Company Announcements

Recent SmartRent survey of U.S. renters finds:

• 92% say cutting monthly utility costs is important when choosing a home.
• 63% saw utility bills rise last year; 35% of those faced hikes of more than $51 per month.
• Less than half say their property manager communicates well on energy use, and only 44% think their property manager cares about helping cut costs.

PHOENIX--(BUSINESS WIRE)--Sep. 24, 2025-- SmartRent, Inc. (NYSE: SMRT), the leading provider of smart communities solutions and smart operations solutions for the rental housing industry, today released the results from a recent survey focused on energy management trends across rental housing. Conducted in partnership with Morning Consult, the survey found that renters increasingly prioritize energy efficiency and cost-saving technologies when choosing a home.

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Rising utility costs are shaping renter decisions: 92% prioritize cutting monthly bills, 63% experienced a utility hike in the past year and 76% expect costs to rise again. Energy-efficient features like smart thermostats and appliances influence leases, while high energy costs and lack of in-unit control are top deal breakers. Renters are even willing to pay more if energy savings keep total spending steady.

As utility costs continue to rise – electricity alone is up 34% since 2020 – 92% of respondents said reducing their monthly utility expenses is very or somewhat important when choosing a place to live. Sustainability is also a strong motivator, with 75% of renters stating that it’s important to them to reduce their environmental impact.

A Financial Imperative for Renters

More than 63% of survey respondents reported experiencing a utility bill increase over the last year, with 35% of those who saw an increase reporting hikes of more than $51 per month. An additional 76% of respondents are very or somewhat concerned about their utilities increasing over the next year, adding a layer of economic stress that they’re eager to mitigate.

“The survey showed that renters are keenly aware of their utility spending, and they’re generally aware of the technologies that can help to reduce their energy consumption,” said Frank Martell, President and Chief Executive Officer of SmartRent. “It was also clear that they expect property management companies to help limit their utility bills through the use of smart home solutions and energy-efficient property technologies. Meeting that demand is essential to attract renters, drive resident satisfaction and retention, and build trust between renters and management teams.”

Communication and Control are Key Differentiators

Only 48% of survey respondents feel their current property manager effectively communicates about their unit’s energy usage, and just 44% believe their property manager effectively communicates and cares about helping residents reduce utility costs.

Property managers have an opportunity to acknowledge and accommodate renter preferences through the implementation of smart home solutions and other technologies designed to enhance resident control over their utility usage. The survey identified several energy-related technologies that respondents said could influence their decision to sign or renew a lease, including:

• Energy-efficient appliances – 69%
• Smart thermostats – 58%
• Online energy trackers – 51%

The absence of energy-efficient technologies has a similar influence on renter decision-making. Top deal-breakers revealed in the survey include:

• The inability to control in-unit heating and cooling — 69%
• High energy costs — 68%

The bottom line is that energy efficiency is a feature renters are willing to pay for, with 32% of survey respondents saying they would be willing to pay more for rent if reduced utility costs meant their overall monthly spending remained the same. An additional 33% said they would pay more in rent if the unit was energy efficient and offered consistent savings, providing property managers an avenue to offset implementation costs.

To learn more about how SmartRent solutions reduce utility spending and enable greater visibility into energy usage, visit www.smartrent.com.

Methodology: Morning Consult interviewed 995 renters in the United States between July 26 – 28, 2025. The Margin of Error for the total sample is +/-3 at the 95% confidence level. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on gender, educational attainment, age, and region.

About SmartRent

Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a leading provider of smart communities solutions and smart operations solutions to the rental housing industry. SmartRent’s end-to-end enterprise ecosystem powers smarter living and working in rental housing by automating operations, protecting assets, reducing energy consumption, enhancing the resident experience and more. The company’s differentiators - purpose-built software and hardware, and end-to-end implementation and support - create an exceptional experience, with 15 of the top 20 multifamily operators and millions of users leveraging SMRT solutions daily. For more information, please visit smartrent.com.

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Media Contact
Amanda Chavez - Vice President, Corporate Communications
media@smartrent.com

Investor Contact
Kelly Residorf - Head of Investor Relations
investors@smartrent.com

Source: SmartRent