Smart Devices and Guided Property Viewings
Founded in 2017, the startup business seeks to disrupt the real estate market by integrating smart devices into the process of buying a home as well as living in it. Since the inception of the company, investors including RET, Bain Capital, Spark Capital, and even Amazon's Alexa Fund have chipped in to support or partner with the business. According to Crunchbase, the smart home startup company has garnered over $101 million from investors.
"Our strategic partnership with and investment in SmartRent underscores our intense focus on implementing technology and innovation to streamline and enhance all aspects of the homebuilding and homebuying processes," said Eric Feder, President of LENX, the investment arm of Lennar’s real estate company.
Beyond simply offering a unified smart hub compatible with top smart home brands like Amazon Alexa and Google Assistant, the startup tech business uses smart devices to run self-lead guided tours for potential renters and homeowners.
Prospective buyers can simply download the app designed by the startup and set a viewing time that works for their schedules, even outside of regular business hours. A realtor doesn’t need to be present, as the app allows users to check in with ID verification and begin their tour at the scheduled time. The app offers other features as well, including an interactive map of the home to help buyers find their way around. Property managers receive notifications from the app when tours begin as well as other information useful to their leasing business, like the time spent in the unit.
Leaning Into a Growing Market
Market research expects the global smart home industry to value $135.3 billion by 2025. As companies like Amazon and Google continue to push smart home products, there are increasing opportunities for smart device applications in other sectors. SmartRent’s startup business is leveraging this opportunity to disrupt the real estate market in an innovative way.
About the Author
James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.