RealPage Launches Revolutionary Water Management Solution: Smart Water
July 06 2021 - 11:30AM
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.
About RealPage
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210706005559/en/
RealPage Communications Steve Calk Media@RealPage.com
RealPage (NASDAQ:RP)
Historical Stock Chart
From Apr 2024 to May 2024
RealPage (NASDAQ:RP)
Historical Stock Chart
From May 2023 to May 2024