In the summertime, the question of how to conserve energy across a property is at the top of mind. With smart thermostat vacant unit control, property managers can automatically maintain optimal temperatures for the most energy efficient settings.
The main issue with vacant unit temperature control is the difficulty of physically checking each unit to adjust the temperature. It would make sense to turn off all power in an unoccupied unit, but various property and maintenance staff enter the unit for necessary repairs and adjust the thermostat during that time. Multifamily turnover, can cost about $1000 per unit and even above $3000, includes costs from inefficient and unnecessary energy consumption from vacant units. Even with low national multifamily vacancy rates around 5.25-5.75% this year, those costs can add up.
With Smart Energy enabled through the STRATIS Management App, property managers can control all vacant unit (and amenity and common areas) thermostats and automatically set it at the environmentally optimal temperature for energy efficiency from one app. No more physically adjusting each thermostat! This technology provides relief from the heat with solutions for both comfort and the net operating income (NOI).
Especially in the summer months with record-breaking hot temperatures, properties and residents can face multiple times the typical energy cost. Vacant unit control is beneficial for slashing energy usage and costs. In addition, STRATIS is conducting groundbreaking demand response research through the National Renewable Energy Lab’s (NREL) Wells Fargo Innovation Incubator. Demand response programs reduce peak electricity demand from the consumer side and generate revenue.
IoT devices and smart apartment technology provide multiple opportunities to increase NOI across the property and portfolio through automation and greater insights into usage data.
Want to learn more about Smart Energy? Sign up for the upcoming webcast on Thursday, August 26, 2021 at 1:00 PM ET, “The Whole Enchilada: The Smart Energy Approach to Multifamily Whole Building Management,” with RealPage® Vice President of Sustainability, Mary Nitschke, and Smart Energy Product Manager, Carol Schmitt. They will discuss Smart Energy and how to focus on what matters most to you and your properties.
STRATIS®, a RealPage Company, creates smart apartments and intelligent buildings and is the only platform of its kind built for the complexities of multifamily and student housing. STRATIS is installed worldwide across the U.S., in Japan, the UK, EU, and Latin America. STRATIS now serves hospitality, retail, and small to mid-size commercial, as well. STRATIS is an Inc. Magazine “Fastest Growing Company in America” and a Top Ten Entrepreneur Magazine “Best Company in America.” STRATIS was recently acquired by RealPage to enable CommunityConnect, a more connected lifestyle, and unleash hidden yield through new revenue streams.