“Smart home tech has become a critical piece in today’s dedicated rental communities and the majority of renters are willing to pay an increased price for homes with integrated smart technology,” said Jeff Cline, CEO of SVN | SFR Capital Management. “With SmartRent’s daily operational process solutions, both SVN | SFR and single-family rental tenants will benefit through tenant technology automation and asset protection.”
As the BFR housing market alternative remains hot within commercial real estate’s (CRE’s) investment asset segments, SVN | SFR plans to acquire and aggregate approximately 35,000+ new construction BFR homes over the next 5-7 years, depending on economic conditions and tenant demand, through an initial capital raise of $12 billion in equity and debt capital, for eventual disposition at stabilization as a large-scale institutional rental home portfolio.
“Today’s operators and renters are looking for the modernization, optimization and convenience that technologies bring, and we’re pleased to partner with SVN | SFR to usher in the smart solutions era for their properties,” said Lucas Haldeman, CEO of SmartRent. “Implementing SmartRent’s hardware, software and monitoring tools will further empower SVN | SFR’s teams to focus on enhancing resident experience and satisfaction, all while boosting operational and financial efficiencies across communities.”
SmartRent’s suite of products and services promote an integrated, convenient and modern living experience to residents. Supported smart hardware includes, but is not limited to, keyless locks, Ring doorbells, switches, dimmers, plugs, lightbulbs, thermostats, voice assistants, along with leak, motion and door sensors. Prospective residents/tenants can also enjoy the ease of self-guided tours and can select to add monitoring services to their residences via Ring devices for added security.
