A real-time energy management solution…what can it do for your property?

In today’s IoT-driven world, many properties are implementing connected technologies to drive optimal building performance through understanding, managing, and automating how their energy is used. While there are many ‘smart building’ solutions available to property managers, one of the main challenges for owners and operators is understanding which solution would be most beneficial for them.

So what’s the idea behind an energy management solution?

Properties leverage a robust, cloud-based reporting software to monitor, automate, and optimize how their building uses energy and performs. They utilize a variety of connected devices (sensors, thermostats, light switches, etc.) to push key information back to a centralized platform, providing management teams with insight into energy data and analysis on property-wide equipment performance. These real-time monitoring capabilities essentially transform a property’s energy data into actionable insights.

Some of the main reasons a property chooses to invest in an energy management solution include;

• Reduce costs associated with utilities and maintenance by addressing common sources of energy waste, such as inefficient HVAC systems running excessively – especially in vacant units.
• Minimize risk by proactively responding to abnormal conditions within residences – the minute they’re detected. In turn, this helps keep service calls within normal business hours.
• Enhance budget planning. Real-time equipment monitoring enables staff to anticipate any unit breakdowns so they can better assist asset management teams in planning for potential capital expenditures.
• Simplify staff workflows by empowering property staff to rapidly diagnose an issue prior to entering a unit – thereby reducing time to resolution. Save on man-hours with routine equipment check-ups being done remotely.
• Analyze historical data and trends to detail why certain equipment-related issues occurred, which is an effective predictive maintenance strategy that allows teams to prioritize which issues to focus on first.

In a nutshell, an effective energy management solution offers continuous, remote equipment monitoring that provides staff with greater insights and data visualization to a property’s overall operational efficiency. This smart technology helps teams identify trends and uncover building optimization opportunities, enabling operators to make informed data-driven decisions and investments.

Certain solutions are geared toward specifically enhancing the resident experience, while others are purpose-built more for the property management side of things. Either way, it’s important to understand the features provided by each so you can effectively decide which solution would be most beneficial for the individual needs of your property.

If you’re considering investing in an IoT-driven solution, reach out to us today to learn how the TrustHab platform has successfully helped properties reduce costs and increase property NOI. You’ll even see ROI in as little as 9-months… ask us how!

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