With energy consumption being one of the largest expenses in multifamily and student housing buildings, an effective energy management strategy is becoming increasingly important for property owners and operators. The responsibility of managing hundreds of HVAC units throughout a property can be a challenging task for onsite teams, but thanks to recent advancements in technology, property managers now have access to sophisticated IoT-driven energy management systems that makes it significantly easier to optimize HVAC efficiency and reduce energy costs.

Reducing Energy Consumption

One of the primary benefits of energy management systems is their ability to provide key insight to HVAC runtime activity throughout an entire building. By analyzing this energy data in real-time, onsite teams can remotely identify inefficiently performing equipment that may be wasting energy and causing an unnecessary increase in bills. Teams can leverage this data to take the necessary steps to optimize energy usage, prolong the life of HVACs, and substantially reduce maintenance expenses.

Predictive Maintenance

Energy management systems allow for the automatic, continuous monitoring of various smart devices and sensors within residences and common areas. Teams are immediately alerted to any risky conditions that are detected, whether it be an HVAC that has been running extensively or unusually high humidity levels, enabling them to identify potential maintenance issues before they become major problems. Proactively catching and addressing these kinds of issues is an effective way for property managers to avoid costly repairs.

Remote Monitoring and Control

Through a centralized platform, property managers have access to monitor and control energy usage entirely remotely – which is particularly useful when experiencing limited onsite staff or overseeing multiple buildings. For instance, teams can remotely adjust thermostat settings or implement daily setbacks from within the platform, allowing them to optimize energy consumption where necessary and ensure energy isn’t being wasted in vacant units. The ability for teams to make these adjustments from afar significantly reduces staff man hours and helps to streamline their workflows.

Increased Visibility, Improved Sustainability

Analyzing building-wide data on energy consumption and identifying any trends can play a significant role in helping property management teams decide how to effectively reduce energy usage and costs going forward. Additionally, implementation of energy management systems demonstrates a more environmentally conscious living environment for residents, and helps property operators to advance their ESG goals.

Compliance with Energy Regulations

In some jurisdictions, buildings are required to meet certain energy efficiency standards. Energy management systems can help property managers ensure that their buildings meet these standards and avoid penalties for non-compliance. What’s more, installation of such systems can qualify properties for various energy incentive programs and utility sponsored rebates, further reducing expenses for ownership.

IoT-driven energy management solutions, like TrustHab, are a valuable tool for property managers looking to reduce energy consumption, save money, and improve sustainability. By providing real-time data and analytics, these systems enable onsite teams to easily identify areas of waste and inefficiency, make informed decisions, and take proactive steps to optimize energy consumption. Ultimately, a substantial reduction in costs leads to increased property NOI.