The Towbes Group Deploys SmartRent Solutions to Modernize the Resident Experience

Rhea-AI Summary

SmartRent, Inc. (NYSE: SMRT) announced the implementation of its access control and IoT solutions at 2,500 apartment homes in The Towbes Group portfolio. The Towbes Group plans to modernize the resident experience at all its multifamily residential communities by leveraging smart home technology provided by SmartRent. The implementation will begin at six communities this year, with installation scheduled at six more properties in the first quarter of 2024.

Calif. company implements smart access controls and IoT for resident convenience and operational efficiency

SCOTTSDALE, Ariz. & SANTA BARBARA, Calif.--(BUSINESS WIRE)-- SmartRent, Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), the leading provider of smart home and property operations solutions for the rental housing industry, today announced the rollout of its access control and IoT solutions at 2,500 apartment homes in The Towbes Group portfolio.

Headquartered in Santa Barbara, Calif., The Towbes Group has more than 60 years of experience in fully integrated real estate investment, development and property management. The Towbes Group plans to leverage smart home technology to modernize the resident experience at all of the multifamily residential communities it manages, and diligently researched its options before selecting SmartRent. Implementation will begin at six communities this year, with installation scheduled at six more properties in the first quarter of 2024.

“Today’s renters expect a certain level of sophistication and technological convenience in their homes, and SmartRent’s proven solutions are the best way for The Towbes Group to stay ahead of that growing demand,” said Jay Bardessono, vice president of information technology with The Towbes Group. “We assessed all options on the market and selected SmartRent, not only because of its robust features and user-friendly interface, but also due to its seamless integration capabilities and the potential it offers for improving operational efficiency."

SmartRent’s access control solution is designed to optimize the user experience. When deployed strategically, access control can enhance both the day-to-day living experience for residents and make on-site teams more efficient. Seamless yet exclusive access to various points throughout the community demonstrates an attention to detail that directly impacts lead-to-lease conversion through self-guided tours, along with resident retention and overall building integrity.

SmartRent’s fully customizable IoT systems enable operators to capture the intrinsic NOI of each asset. Community-specific IoT is essential to seamless operations, energy savings and property protection. SmartRent IoT creates a symbiotic relationship between smart solutions like access controls, climate control, lighting and plugs, humidity and leak detectors, and parking systems to create the most efficient ecosystem possible.

“Leading operators like The Towbes Group have identified the opportunity to provide an innovative experience for residents while also optimizing operations through smart home technology,” said Lucas Haldeman, SmartRent CEO. “Smart access control takes apartment living to the next level, and smart home systems merge multiple smart technologies into a collective, coordinated effort that drives operational efficiency. We’re proud to partner with operators like Towbes to keep pushing the industry forward.”

About SmartRent

Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart home and smart property solutions for the multifamily industry. The company’s unmatched platform, comprised of smart hardware and cloud-based SaaS solutions, gives operators seamless visibility and control over real estate assets, empowering them to simplify operations, automate workflows, benefit from additional revenue opportunities and deliver exceptional site team and resident experiences. SmartRent serves 15 of the top 20 multifamily owners and operators, and its solutions enable millions of users to live smarter every day. For more information, please visit www.smartrent.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231212213382/en/

Media Contacts

Amanda Chavez - Senior Director, Corporate Communications

media@smartrent.com



Investor Contact

Brian Ruttenbur - Senior Vice President, Investor Relations

Mobile: 480-371-2828

investors@smartrent.com

Source: SmartRent

FAQ

What did SmartRent announce regarding The Towbes Group?

SmartRent, Inc. (NYSE: SMRT) announced the rollout of its access control and IoT solutions at 2,500 apartment homes in The Towbes Group portfolio.

What is the plan of The Towbes Group regarding smart home technology?

The Towbes Group plans to modernize the resident experience at all its multifamily residential communities by leveraging smart home technology provided by SmartRent.

How many communities will the implementation begin at this year?

The implementation will begin at six communities this year.

How many more properties are scheduled for installation in the first quarter of 2024?

Installation is scheduled at six more properties in the first quarter of 2024.