Entrata, a multifamily property management software provider serving more than 20,000 apartment communities, is taking on smart home technology. The Lehi, Utah-based company announced it has begun beta testing its SmartProperty apartment automation feature in Entrata Core. The new feature bridges the gap between property management software and smart devices by facilitating a way for properties to connect hardware such as thermostats, lights, locks and water sensors for multiple units to a central hub.
“No one can deny that smart home technology is in high demand, yet, no one has enabled a way for property management companies to leverage it to improve operations and harness the true revenue potential,” says Dave Bateman, Entrata CEO. “SmartProperty will bring apartment owners, managers, and residents to the forefront of the smart home revolution.”
According to a Coldwell Banker Smart Home Study done with CNET, more than 79 percent of Americans say smart home tech makes life easier and 57 percent claim it saves an average of 30 minutes a day.
Entrata SmartProperty will allow users to remotely manage the turn of units and will provide access to the critical information available from smart devices in a centralized location through the Entrata platform. It will allow users to manage the health of their property with critical performance data and automated triggers to eliminate human error and wasted time.
$10 to $65 More in Rent Per Unit
“A study by Entrata shows that an additional $10 to $65 in revenue per unit can be made by just installing the smart home hardware for the resident,” Bateman says. “SmartProperty is unique in that it will connect the hardware to the centralized property management software to maximize the revenue potential for the property management company.”
The SmartProperty announcement comes on the heels of the two-year anniversary of the general availability of Entrata Core, property management software for accounting, purchasing facilities and leasing data. Every element of the software was built in-house from the ground up to work together as one, seamless solution, under one login for its users.
“Our company has changed. Our list of employees, products, and clients has grown,” says Bateman. “But, our dedication to creating the most innovative, smartest property management software in the industry has not wavered since our beginnings almost 15 years ago.”