As winter approaches, property managers are preparing their properties and looking for ways to manage rising energy costs. Effectively managing energy use across multifamily properties is key to reducing operational expenses. Smart property technology can simplify this process, offering cost savings while extending the lifespan of essential hardware like HVAC systems.
Here we explore how adopting smart technology—such as advanced HVAC systems and water management solutions—can help property managers achieve significant energy savings in multifamily properties this winter.
Smart Thermostats: Precision Control and Cost Savings
One of the most straightforward yet effective tools for winter energy management is the smart thermostat. With this technology, residents can easily control their property’s temperature remotely via an app, ensuring they use only the energy they need.
For property managers, smart thermostats offer additional control, particularly between move-in and move-out periods. When a unit is vacant, managers can remotely manage temperatures—adjusting higher or lower to save costs depending on climate or to protect the property’s pipes in colder temperatures when necessary. Managers can also adjust temperatures for property tours or the arrival of new residents, enhancing comfort without expending unnecessary energy usage while a unit is vacant. Smart thermostats can even integrate with property management systems (PMS) to automate heating schedules for vacant units, minimizing the need for manual intervention and enabling significant automated savings.
Intelligent HVAC Systems
Intelligent HVAC systems are especially beneficial in multifamily settings, considering the wear and tear these critical, high-cost units experience during winter.
Beyond regulating temperature, these advanced HVAC systems provide real-time data analytics, helping managers spot inefficiencies or potential issues before they escalate. For instance, if a unit detects abnormal energy use or reduced performance, it can alert managers to schedule maintenance, preventing costly breakdowns.
HVAC Analytics: Ensuring Longevity over Usage Reduction
For many property managers, especially in multifamily properties where residents cover their own energy costs, the priority lies in extending the lifespan of the HVAC system rather than reducing energy usage in occupied units.
HVAC analytics can provide valuable insights on system performance, allowing managers to detect early signs of wear or malfunction that could lead to major repairs or replacements if left unaddressed. By proactively monitoring component health, property managers can schedule targeted maintenance to prevent unexpected breakdowns and maintain optimal system efficiency. This approach not only protects the investment in HVAC hardware but also ensures consistent comfort for residents without the need for potentially disruptive repairs.
Smart Water Management: Preventing Costly Damages
While HVAC and thermostats play a direct role in energy management, smart water management solutions contribute to overall cost savings and operational efficiency. With water sensors embedded near water sources, property managers are automatically alerted to leaks. With the Smart Water Valve+Meter, leaks automatically trigger shutoff valves avoiding costly water damage and maintenance teams are promptly notified of the issue.
During winter, when pipes are prone to freezing, these smart solutions safeguard properties against hardware failures, saving managers time and money while boosting efficiency and improving resident satisfaction.
Beyond Cost Savings: Resident Satisfaction and Sustainability
Implementing smart property technology not only reduces energy costs but also enhances resident satisfaction. By maintaining efficient, well-kept heating systems, residents experience greater comfort. Additionally, with growing interest in sustainability, offering energy-saving, eco-friendly solutions appeals to environmentally conscious tenants.
Smart technology also enhances the appeal of properties, making them more attractive to potential residents. Features like app-controlled thermostats and automated systems add convenience, giving residents more control and flexibility over their energy use—a valuable asset in today’s competitive rental market.
By integrating smart property technology, multifamily property managers can effectively control energy usage, boost operational efficiency, and provide a comfortable living environment for their residents.
Consider investing in these intelligent solutions this winter to drive multifamily energy savings and optimize property management.
Want to find out more on streamlining your business with multifamily technology? Read Mike Branam’s thoughts in Multifamily and Affordable Housing Business.
