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SmartRent.com
SmartRent.com was founded to provide smart-home technology and property-management software to large-scale rental operators.
SmartRent.com
SmartRent.com was founded to provide smart-home technology and property-management software to large-scale rental operators. Its platform integrates IoT devices — smart locks, thermostats, leak sensors — with a cloud dashboard that owners and managers use to remotely control units, schedule maintenance, and reduce energy costs. The company's revenue model is a mix of hardware sales and recurring software subscription fees. The firm serves multifamily property owners across the United States, with clients including major public REITs and private real-estate operators. Published case studies highlight deployments in luxury and mid-market apartment communities in Sun Belt markets such as Phoenix, Dallas, and Orlando. SmartRent also offers a tenant mobile app for package delivery and community access. In 2021, SmartRent merged with a SPAC sponsored by Fifth Wall, the real-estate-focused venture firm, which valued the combined entity at roughly $2.2 billion. The company trades on the New York Stock Exchange under the ticker SMRT. As a public company, SmartRent reports quarterly earnings and must balance growth-investment demands against margin expectations from public-market shareholders. SmartRent's structural differentiator is its focus on the 'build-to-rent' and institutional single-family-rental markets — a segment where property density is lower than in traditional apartment towers but where automation and remote management can reduce onsite staffing. Its technology acts as both an amenity for tenants and a cost-savings tool for owners, creating a dual-value proposition that competing property-software firms often split between separate products.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Scottsdale
Corporate office
Scottsdale, AZ, United States
Sector focus
Frequently asked questions
Who are SmartRent.com's typical customers?
SmartRent's primary customers are institutional owners and operators of multifamily apartment communities and single-family rental portfolios. This includes publicly traded REITs such as Camden Property Trust and private property-management firms. The company's platform is designed for properties with 100+ units where centralized control and maintenance efficiency offer operational leverage.
How does SmartRent.com generate revenue?
SmartRent generates revenue through two channels: hardware sales of smart devices (locks, thermostats, sensors) and recurring subscription fees for its cloud-based property-management software. The software subscription includes tenant-facing mobile apps, maintenance workflow tools, and analytics dashboards. As of its 2024 annual filing, subscription revenue accounted for roughly 40% of total revenue.
What investment stages did SmartRent.com's backers target?
SmartRent was primarily backed by venture capital firms specializing in real-estate technology (PropTech), with Fifth Wall as a lead investor through its SPAC vehicle in 2021. Earlier funding rounds included participation from Alpine Investors and other growth-equity firms. The SPAC merger provided an exit for those early investors, making SmartRent an example of venture-backed PropTech going public.
What markets does SmartRent.com serve beyond the US?
SmartRent's disclosed operations are concentrated within the United States. The company has not announced international expansion or significant presence in non-US markets. Its platform is designed for North American residential wiring standards and property-management practices.
What are the main competitors to SmartRent.com?
SmartRent competes against several property-technology firms including Latch (acquired by Latch Technologies), PointCentral, and IOTAS. Large property-software incumbents like RealPage and Yardi Systems offer adjacent smart-home integrations. SmartRent differentiates by providing both hardware and software as a single solution, rather than requiring customers to integrate multiple vendors.
Does SmartRent.com manufacture its own hardware?
SmartRent sources its hardware from contract manufacturers rather than producing devices in-house. The company designs the software and firmware, but the physical locks, thermostats, and sensors are manufactured by third-party electronics producers. This allows SmartRent to scale deployment without owning manufacturing facilities.
How has SmartRent.com performed financially since going public?
Since its 2021 SPAC merger, SmartRent has grown revenue from roughly $80 million in 2022 to an annualized run rate above $200 million by mid-2025. The company has reported net losses in each fiscal year as it invests in sales and product development, but gross margins have improved to approximately 50% as the subscription revenue base expands.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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