Bilt Acquires Livly, Partners with Collective Residential

Bilt, a company known for its rewards program for renters, announced on October 26, 2023, its acquisition of Livly, a smart-building technology provider. This strategic move aims to enhance Bilt's offerings by integrating Livly's capabilities in property management and smart-building tools directly into its platform. Concurrently, Bilt has entered into a partnership with Collective Residential, a real estate developer specializing in large-scale apartment communities. The combined efforts of Bilt, Livly, and Collective Residential are designed to create a more connected living experience for residents, bridging the gap between apartment buildings and their surrounding neighborhood economies.

Livly's technology focuses on streamlining building operations and resident engagement. Its platform typically includes features such as digital access control, package management, resident communication tools, and the ability to integrate with various smart home devices. By acquiring Livly, Bilt gains direct control over these essential building management functionalities, which can now be offered as part of Bilt's broader ecosystem. This integration is expected to provide property managers with more efficient tools and residents with enhanced convenience and connectivity within their living spaces.

The partnership with Collective Residential, which develops and manages significant apartment portfolios, provides Bilt with a substantial avenue for deploying its integrated solutions. Collective Residential's focus on creating vibrant community living environments aligns with Bilt's objective of connecting residents not only within their buildings but also to the local amenities and businesses. This synergy is intended to foster a more dynamic urban living experience, where residents can more easily discover and engage with their neighborhoods through Bilt's platform, potentially leveraging Bilt's rewards program for local purchases.

Bilt's business model has historically revolved around enabling renters to earn rewards on rent payments, a significant monthly expense for millions. The acquisition of Livly and the partnership with Collective Residential represent a significant expansion beyond this core offering. It signifies Bilt's ambition to become a more comprehensive platform for urban living, encompassing not just financial rewards but also the operational and experiential aspects of apartment life. The company anticipates that this integrated approach will create greater value for property owners, managers, and residents alike, by offering a more cohesive and technologically advanced living environment that fosters community engagement and local economic participation.