From collecting rent to showing apartments, property managers can do more online than ever before. In most cases, they rarely need to set foot on a property, as video security systems and smart home technology make it easy to monitor and manage a property from virtually anywhere. Smart water management is one element that can save property managers time and money, while ensuring that a property stays safe and free of flood damage.
What is Smart Water Management?
Smart water management uses smart home technology, including sensors and apps, to detect excess water usage caused by drips or leaks, as well as floods. Water conservation is important for many reasons, including sustainability and cost control. In many states and cities, landlords aren’t permitted to charge tenants for water use. That means to control costs, it’s important to keep an eye on water use in individual units as well as across the building as a whole.
Old-Fashioned Ways to Monitor Water Use
Prior to smart water management technology, landlords and property managers could monitor water use by comparing bills from month to month and year-over-year to identify spikes that could indicate drips or leaks. They can also compare water bills between families of the same size to determine if tenants are using more than is typical for a family their size. Property managers can also view water gauges at a quiet time, when water usage is minimal, to detect leaks.
Why Water Management Will Take Smart Buildings to the Next Level
Buildings equipped with smart home technology have a better, more accurate, and easier way to gauge water use and detect leaks. Smart water management can alert property managers via an app to potential leaks or excessive water use so they can act quickly to reduce water bills, save money, and reduce operating costs to increase net operating income (NOI).
Smart Water Management Saves Property Managers and Tenants Time, Money and Headaches
Few things can cause more costly damage to an apartment than a flood. And, unlike damage caused by fire, not all damage caused by a flood is covered by the landlord’s insurance policy or by the tenant’s renters’ insurance.
For instance, damage caused by gradual leaks that can seep into carpeting or floors and cause mold and mildew may not be covered. Some policies also may not cover “resulting damage,” so if hardwood floors swell due to a burst pipe, the insurance policy may cover the damaged plumbing but not the ruined floors.
The best way to avoid these headaches is to catch water damage caused by leaks or burst pipes as early as possible. Smart water management systems use sensors to detect water and flooding and immediately alert property managers to take the appropriate steps to stop further damage.
How Smart Water Management Features Work
Through leak detection sensors, flood sensors, and hardware and software designed to monitor water use, smart water management can help conserve water and reduce water bills for property managers. As with smart home thermostats and lighting systems, smart water management systems allow residents and property managers to control water use remotely.
Most importantly, smart water management can detect problems before they create lasting issues within the home. Water leaks can cause everything from high water bills to mold and mildew growth, leading to breathing problems and illness in residents. With Smart Water, if property managers notice that there is a leak, they can shut off the water via the app the same way they might adjust the temperature remotely.
Smart Water Management Can Create Lasting Change
Because smart water systems connect your water usage data to the Internet of Things (IoT), they can also serve as a means of data collection. This can be important because it may help water utilities make changes to encourage conservation and promote water affordability.
Make Smart Water Management Part of Your Smart Home Ecosystem
Smart water technology may not be as “sexy” as voice-activated whole-home sound systems or as coveted as smart locks and security systems. But as part of your smart home automation features, it’s an unsung hero that offers peace of mind to property managers and tenants alike.
A building with smart water management features will likely attract conscientious, environmentally conscious residents who care about themselves, their neighbors and fellow community members, and the environment. By adding smart water management to the smart home automation features in your multifamily property or single-family rental, you can attract and retain high-quality tenants while reducing water costs and reducing the risks of water damage.
If this sounds like a win-win-win for you, your tenants, and the world’s environment, reach out to PointCentral.com to learn more today.
Dawn Allcot is a full-time freelance writer and content strategist specializing in commercial real estate and smart home technology. Her vast list of writing credits includes Crestron, the Home Technology Association and LoopNET.
Sources
Coverage.com – When to make a water leak homeowners insurance claim
TheWaterScrooge.com – 5 Signs Your Tenants Are Using Excessive Water
WWDMag.com – What Is Smart Water Technology?
