Bilt, the rental rewards platform, acquired Livly, a smart-building technology company, and partnered with Collective Residential Management to expand its footprint across multifamily properties. The move pairs property management expertise with digital resident engagement tools designed to drive tenant retention and operational efficiency.
Livly provides IoT and smart-home technology that apartment operators integrate into units and common areas. The platform tracks resident behavior through connected devices, automation systems, and energy management tools. Bilt layers its rewards ecosystem on top, giving tenants points for rent payments, lease renewals, and on-property spending that convert to travel, retail, and lifestyle rewards. The combination creates what Bilt calls a "neighborhood economy" that ties residents to their buildings and local merchants.
Collective Residential Management operates more than 150 properties across the western United States, including complexes in California, Colorado, and Arizona. The partnership gives Bilt direct access to tens of thousands of units under single management control, a critical advantage for scaling adoption. For Collective, integrating Bilt's rewards platform and Livly's smart-building tech provides a competitive edge in tenant acquisition and retention during a period when multifamily operators face elevated vacancy rates and pricing pressure.
The acquisition and partnership address a core challenge in multifamily housing. Turnover costs landlords 5% to 10% of annual revenue per unit vacated. Tenant satisfaction programs, rewards systems, and smart-building amenities demonstrably reduce churn. Bilt's platform captures behavioral data through rental payments and rewards redemption, providing property managers and owners with insights into resident preferences and engagement levels.
Smart-building technology itself has matured but struggled to achieve adoption outside luxury and Class A properties. Livly's main value lies not in the IoT hardware alone but in integration with property management software and resident-facing apps. Combining that with a tangible rewards program removes friction. Residents see immediate value in earning points; operators see retention metrics improve.
The residential rewards market remains fragmented. Bilt competes against property management platforms like AppFolio and Entrata, which offer lighter-touch engagement features. It also faces emerging competitors building vertical solutions for specific property types or geographies. However, few platforms combine smart-home functionality with a national rewards network the way Bilt now does after this acquisition.
For tenants, the deal means access to rewards systems that rival credit card programs, but tied directly to rental payments and property engagement. For landlords and property managers, especially those aligned with Collective, it means a turnover-reduction tool with measurable ROI. For Collective Residential specifically, the partnership positions its 150-plus properties as tech-forward destinations capable of competing against larger, branded multifamily operators.
The timing reflects broader trends in multifamily. Rents have moderated from pandemic peaks. Occupancy rates remain below historical averages in many markets. Operators increasingly invest in technology and resident experience to justify pricing and reduce vacancy. Bilt's combination of rewards, smart-building control, and behavioral analytics addresses that need directly.