Centerspace × SmartRent

Centerspace reduced water damage 50% last year.

Across 55 properties in seven states, Centerspace saved an average of $133K per property. See the playbook.

✓ What Centerspace deployed across 12,000 units

✓ The ROI numbers that beat their own projections

✓ What this could look like on your portfolio

Talk to sales

Our team will walk through what SmartRent would save across your units, markets, and current loss numbers.

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*We only work with owners and managers with a minimum of 1,000 units at this time and do not offer solutions for short-term or individual rental units.

The story

One unnoticed leak is a five-figure problem.

Like most operators, Centerspace deals with the same realities that drive water damage claims everywhere:

A resident leaves for vacation and turns the heat off to save on the bill
A vacant unit sits between turnovers with the thermostat untouched
A water heater fails at 2 a.m. with no one in the building

Across 12,000 units in seven states, Centerspace decided to stop paying for it.

What they deployed

Sensors everywhere water runs.

69K+

Leak detectors

9K+

Smart thermostats

11K+

Smart locks

Sensors went everywhere water runs. Thermostats went in every unit, set to alert when vacant homes dropped below safe temperatures. The rollout happened in three phases, starting with a pilot in Minneapolis and expanding across the portfolio.

The leak sensors are critical in our markets, so we went all in. If it carries water and could leak, we put a sensor there.

Sue Picotte

SVP of Asset Management and ESG, Centerspace

The bigger picture

The smart home premium was the plan. The savings were the bonus.

Centerspace built a smart home premium into their underwriting model when they signed with SmartRent. That was the revenue case.

The savings stacked on top:

Water damage losses cut nearly in half across properties with detection data
Maintenance teams reclaimed 45 minutes per door on every turn with smart locks
Leasing teams got the first hour of every day back to focus on residents and prospects

That's just on the cash. It doesn't include the time savings, the efficiency savings, or the productivity increase. The total impact hasn't been fully quantified, but it has been significant.