Net Operating Income is the magic word in student housing. Responsible management of this number is what all property owners are looking for, since it is the key to valuation. Some costs can never be avoided, but they can be managed. One of the biggest among these is energy costs.
The visibility and control that TrustHab provides leads to key savings in 4 areas:
Whether your property has a capped, included, or fully resident paid utility scheme, managing heating and cooling costs for occupied units provides tremendous value. Since 50% of energy costs come from heating and cooling, and gains here are significant, TrustHab provides both automated and manually adjustable features to do exactly this. The experience of remote control for residents also gives them one more compelling reason to sign the lease.
Vacant units, even if they are unoccupied for a few days or weeks at most, can become a phantom cost on a property. Assuring that these units are set at an efficient temperature is vital to controlling these invisible costs. Oftentimes it is a moment of neglect, such as a painter or other vendor setting the A/C to 65 on a hot summer day, and then forgetting to set the temperature back. This could easily lead to hundreds of dollars in additional costs on a unit that is also not generating revenue. TrustHab gives property managers the tools to spot and eliminate this waste.
Oftentimes the first sign of trouble in HVAC systems is a panicked resident calling the front office to complain that they have no heating or cooling. This can lead to costly emergency repairs that don’t give property managers the time to plan ahead and manage costs. TrustHab includes analytics and alerts that can inform managers of units with suspected problems in advance. This allows them to schedule maintenance staff more efficiently and solve small problems before they become a crisis.
Regular maintenance is well known to improve efficiency of HVAC systems. However, how do you know which systems are running efficiently and which need attention? Instead of ignoring the issue or setting a schedule that may or may not be optimal, TrustHab can provide you with data and analytics to spot which systems need attention. This ensures that all of your HVAC systems are running at optimal efficiency and provides clear energy cost reductions across your property.