Utility management requires an in-depth familiarity with the implications of your business’s energy, waste, and water use statistics. Measuring the property’s and tenants’ energy use may help save costs by identifying potential areas of waste or malfunction early on. Using quality, measurable data may help property managers save time, effort, and money when making improvements.

The National Apartment Association found that, on average, utilities account for between 10 and 30 percent of a building’s operating budget. Utilizing utility management solutions is a useful starting point when analyzing ways to improve efficiency, conserve energy, and save costs. While reducing energy use is an obvious first step, this is far from being the only means through which efficiency may be improved. A significant portion of a property manager’s day is spent tracking tenant utility use and collecting rent payments. These property managers are also responsible for handling both urgent and regular issues related to the maintenance of the utility systems. One useful piece of advice for property management is to always be on the lookout for ways to improve utility management in every respect. This will lead to significant progress in the coming days.

The Repercussions of Centralizing Information

Many property managers are in charge of the utility management for many properties. They often keep track of everything by hand or in separate spreadsheets. These management systems make it difficult to gather all of the necessary information about a property in one place. Property managers may find it easier to compile historical portfolios after investing in a CMMS. Energy consumption, billing and collection records, and information on inspection and repairs may all be monitored in a CMMS. This information, when coupled with powerful analytics, gives building managers a great resource for quickly pinpointing problem spots. Large increases in energy use, which might indicate leaks or other issues, are one of the most common sorts of disruptions. But wait, there is more.

Predictive Monitoring To Keep One’s Head above Water

Installing sensors on utility infrastructure might provide real-time data to property managers at a very low cost. This enables continuous monitoring around the clock. Easily monitor conditions like temperature, pressure, vibration, and water level by establishing the acceptable ranges for each sensor. When a malfunction in a utility asset causes its data to diverge from its typical range, an alert is raised inside a centralized system.

Conclusion

Utilities management is an essential task for every business that cares about its bottom line, environmental impact, and productivity. If businesses monitor and control their energy use, they may identify areas of waste and implement changes that will reduce their energy consumption. Utility software may provide up-to-the-moment information on energy use, letting businesses improve their energy management via informed decision-making. In addition to helping businesses conform to energy-related regulations and standards, utility software may boost operational efficiency. Businesses of all sizes may benefit from investing in utility management software.