SmartRent's Whitepaper Reveals $3.4 Billion in Energy Savings for Multifamily Properties

SmartRent's whitepaper with Parks Associates reveals nearly 20% energy cost savings in multifamily properties through smart technologies, with potential annual savings of $3.4 billion for operators. Smart home packages transform utility spending into cost savings, boosting NOI and property appeal. The whitepaper showcases the evolution of smart technologies for energy management, disaster mitigation, and labor cost optimization.

SmartRent, Inc. (NYSE: SMRT), a leading provider of smart communities solutions and smart operations solutions for the rental housing industry, has released a whitepaper in collaboration with Parks Associates. The whitepaper, titled "Growing Multifamily Value Through Smart Energy Savings," reveals significant energy and water utility cost reductions of nearly 20% in multifamily communities equipped with integrated smart technologies [1].

The report, released on June 4, 2025, highlights how multifamily operators are facing escalating operational pressures, including rising expenses and stringent local ESG requirements. The whitepaper provides timely insights and actionable strategies for achieving substantial financial and operational efficiencies through the adoption of smart energy solutions [1].

According to data from Parks Associates, multifamily properties equipped with smart home packages have seen a real reduction in energy and water costs of 18%-19%, compared to the average expected reduction of 9%-12% from consumer-grade smart devices [1]. On a broader scale, the American Council for an Energy Efficient Economy (ACEEE) estimates that multifamily properties could save an estimated $3.4 billion annually in total utility costs by adopting smarter energy strategies [1].

The whitepaper also explores the evolution of smart technologies, from consumer-grade products to integrated IoT solutions and real-time dashboards. Innovations such as smart thermostats, lighting and electrical outlets, humidity sensors, hubs, and leak detectors can reduce energy consumption, mitigate disaster-related damage, and lower labor costs [1].

Furthermore, the whitepaper underscores the marketability of smart home implementations as a significant performance driver. Renters and investors increasingly prioritize energy efficiency and environmental responsibility. A proactive approach to energy management can enhance property appeal and drive operational savings and eco-friendly responsibility [1].

The benefits of energy efficiency in multifamily properties extend beyond utility savings. SmartRent's platform, enhanced with AI-powered intelligence and energy optimization capabilities, can help operators make informed decisions to reduce utility waste, cut costs, and support ESG goals [2]. The introduction of SMRT IQ, an AI-powered intelligence layer, streamlines data access and expedites property insights, transforming utility spending into profound cost savings [2].

Multifamily communities currently navigating significant market pressures, including rising energy prices, shifting rental demand, and increasing state-level ESG reporting requirements, can benefit from strategic investments in integrated IoT platforms. These platforms can streamline compliance, enhance property appeal, and significantly boost operational performance [1].

The whitepaper, "Growing Multifamily Value Through Smart Energy Savings," is available for download and provides actionable insights for multifamily operators looking to reduce expenses, boost NOI, and maintain compliance [1]. For more information about SmartRent, visit SmartRent.com.

References:
[1] https://www.businesswire.com/news/home/20250604239986/en/Parks-Associates-and-SmartRent-Whitepaper-Dissects-the-Multi-Billion-Dollar-Impact-of-Energy-Savings-in-Multifamily
[2] https://www.businesswire.com/news/home/20250605408035/en/SmartRent-Evolves-its-Platform-With-AI-Powered-Intelligence-and-Energy-Optimization-Capabilities