Case Study: Centerspace cuts water damage and boosts ROI with SmartRent

Centerspace cuts water damage losses by nearly 50% with SmartRent

Centerspace, a real estate investment trust operating in cold-weather markets, faced significant challenges with costly water damage from frozen pipes and inefficient, time-consuming lock and key management. To address these operational inefficiencies and property risks, they partnered with vendor SmartRent to implement a suite of smart home products including smart locks, thermostats, and leak detectors.

The solution from SmartRent provided keyless entry, remote temperature monitoring, and continuous leak detection. The results were substantial, including a nearly 50% year-over-year reduction in water damage losses at monitored properties and significant time savings for staff. SmartRent's implementation also detected and mitigated 1,446 leaks, and the overall return on investment surpassed the company's initial projections.

Centerspace