IOTAS Acquired by ADT
IOTAS is a small business founded in 2014 that specializes in smart living solutions for the real estate industry, particularly in multifamily and apartment settings. Recently acquired by ADT, the company offers a connected living platform that integrates with various smart devices and property management systems to enhance resident experiences and operational efficiencies.
Company Overview
IOTAS operates as a connected living platform tailored for smart apartments. Founded in 2014, the company is headquartered in Portland, Oregon, and employs a small team of 15 individuals. IOTAS specializes in integrating Internet of Things (IoT) technology into the real estate sector, focusing on multifamily housing and apartments. The company's solutions aim to enhance the living experience through smart home technology, predictive analytics, and energy savings.
Smart Home Solutions
IOTAS provides a comprehensive suite of smart home solutions designed for multifamily properties. The platform integrates with various smart devices, including thermostats, locks, leak sensors, and motion sensors. IOTAS offers turn-key solutions that include smart locks, community access, voice control, lighting, and leak detection. The user-friendly mobile app allows residents to manage their smart home features remotely, enhancing convenience and control.
Integration with Property Management Systems
IOTAS offers a platform that seamlessly integrates with leading property management systems such as Yardi and RealPage. This integration facilitates operational efficiencies and enhances the management of smart apartments. The company also provides a white-labeled iOS and Android resident app, allowing property managers to offer customized solutions to their tenants while maintaining brand identity.
Impact on Property Operations
Properties utilizing IOTAS technology have demonstrated significant operational advantages. These include an average increase in rent premiums by 8%, reduced operational and utility costs, and improved resident satisfaction. The technology also contributes to a 59% higher renewal rate compared to baseline figures. Additionally, IOTAS helps properties save approximately $11,000 per incident reported through its risk mitigation features.
Acquisition by ADT
In a strategic move to enhance its offerings, IOTAS has been acquired by ADT. This acquisition is expected to bolster IOTAS's capabilities in providing smart home solutions and expand its reach within the real estate industry. The partnership with ADT aligns with IOTAS's mission to deliver innovative technology solutions for smart living.