SmartRent Inc. has released a market analysis highlighting the strategic importance of investing in smart technology for the multifamily housing sector. The report emphasizes that with U.S. multifamily vacancy rates dropping to a record low of 5%, the rental market is stabilizing and presents a prime opportunity for tech investment. Demand for rental units is outpacing supply, with 147,000 net units absorbed in the first quarter of 2025, despite a slowdown in new construction due to rising insurance costs and labor challenges. The analysis also points to the increasing importance of tenant retention, with overall apartment retention rising to 55.3%. Smart technology is identified as a critical factor in enhancing resident experience and reducing turnover costs. Key features such as smart thermostats, app-based access control, and leak detectors are in high demand as renters seek homes with modern conveniences and enhanced control. SmartRent suggests that investing in scalable smart systems is essential for operational excellence and long-term resilience in the current market.
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