The MDU market for smart home gear just got a big boost.
RealPage, Inc. (NASDAQ:RP), a Richardson, Texas-based provider of software and data analytics to the real estate industry that recently acquired MDU specialist StratisIoT, announced the nationwide availability of its CommunityConnect Fleet Management program for Google Nest Thermostats. In total, RealPage has access to 19 million tenants worldwide.
The Fleet Management program enables automated, real-time, seamless syncing with property management systems, customizable operator energy control over unoccupied units and support for property-wide deployments.
The new program enables residents to benefit by getting access to thermostats that offer energy efficiency and remote-control capabilities. MDU owners and operators benefit by automating control of the settings and energy usage in unoccupied units from one central dashboard.
Fleet Management was co-developed as a pilot program by STRATIS (recently acquired by RealPage) and Google Nest in Q4 2019 and included thermostats installed in 1,500 units owned by Greystar, the nation’s largest apartment operator. The successful pilot illustrates the high consumer demand for smart apartments as it garnered 90 pre-occupancy leases in the first four weeks of lease-up, reduced energy usage and increased rental premiums.
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“Together, Google Nest and CommunityConnect Fleet Management create a truly helpful home, providing value at every level for owners, operators, and residents,” said Felicite Moorman, co-founder of Stratis.
“We understand that smart apartments are quickly becoming a standard for tech-savvy renters; this solution deploys a simple building-wide network to provide future-proof value to the holistic building infrastructure. The relationship with Google Nest creates a seamless connected home solution for each room in each unit throughout the building, and across portfolios.”
“Creating physical spaces is expensive and difficult to do. I can’t add a second gym or a pool anywhere I want to within my properties. However, changing the way residents interface with their current living space is a much more cost-effective approach to adding incremental value,” said Zach Aliberti, Real Estate Development Manager at Urban Property Developers, Inc. “I think it’s a no-brainer – thoughtful developers want to be differentiating themselves through innovation instead of losing prospective renters to competitors who already do.”
CommunityConnect by RealPage offers an integrated managed service that accelerates the deployment of smart access, smart apartments and community-wide, ultra-high-speed Wi-Fi in one mobile application for residents and single pane of glass views for operators, from Sidewalk to Sofa. Combined with Google Nest’s market recognition and reach, support for Google Nest Fleet Management can enable cost savings, energy efficiency and increased revenue for multifamily and student housing property owners and operators worldwide, according to the company.
Founded in 1998, RealPage currently serves over 19 million units worldwide from offices in North America, Europe and Asia.