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Maximize Efficiency During Peak Rental Season with IoT Solutions that Empower Student Housing Managers

August 5, 2024|7 Minutes

As the peak rental season approaches, student housing property managers are preparing for one of their busiest periods of the year. To handle this particularly challenging time more efficiently and stay ahead of potential challenges, adopting advanced technologies like the Internet of Things (IoT) can offer a substantial advantage.

This article presents five key strategies to help student housing property managers navigate the upcoming rush with greater ease, focusing on how IoT solutions can be leveraged to streamline turnover processes, optimize resource allocation, and boost operational performance.

1. Remote Monitoring and Management

IoT devices deliver robust capabilities for remote monitoring and management of property aspects such as security, environmental conditions, water leaks detection, and energy usage. For student housing property managers, this means they can oversee unit conditions and address any issues from a central location, without needing to be physically present at each site. IoT smart locks provide remote access control, enhancing safety and enabling an immediate response to any lock-out incidents. IoT sensors monitor for water leaks and track conditions like temperature and humidity, ensuring that units are maintained in optimal condition and alerting managers to any issues that need attention. Additionally, IoT energy management systems can remotely monitor and adjust property-wide energy consumption, helping to further reduce costs and ensure that utilities are functioning at optimal efficiency.

2. Streamline the Move-In Process

IoT-based access control systems streamline the move-in process by offering keyless entry through mobile apps, which eliminates the need for physical keys and minimizes the time spent on distribution of access codes. This smart technology not only simplifies the logistics for new residents, but also enhances security measures by allowing property managers to keep track of building-wide access history and monitor entry points in real-time. During peak move-in periods, such as the start of a new academic year, this helps alleviate congestion and wait times by facilitating quicker entry and reducing manual check-ins. IoT access control systems also provide the advantage of remote management, enabling property staff to easily grant or revoke access without needing to be on-site. The ability to set time-limited access codes is particularly useful for coordinating with contractors who require temporary access to complete tasks in units before new residents arrive.

3. Improve Energy Efficiency

With increased occupancy leading to higher HVAC usage, optimizing property-wide energy consumption becomes crucial for controlling costs. IoT-based energy monitoring solutions play a key role by continuously tracking HVAC runtime and performance, enabling staff to easily identify inefficiencies and target areas where improvements can be made. Beyond just monitoring, smart thermostats and lighting systems can be programmed to adjust settings based on real-time data, such as occupancy patterns and time-of-day usage. For instance, sensors can automatically reduce heating and cooling in unoccupied units or dim lights in less frequented areas, ensuring energy is used efficiently and only when necessary. In addition to significantly reducing utility bills, this supports green building initiatives by minimizing the property’s carbon footprint. Moreover, insights to these detailed analytics can guide the development of long-term energy-saving investments.

4. Timely Resolution of Maintenance Issues

IoT solutions can significantly streamline maintenance processes by automating real-time alerts for various issues, such as water leaks, HVAC inefficiencies, or concerning humidity levels. These automatic notifications reduce the dependency on residents to report problems, allowing property staff to identify and address issues proactively. This approach also enables maintenance personnel to prioritize urgent repairs and allocate resources more effectively, ensuring timely intervention and minimizing downtime. By catching problems before they escalate into emergencies, properties can prevent expensive after-hours service calls, avoid costly repairs, and lessen potential disruptions to residents. Additionally, visibility into recurring issues and trends can aid onsite teams in developing targeted preventive maintenance strategies.

5. Utilize Actionable Data for Strategic Planning

The valuable data generated by IoT devices can be utilized to significantly refine property management practices and drive informed decision-making. By systematically collecting and examining data on energy usage, maintenance issues, and resident behaviors, onsite teams can easily identify trends and patterns that reveal areas for improvement. For example, analyzing property-wide energy consumption can highlight opportunities for cost savings through focused upgrades, such as more efficient HVAC systems or energy-efficient lighting. Similarly, detailed insights into maintenance patterns can forecast future issues and optimize scheduling for repairs. Understanding student behaviors and preferences helps create tailored amenities and services that improve their living experience, which can increase in lease renewals rates and ultimately reduce vacancy duration. Leveraging this actionable data empowers operators to improve building performance and make tactical investments aligned with the property’s goals and resident expectations.

Ensuring a smooth and successful student housing peak rental season requires thorough planning and the implementation of effective management practices. The strategies discussed in this article — ranging from remote monitoring and streamlined move-ins to enhanced energy efficiency, timely maintenance, and actionable data analysis — highlight how IoT technology can facilitate a seamless transition for both new and returning residents while simplifying operations for property managers.

TrustHab’s IoT-driven building management system provides student housing properties with a powerful toolkit designed to empower onsite teams and alleviate some of today’s most common property management challenges. See the cost-savings for yourself: read our collection of client success stories to discover why the nation’s leading student housing operators have chosen partner with TrustHab!