Dynamic Touring Technology Continues to Reshape the Way Prospective Residents Experience Rental Properties

SmartRent, Inc. (NYSE: SMRT) (“SmartRent” or the “Company”), the leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today announced the one millionth property tour conducted through its comprehensive Self-Guided Tours solution.

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A SmartRent survey of 1,004 U.S. renters conducted in September of this year by Morning Consult revealed crucial self-guided touring trends. (Graphic: Business Wire)

The milestone tour occurred at Metro on First, a luxury community by Equity Residential located in Uptown Seattle. Equity is among the top Self-Guided Tours users on the SmartRent platform, joined by Lennar, BH Management, Venterra Realty and others. SmartRent’s dynamic touring technology is currently live at thousands of communities nationwide.

“Self-guided touring took off during the pandemic out of necessity. Today, it is entrenched in the fabric of the rental housing operations, helping property managers attract and accommodate more prospects and close more leases,” said Chief Technology Officer Isaiah DeRose-Wilson. “It’s important that renters have flexible touring options based on their needs - a self-guided option is key for those who prefer to tour at their own pace, on their own schedule and unaccompanied by a leasing agent. We appreciate the opportunity to meet this need in the industry, and look forward to seeing how self-guided touring will continue enhancing the experience for renters who want this option while giving on-site teams time back in their day.”

Properties using SmartRent’s Self-Guided Tours solution see on average nearly 20 scheduled tours per available unit per month, enabling on-site associates to continue assisting current residents and conducting other community functions without needing to drop everything to accommodate an impromptu tour. SmartRent data shows that most self-guided tours (92%) take less than five minutes to schedule, allowing communities to show their homes to more visitors. Also, while most tours are requested for either Saturday or Sunday, when leasing offices are often closed, self-guided touring enables property managers to schedule tours even when the leasing office isn’t staffed.

US Renter Touring Preferences

A SmartRent survey of 1,004 U.S. renters conducted in September of this year by Morning Consult revealed crucial self-guided touring trends:

• 58% of renters tour three or more properties before making a decision.
• While self-guided touring appeals to all age demographics, 70% of Millennial and Gen Z renters express interest in self-touring options.
• Renters in the Midwest region (76%) are the most interested in self-guided touring, though even the least interested region, the Northeast, still reported 66% interest.
• Around one-third (33%) of renters ranked the ability to tour a rental “at my own pace” among their top three touring priorities.

Even when touring autonomously, prospective renters still expect a full-service experience, and SmartRent’s Self-Guided Tours solution’s interactive features cater directly to those preferences.

SmartRent’s Self-Guided Tours offering also leverages other smart solutions — including access control, thermostats and lighting — to create an optimal tour experience. Smart access controls provide prospects with temporary digital credentials for select community entrance points, homes, common areas and amenities to customize the tour process. Smart thermostats and lighting create the perfect climate and ambiance during tours to best position the property for lease conversion. Operators can remotely control smart home settings in vacant units to limit utility spending while tours aren’t in progress. Additionally, prospects can schedule tours even more easily through an answering service integration while saving site teams time.

For more information about SmartRent self-guided touring and other smart solutions, visit smartrent.com.

About SmartRent

Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart communities solutions and smart operations solutions to the rental housing industry. SmartRent’s end-to-end enterprise ecosystem powers smarter living and working in rental housing by automating operations, protecting assets, reducing energy consumption, enhancing the resident experience and more. The company’s differentiators - purpose-built software and hardware, and end-to-end implementation and support - create an exceptional experience, with 15 of the top 20 multifamily operators and millions of users leveraging SMRT solutions daily. For more information, please visit www.smartrent.com.

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