Student housing properties have always faced a range of energy-related challenges, including high energy consumption, rising energy costs, and the need for sustainability. For older student housing properties, these challenges are compounded by inefficient heating and cooling systems and outdated building technology. However, with the increasing adoption of the Internet of Things (IoT), property operators are finding effective ways to automate risk mitigation and easily identify cost-saving opportunities throughout their buildings.

IoT is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, and sensors that enables these objects to connect and exchange data. Property managers can leverage this actionable data to efficiently monitor and control energy consumption, reducing costs and increasing sustainability.

One of the key advantages of IoT driven solutions in student housing properties is their ability to provide real-time monitoring of energy consumption. This allows property managers to see where energy is being used, easily identify any waste, and implement the necessary changes to reduce consumption. For instance, smart thermostats in combination with a centralized platform can be used to monitor the temperature and humidity of individual residences, ensuring that heating and cooling systems are not being overused. This can result in significant energy savings, as heating and cooling are typically the largest energy expenses in a student housing property.

In addition to reducing energy consumption, IoT can also help to increase the efficiency of heating and cooling systems. By continuously monitoring HVAC runtime activity in residences, property managers can easily pinpoint any units that seem to be running excessively or inefficiently. When those units are identified, staff can either dispatch the maintenance team to proactively service the HVAC, or remotely implement changes to the thermostat setpoint in order to optimize performance. This not only extends the life of expensive equipment, but also provides a more comfortable living environment for residents.

Another important advantage of IoT is its ability to automate energy-saving processes. Through a centralized platform, property managers can remotely define thermostat setpoint limits, create schedules, and implement the necessary setbacks to help maximize energy consumption in residences and common areas. This also provides onsite teams with an efficient way to maintain the temperature in any vacant units.

With many property operators now looking to advance their ESG goals, IoT can also help to increase the sustainability of student housing communities. Through monitoring energy and water consumption and identifying areas where it can be reduced, property managers can implement more environmentally friendly practices. Green living communities are typically more appealing to students, who are increasingly concerned about sustainability.

To conclude, the adoption of IoT driven solutions in student housing buildings brings a range of benefits to operators and property management teams. These include reduced energy and maintenance costs, increased operational efficiency, automated risk mitigation, and streamlined staff workflows – all while ensuring that residents are provided with a comfortable, efficient, and sustainable living environment.