Blog & News

Maximizing Profitability During High Vacancy Periods with TrustHab

April 11, 2024|4 Minutes

Whether your property is multifamily, student housing, military housing, or senior living, vacant units within a residential building pose a threat to the profitability of properties across all industries. We have the solution! TrustHab’s IoT-powered building management system has been designed to deliver continuous monitoring and real-time insights into property-wide conditions, providing peace of mind for onsite teams and protecting buildings against undetected maintenance issues – particularly during periods of high vacancy. Let’s explore further.

One of the key benefits of TrustHab’s IoT building management system is its ability to promptly detect and prevent leaks. Water leaks, when left unnoticed, will cause extensive damage to property that leads to costly repairs and significant disruptions to tenants. TrustHab’s leak detection solution utilizes compact sensors to pinpoint water leaks the moment they occur, automatically notifying management so the appropriate personnel can take immediate action and prevent further damage. For tenants that are responsible for paying utility bills, consistently monitoring their individual water consumption and sending notifications of abnormally excessive usage empowers them to make the necessary adjustments to lower their monthly expenses.

In addition to water leak detection, TrustHab’s smart building technology helps maintain optimal heating and cooling settings in vacant units. Fluctuating external temperatures during periods of high vacancy can lead to issues like mold growth or frozen pipes, which cause significant damage if not caught and addressed promptly. TrustHab continuously monitors temperature and humidity levels in units and common areas to ensure that heating and cooling systems are functioning properly, mitigating the risk of such problems. By monitoring HVAC runtime and maintaining optimal temperatures, TrustHab helps protect your property from risky conditions that would otherwise lead to costly maintenance issues and tenant discomfort.

For properties looking to simplify access management and provide an extra layer of security for occupants, TrustHab also offers an IoT-powered access control solution. Tenants will benefit from the keyless convenience of accessing their units via smartphone, while property managers can utilize TrustHab’s centralized platform to remotely grant or revoke access to vendors that require temporary admittance to complete work orders.

Furthermore, TrustHab’s building management system offers valuable insights into property-wide trends and patterns, allowing onsite teams to make data-driven decisions to optimize operational efficiency and reduce costs. By analyzing data on utility usage, maintenance problems, and the time taken to resolve issues, property managers can identify areas for improvement and implement targeted strategies to maximize profitability and increase NOI.

From water leak detection to temperature monitoring and security features, TrustHab provides property managers with the tools they need to ensure the safety and efficiency of their properties, even when occupancy levels are low. By leveraging advanced technology and real-time insights, TrustHab’s building management system helps property managers mitigate risks, reduce costs, and optimize operational efficiency, ultimately enhancing the overall value of their properties. Schedule a complimentary demo of TrustHab’s platform today to discover why we’re the trusted partner of the top property operations nationwide!