RICHARDSON, Texas–(BUSINESS WIRE)–RealPage, Inc., a leading global provider of software and data analytics to the real estate industry, today announced the launch of Smart Water, the first solution in the multifamily industry that leverages submeter technology to significantly reduce the cost of water management for both residential units and common areas.
Smart Water allows property managers, owners and operators to act on potential leaks and manage water consumption across the entire property in real time. In initial trials, the solution is estimated to save properties approximately $67 per unit annually by mitigating leaks that range from slow and hard-to-detect to catastrophic. In addition, the solution enhances resident satisfaction and retention by reducing related costly repairs and promoting sustainable living.
According to a 2020 EPA WaterSense report, 90% of all communities have leaks, and 30% of all water consumption is attributed to wasted water from undetected leaks. In addition, the report also indicated that an irrigation system with one leak just 1/32 of an inch in diameter can waste roughly 6,300 gallons of water, costing up to $95 per month.
“One of our clients saved 750,000 gallons of water in the first three months across 47,000 units. And a water retrofit saved a single Denver property 6,000,000 gallons of water, or the equivalent of $130,000 annually,” said Mary Nitschke, VP of Sustainability at RealPage. “The savings in both water consumption and costs are enormous. Our Smart Water solution offers an economical solution that has immediate and long-lasting returns on investment.”
The Smart Water solution includes four main components: submetering and meter data, water management web application, resident engagement through the STRATIS Resident OneApp, and real-time facility alerts. Submetering and meter data includes IoT water sensors that capture real-time water data to identify leaks and abnormalities in common areas and residential units. The water management web application provides daily consumption data to understand water usage from the portfolio level to the submeter level. The STRATIS Resident OneApp engages residents with historical consumption views, the ability to set cost goals, and a gamified Green Ranking Score that reveals how they consume water and how they compare with other residents. And with real-time facility alerts, onsite staff can quickly correct issues and mitigate risk after receiving work orders for leaks. For more information about Smart Water, visit https://www.realpage.com/smart-water-management/.
STRATIS is part of the RealPage Smart Buildings initiative offering a seamless Sidewalk to Sofa™ solution for residents and property managers to navigate through all building access points with one app. It also enables control of devices such as thermostats to enhance sustainability and resident comfort. The Smart solutions under STRATIS create a sustainable living environment for greater resident satisfaction, higher retention, and ultimately, more attractive yields for property managers.
RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency in asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 19 million units worldwide from offices in North America, Europe and Asia. For more information, visit RealPage.com.