A huge water bill is damaging enough — and it’s only a fraction of the true total cost of unmanaged water. Most properties have some form of unmanaged water – which isn’t only wasteful, it also impedes achieving sustainability goals, drains budget, and puts properties at risk of catastrophic leaks and water damage. Having access to comprehensive, real-time water data keeps property owners and managers in the know about which properties are using more water than others, which ones are using too much, and how they compare to similar properties. Managing water use with real-time data helps protect buildings from risks, achieve water savings and ESG goals, and improves property NOI (net operating income).
Using Real-time Water Data to Help Achieve ESG Goals
Implementing a flow monitoring and leak detection service provides real-time water use data and lets property owners establish a baseline of water usage across their buildings. The collected data offers insight into which areas are using more water than necessary and then sends real-time alerts about abnormal usage. This lets property owners and managers make changes to improve water efficiency, instead of letting issues continue unchecked for days or weeks at a time.
From there, they can set water savings and ESG goals and continue to track the water data to see how they’re progressing. Without access to real-time water data, water will continue to be quietly wasted, leading to surprise large bills and derailing efforts to achieve sustainability goals.
Eliminating Water Waste to Boost Property NOI
Tracking and managing water use with real-time data also improves property NOI. NOI represents the revenue from the property, minus operating expenses – demonstrating the value of a property’s earning income by showing what the profits are after the costs to maintain it are removed.
Your water usage might be bringing down your property NOI if water bills are steeper than they should be, in comparison to similar properties or others within your portfolio. Having access to water data lets you see where you have water waste that might be adding unnecessary costs to your overall property expenses.
Addressing Water Issues to Minimize Property Risks
Real-time water use visibility prevents leaks, breaks, and other issues from going unnoticed from days or even months at a time. Water data shows where a certain area is starting to use more water than the established baseline – whether this starts slowly and gradually climbs or happens suddenly and skyrockets.
With this visibility, the issue can be addressed immediately to prevent leaks and breaks from continuing – which quickly puts properties at risk of significant structural damage and problems like asphalt erosion, flooding, mold, weakened foundation, wood rot, and more.
The power of real-time water data is that it gives you total visibility of your water use, from either an individual property or portfolio of properties. This helps protect buildings from risks and damages, achieve water savings and ESG goals, and improve property NOI.
WaterCompass is a leak monitoring and water use analytics service that uses non-invasive high resolution flow monitoring devices, which provide real-time water data visibility, use analysis, and alerts and notifications. With WaterCompass, the HydroPoint team keeps an eye on abnormal water usage and sends notifications as soon as anomalies are spotted. Property managers, facilities managers, and sustainability professionals rely on WaterCompass to stay on top of water use and eliminate property damage, unnecessary costs, and water waste.
Find out more about WaterCompass and how it’s helped other organizations.