market rental housing owners and operators, leveraging SKBM's established sales team and industry relationships to address the broader US rental housing market of over 40 million units.
• Property Management System IntegrationscoreTechnology or Integration · 27 April 2026SmartRent integrates with all major property management systems including Yardi, RealPage, Entrata, and ResMan. These integrations enable seamless data flow, full visibility into PMS data, and maintain data integrity for customers.
• Morning ConsultmarketingStrategic or Co-development Partner · 24 September 2025Partnership for renter surveys and market research. SmartRent and Morning Consult conducted surveys of nearly 1,000 renters on energy management trends, finding 92% of renters consider reducing utility expenses important when selecting a home.
• Parks AssociatescoreStrategic or Co-development Partner · 10 June 2025Research partnership with Parks Associates producing industry research on smart energy savings in multifamily properties. Parks Associates released 'Growing Multifamily Value Through Smart Energy Savings' white paper finding 18-19% reduction in energy and water costs.
• Starwood Capital GroupstrategicStrategic or Co-development Partner · 4 December 2024Starwood Capital Group was the first deployment of Alloy Deadbolt+ with Apple Wallet integration, showcasing the smart lock with Apple Wallet key functionality at their property.

Scale indicators16 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Latch: Latch provides smart access control systems specifically designed for multifamily apartment buildings, including smart locks, keyless entry, and building management software. It is one of SmartRent's closest direct competitors in the multifamily smart access space, now operating as part of DOOR after a SPAC merger.
• ButterflyMX: ButterflyMX provides cloud-based access control and intercom systems for multifamily, commercial, and student housing properties. It competes directly with SmartRent's Alloy Access and Virtual Intercom products in the apartment access control market.
• RemoteLock: RemoteLock offers cloud-based access control software for residential and commercial properties, including smart locks and management platforms. It competes with SmartRent in providing managed access solutions for rental properties.

Broad incumbents

• Alarm.com: Alarm.com provides a SaaS platform for smart home and business security, serving security dealers and property managers. While broader than multifamily-specific, it competes in the connected property and smart home automation space with overlapping IoT and analytics capabilities.
• Vivint Smart Home: Vivint provides integrated smart home systems including security, energy management, and home automation primarily for single-family homes. While focused on owner-occupied residential, it competes in the broader smart home platform market with some multifamily exposure.
• Resideo Technologies: Resideo provides home comfort, security, and energy management solutions including Honeywell Home products. It competes with SmartRent in smart thermostats, leak detection, and home automation with a broader portfolio across residential and light commercial markets.
• Yardi: Yardi is a major property management software provider that integrates with SmartRent's platform. While not a direct smart home competitor, Yardi's expanding ecosystem of building IoT and smart apartment features creates competitive overlap with SmartRent's operations suite.
• SmartThings (Samsung): Samsung's SmartThings is a leading consumer smart home platform with broad device compatibility. While primarily consumer-focused, it competes in the underlying IoT platform space that SmartRent builds upon for multifamily deployments.

Emerging players

• BuildingLink: BuildingLink provides building management and resident communication software for residential properties including multifamily. It competes with SmartRent's Smart Operations Suite in work order management and resident services for property managers.
• Latchel: Latchel provides maintenance coordination and resident services software for property managers and multifamily operators. It competes with SmartRent's Work Management and Answer Automation products in the property operations software space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SmartRentdotcom
• Facebookfacebook.com/smartrentdotcom
• LinkedInlinkedin.com/company/smartrentdotcom
• Instagraminstagram.com/smartrentdotcom

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SmartRent