ESG, otherwise known as Environmental, Social and Governance, is a set of standards for companies to operate in a socially and environmentally responsible manner. Investors and federal regulators review ESG criteria when screening their investments for compliance. ESG is increasingly important in multifamily and student housing, and is commonly becoming a requirement for investment capital. With this being the case, many property owners and operators are prioritizing deployment of an IoT-driven sustainability solution as a way to help them achieve their ESG goals.

So how can the multifamily and student housing contribute to reducing environmental impact?

Most ESG initiatives relating to the real estate industry have focused on addressing the environmental impacts of property development and operations. Sustainability-focused investments, such as energy management solutions, have proven successful in helping properties improve the efficiency of their HVAC systems, lighting, and plumbing fixtures. One of the main goals for properties is to reduce risk and increase efficiency with energy and water utilities. Additionally, for new construction properties in particular, achieving LEED standards is often a priority.

Many people anticipate that the long-term value in ESG will come from reducing operating expenses and provide opportunity for potentially higher resale prices. For buildings that are implementing ESG initiatives at a property that they plan to sell in the future, focusing on achieving good scores will play a significant part in increasing value and financial profit.

At TrustHab, we have built a sustainability solution that delivers significant benefit to owners and operators that are looking to advance their ESG goals. For example, one of our solutions includes energy management. We leverage smart devices to analyze HVAC runtime activity throughout buildings to help property managers identify any units that may be inefficiently performing, and therefore unnecessarily increasing their energy costs. We provide them with the insight to actionable data so that they can take the steps required to optimize energy consumption throughout their buildings, which is especially useful in vacant residences and common areas. In addition, our platform also features a Leak Detection system that helps onsite teams conserve water and mitigate the risk of water damage.

In short, here are just a few of the ways the TrustHab Solution can help achieve ESG goals:

• Optimize energy consumption throughout your buildings
• Reduce risk and increase efficiency with energy and water utilities
• Maintain low operational costs and deliver increased value for residents through lower monthly expenses 

If you’re interested in learning more about how we can help increase sustainability throughout your community, feel free to reach out to us at contact@trusthab.ai to schedule a demo of the platform.

To receive our next blog post directly in your inbox, sign up here…