Does Enertiv Serve Multifamily
A lot of those who own and operate multifamily portfolios take one look at Enertiv and assume that the platform only serves commercial property types like office, retail and industrial.
That couldn’t be further from the truth.
In fact, the platform has been adopted by some of the leading multifamily portfolios, including AvalonBay and WinnCompanies.
Here at Enertiv, we are asset agnostic.
However, that doesn’t mean that the platform is one-size-fits-all.
Multifamily Has Unique Needs
Owning and operating multifamily real estate presents unique challenges not faced in other property types (in this context, we’re including senior housing and student living in multifamily).
One of the most challenging aspects is the sheer amount of individual assets to keep track of.
Thousands of units under management means thousands of refrigerators, washers and dryers, washing machines, etc.
Combine that with high turnover of on-site staff and a high reliance on third party vendors and most portfolios have simply given up on keeping track of things, instead resolving to fix issues once they pop up and replace equipment on an ad hoc basis.
Ultimately, from an operational perspective, there’s very little transparency into what’s happening or where to expect the next issue.
And then there’s ESG
From an energy standpoint, multifamily owners and operators are between a rock and a hard place. Regulators are demanding the same types of carbon reductions from multifamily as they are from offices, but there is simply much less control.
Tenants are generally directly metered by the utilities and base building equipment (if there is any) is often left on 24/7 because there is no way of knowing what tenants’ schedules will be and there is therefore no building management system in place.
When it comes to real-time monitoring, there can often be savings found in optimizing set points, but that is limited compared to the scheduling and startup/shutdown savings available to office buildings.
How Enertiv Serves Multifamily Portfolios
Enertiv has tailored an approach to address multifamily’s unique needs.
This starts with highly granular digitization, where Enertiv is performing on-site surveys to create a full equipment inventory in the cloud.
This includes all critical equipment and infrastructure, as well as in-unit appliances. These inventories are built out with digitized nameplate information, images, locations, and documentation, all available in the cloud or by scanning an asset tag in the field.
From here, routine inspections, preventative maintenance, and work orders are digitized to ensure compliance and eliminate redundant data entry into other systems.
In this process, there may be opportunities to include real-time monitoring on critical equipment such as ventilation systems and boilers. Enertiv can deploy these “power ups” to alert operators of issues before tenants even become aware and identify energy-saving optimizations.
Finally, Enertiv combines asset tracking, maintenance data and equipment-level energy data to supercharge capital planning. This not only reduces surprises and unexpected capital costs associated with operating a portfolio, it provides modeling and a roadmap towards more efficient assets over time.
Case Studies
Of course, seeing prior success never hurts. Check out these case studies from Enertiv’s current multifamily clients.
Predictive Maintenance in Luxury Multifamily
At 6:45 pm on Saturday, Enertiv fired a notification that an elevator was idling during a high activity period, an indication that there was an impending issue. The next morning, the elevator actually broke down, proving that the initial alert had been predictive.
6 Month Payback in Multifamily Asset
To maximize asset value by eliminating waste in operating expenses and increasing tenant satisfaction, our client piloted the Enertiv OPS platform in two of their multifamily residential buildings over a one year period.
Data-Driven Preventative Maintenance in Multifamily High Rise
Property managers worked with Enertiv’s client success team to prioritize and strategically implement optimizations . Improving maintenance practices helped ensure that critical systems are functional and allowed property managers to focus more time on their tenants
20% Energy Savings Through Data-Driven Retrofits
Commercial real estate landlords are approached all the time with proposals to retrofit their properties with more energy-efficient equipment. Data captured on an equipment-level by Enertiv can prioritize these investments and “ground truth” proposals against empirical cost and consumption data.
Lowering Repair Cost by 90% in Luxury Multifamily
Understanding that it’s not enough to simply provide data, Enertiv’s client success team worked with all stakeholders involved to get the project across the finish line. The BAS was repaired for a cost of $29,000, which paid for itself in less than a month and increased NOI by $89,000
25% Decrease in Elevator Maintenance Costs
In the first month after the initial analysis was provided to the client, elevator entrapment fell 75% and the total amount of time reporter by the maintenance vendor fell 25%, even while preventative maintenance time reported increased nearly 300%.
