SmartRent launches Alloy Deadbolt+ with Apple Wallet integration, enhancing access efficiency and management

Rhea-AI Summary

SmartRent (NYSE: SMRT) has launched Alloy Deadbolt+, a smart lock designed for rental housing with Apple Wallet integration, debuting at a Starwood Capital Group property. The new technology allows residents to add their keys to Apple Wallet and access their apartments and common areas with just a tap of their iPhone or Apple Watch, eliminating the need for physical keys.

The system features Express Mode for quick access without unlocking the device, Power Reserve for use when iPhone needs charging, and a 90-minute fire rating. Property managers can securely manage access and grant temporary entry to visitors and service providers. The technology aims to reduce rekeying costs and enhance property value while complementing existing platforms like self-guided touring and mobile maintenance.

Positive

• Launch of innovative Alloy Deadbolt+ product expanding smart lock portfolio
• Partnership with major real estate player Starwood Capital Group
• Potential cost reduction in key management and rekeying expenses
• Enhanced property value through advanced access control technology

Negative

• None.

Insights

Tech Expert

The launch of Alloy Deadbolt+ with Apple Wallet integration represents a meaningful technological advancement in the rental property management space. The product addresses key operational pain points by eliminating physical key management costs and enhancing security through encrypted digital access. The integration with Apple's ecosystem, including features like Express Mode and Power Reserve, demonstrates sophisticated engineering that could drive adoption.

The technology's 90-minute fire rating and robust security features, including encryption and Find My app integration, make it a compelling solution for property managers. The partnership with Starwood Capital Group, a major player in real estate investment, provides significant validation and could accelerate market penetration. This product launch could strengthen SmartRent's competitive position in the smart community solutions market and potentially drive recurring revenue through implementation and maintenance services.

Market Research Analyst

This product launch is strategically significant for SmartRent's market position. The rental housing industry has been gradually digitalizing and secure, convenient access control is a key differentiator for property managers. The partnership with Starwood Capital Group, which manages approximately 100 billion in assets, provides an excellent reference customer and distribution channel.

The timing is opportune as property managers are increasingly focused on operational efficiency and modern amenities to attract and retain tenants. The elimination of physical key management could lead to meaningful cost savings for large properties. With SmartRent's existing market presence and Starwood's implementation, this product could drive substantial revenue growth through both new installations and upgrades to existing properties.

Debuting at a Starwood Capital Group property, Alloy Deadbolt+ is a hands-free smart lock designed specifically for rental housing

SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- SmartRent, Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), the leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today announced the launch of Alloy Deadbolt+, a smart lock tailored specifically to the rental housing industry. Debuting first at a Starwood Capital Group property, Alloy Deadbolt+ expands on the security, functionality and convenience of smart locks through its integration with resident keys in Apple Wallet for a seamless resident experience. Residents with Alloy Deadbolt+ locks can easily and securely add their resident keys to Apple Wallet and unlock their apartment unit or key-protected common areas with a simple tap of an iPhone or Apple Watch — eliminating the need to use a traditional, physical key.

Residents with Alloy Deadbolt+ locks can easily and securely add their resident keys to Apple Wallet and unlock their apartment unit or key-protected common areas with a simple tap of an iPhone or Apple Watch — eliminating the need to use a traditional, physical key. (Photo: Business Wire)

To add a resident key in Apple Wallet, residents can simply tap their iPhone or Apple Watch to the reader to unlock. It’s easy, convenient and secure. Once a resident key is added to Apple Wallet, residents can hold their device near the Alloy Deadbolt+ lock to seamlessly access secured areas. With Express Mode, residents don’t need to unlock their device to use their resident key in Apple Wallet. If an iPhone needs to be charged, residents can still use their device to access their apartment and common areas with Power Reserve.

“Alloy Deadbolt+ enhances the way we think about secure access, providing a straightforward and reliable solution for both residents and property managers,” said SmartRent Chief Technology Officer Isaiah DeRose-Wilson. “Through this integration with resident keys in Apple Wallet, we’re removing the friction from everyday moments—whether it’s carrying groceries or simply arriving home, residents can access their homes without the hassle of a physical key. Alloy Deadbolt+ not only simplifies operations for our customers but also aligns perfectly with the evolving needs and preferences of residents.”

Alloy Deadbolt+ enables both residents and property managers to securely manage access, enhancing property value and making the home experience more appealing to renters. Like the previous iteration of Alloy Deadbolt, Alloy Deadbolt+ allows residents and property managers to grant access to homes for friends, family members and service providers without compromising security. The smart access control technology reduces rekeying and key management expenses, and complements platforms like self-guided touring and mobile maintenance. Alloy Deadbolt+ also features a 90-minute fire rating, adhering to essential fire safety regulations.

Starwood Capital Group, the first organization to implement Alloy Deadbolt+, already appreciates the impact of next-generation access control.

“SmartRent understands the challenges faced by real estate managers and continues to push the evolution of access control technology in the industry,” said Andreas Panza, head of US Asset Management at Starwood Capital Group. “People always have their phones with them, and through Alloy Deadbolt+ and Apple Wallet they always have hands-free access to their keys, as well. The Apple Wallet integration establishes seamless access for residents, and it’s changing the way they navigate properties.”

Resident keys in Apple Wallet take full advantage of the privacy and security features already built into iPhone and Apple Watch. Data is encrypted and protected against tampering and theft, and Apple cannot see when and where a resident uses a resident key in Apple Wallet. If their iPhone or Apple Watch is misplaced, the owner of the device can promptly use the Find My app to lock the device and help locate it.

To learn more about Alloy Deadbolt+ and SmartRent’s other solutions, or to join the growing list of communities investing in smart technology, visit smartrent.com.

About SmartRent

Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart communities solutions and smart operations solutions to the rental housing industry. SmartRent’s end-to-end enterprise ecosystem powers smarter living and working in rental housing by automating operations, protecting assets, reducing energy consumption, enhancing the resident experience and more. The company’s differentiators - purpose-built software and hardware, and end-to-end implementation and support - create an exceptional experience, with 15 of the top 20 multifamily operators and millions of users leveraging SMRT solutions daily. For more information, please visit smartrent.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241204639456/en/

Media Contact

Amanda Chavez - Vice President, Marketing and Communications

media@smartrent.com

Investor Contact

Kelly Reisdorf - Head of Investor Relations

investors@smartrent.com

Source: SmartRent

FAQ

What is SmartRent's (SMRT) new Alloy Deadbolt+ product?

Alloy Deadbolt+ is a smart lock system that integrates with Apple Wallet, allowing residents to access their apartments and common areas using their iPhone or Apple Watch instead of physical keys.

Which major property group is first implementing SmartRent's (SMRT) Alloy Deadbolt+?

Starwood Capital Group is the first organization to implement SmartRent's Alloy Deadbolt+ smart lock system.

What are the key features of SmartRent's (SMRT) Alloy Deadbolt+?

Key features include Apple Wallet integration, Express Mode for quick access, Power Reserve for low battery situations, 90-minute fire rating, and the ability to grant temporary access to visitors and service providers.