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The past 12 months at SmartRent were defined by platform expansion, customer impact and disciplined execution. Throughout 2025, SmartRent delivered new product innovations, deepened customer collaboration and strengthened its leadership team, reinforcing our position as a trusted technology partner for multifamily operators.SmartRent President and Chief Executive Officer Frank Martell said it best: “We’re extremely proud of the strides we’ve taken as a company over the past year, as well as the solutions development that has taken place. By staying focused on disciplined execution and customer outcomes, we expanded the reach and daily impact of our platform while helping operators manage increasingly complex portfolios. We’re energized by our momentum and confident in
Industry Impact at Scale
In 2025, SmartRent expanded the reach and daily value of its platform across the rental housing industry, helping operators navigate labor constraints, operational complexity and rising cost pressures.
SmartRent’s flagship Smart Apartments solution is now in 870,000 homes nationwide, representing 10.5% growth year over year. We also saw a 13.24% increase in monthly active resident users, growing from 680,000 last year to more than 770,000 in 2025. The impressive growth illustrates the industry’s buy-in and recognition of SmartRent solutions as the preferred means to drive operational efficiency and NOI.
Other key year-over-year metrics include:
44,518 Smart Operations users supporting daily operations throughout 2025
770,000 monthly active residents, a 13.24% increase from 2024
747,000 Self-Guided Tours completed nationwide, averaging 2,100 tours per day.
Over 55 million tasks created through the SmartRent platform, a 27% increase year over year
1.8 million work order codes issued, saving maintenance teams approximately 90,000 hours in key management
14,100 hours saved through secure access interactions
More than one million leak alerts, helping customers avoid $30-50 million in property damage
This expanding scale and engagement underscore the increasing role SmartRent plays in daily property operations for our customers across their portfolios.
Collaboration and Innovation at Its Core
We were thrilled to celebrate a landmark moment in 2025 with the formation of our Product Advisory Council, consisting of senior executives from some of the industry’s largest and most innovative ownership and management organizations. Created to further strengthen collaboration with our customers, the council brings together influential voices and serves as a strategic forum to preview ideas and gather input on product features, functionality and priorities.
From a product innovation standpoint, we introduced SMRT IQ, a conversational AI layer designed to simplify access to operational data and insights. Built specifically for multifamily operators, SMRT IQ allows users to ask natural language questions and receive real-time answers powered by live data from connected devices and systems. By lowering the barrier to analytics, SMRT IQ accelerates decision-making and helps teams unlock greater value from their technology investments.To further support centralized operating models and address ongoing labor challenges, we expanded our Work Management features to further innovation and customer success. New features introduced in 2025 include:
Teams, which enables work to be assigned at the group level to support shared-service and centralized maintenance models.
Smart Launch, an AI-powered assistant that accelerates workflow discovery and simplifies platform navigation.
Triggers, which automates task creation for events such as move-out inspections, reducing administrative burden on on-site teams.
SmartRent also enhanced its energy management capabilities in 2025, introducing tools designed to reduce energy waste, lower utility costs and extend HVAC system life - areas of increasing importance as operators address sustainability goals, insurance requirements and operating margins.
In addition, we expanded its ecosystem through enhanced integrations with Funnel, Knock, RentCafe and CRMIQ, making it easier for customers to connect SmartRent into their existing technology stacks and accelerate time to value.
Leveraging New Leadership
As the SmartRent platform continued to scale, we strengthened our executive leadership team to support its next phase of growth.
In June, Frank Martell was appointed SmartRent President and Chief Executive Officer. He was already a member of SmartRent’s Board of Directors and has served on the Board’s Audit and Nominating and Corporate Governance Committees since 2024. Martell is charged with advancing the company’s vision and expanding its market presence, with a clear focus on delivering measurable value for customers and shareholders. He brings more than 30 years of executive leadership experience and previously served as President and CEO of loanDepot, Inc., and in senior leadership roles at CoreLogic, including CFO, COO and CEO.Joining Martell on the leadership team is new Chief Transformation Officer Pankaj Bansi, a proven business modernization leader with over 30 years of experience at the intersection of real estate and technology. Bansi, who previously served in senior leadership roles at Cotality (formerly CoreLogic), is spearheading SmartRent’s enterprise transformation strategy, driving scalable processes and operational excellence to support the Company’s next phase of growth. Sangeeth Ponathil also joined the leadership team as Chief Information Officer. Ponathil brings more than 25 years of experience guiding enterprise technology strategy and most recently served as Senior Vice President of Technology and Head of Product and Engineering at loanDepot, Inc. He is leading SmartRent’s technology roadmap moving forward.To support growing customer demand and deepen market coverage, we also strengthened our go-to-market leadership in 2025. Derek Lessard was recently appointed as Vice President of Sales, with Jennifer Glover assuming the role of Vice President of Sales Development. Christen Ackerman was appointed Vice President of Enterprise Sales, and Anita Malik joined the team as Senior Vice President of Client Services.
All Eyes on the Roadmap Ahead
SmartRent remains committed to building on the successes of the past year, and we look forward to leaning on our new leadership in 2026 to continue scaling solutions and further establish ourselves as the leading provider of operations technology in multifamily. With the newly formed Product Advisory Council serving as a strategic forum for input on industry priorities, we believe we are positioned to increase insights and customer connection, ensuring that solutions optimize efficiency and solve critical pain points for operators. This collaborative approach will actively inform our technology roadmap, validate concepts and identify additional opportunities.
Working alongside influential voices in multifamily, while riding an internal infusion of energy and expertise, we are excited to usher in 2026. SmartRent is paving our own path forward, with a clearly defined roadmap designed to drive increasing value for owners, operators, residents and investors.