What Does Amazon’s Investment In SmartRent Mean For The Future Of Apartment Living?
SmartRent is a smart home automation platform that is designed for renters and property managers. SmartRent recently started receiving investments from Amazon Alexa Fund. Besides Amazon, the company has received funding from Boardwalk, Essex Property Trust, Real Estate Technology Ventures, Starwood Capital Group, and GID.
According to SmartRent, the companies will develop software and hardware for multifamily housing environments and turn them into connected communities.
It has already started offering voice control and smart lock features to renters and property managers. The company focused on this sector since the multifamily housing market did not receive much interest from the smart home tech. This is a great way of creating a modern and more secure renting experience.
SmartRent features in the Alexa Fund Portfolio as well. This is a great idea to integrate two markets to create wider use of the applications. SmartRent is planning to work with other companies to extend their reach.
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