Improving HVAC performance and tenant compliance starts with knowing everything there is to know about your HVAC inventory – including how it’s maintained and by whom. Without this full understanding, commercial real estate (CRE) properties cannot operate at their highest level. And when data points are not tracked on a trusted digital repository, you risk noncompliance. With an HVAC inventory management system, CRE landlords can manage multiple portfolios on one platform. Here are three ways digitizing HVAC data benefits CRE owners and operators.
1. Assembles Everything You Own in One Place
Square one of tackling your HVAC inventory is fully understanding what you own. With an HVAC inventory management system, you have direct insight into all your HVAC units by building a trusted digital repository. In addition, digitizing HVAC data will give you insight into elements your tenants are required to maintain, so you can make sure they are keeping up with their triple-net lease requirements.
This becomes particularly helpful for those who own and operate multiple CRE properties. Because not only will digitizing HVAC data help you organize all HVAC units across multiple portfolios, it will also show you which units need repairs and who is responsible for maintenance. With all your information on one easy-to-use platform, you and your team can access HVAC data anywhere, anytime.
2. Saves Time and Money by Streamlining Processes
Making dozens of phone calls or emails to request HVAC reports annoys tenants and can waste hours of your time. Digitizing HVAC data enables you to send out automated emails prompting tenants to upload maintenance reports monthly, quarterly, or seasonally. Now you have a digital trail that can prove any instances of noncompliance from tenants. And because documentation is all in one place, you can be empowered to act when a tenant doesn’t maintain their HVAC, including withholding security deposits.
3. Increases Accessibility and Transparency
Digitizing HVAC data allows property managers to quickly find all occurrences of equipment that may have manufacturers’ recalls, environmental risks such as proscribed refrigerant, etc. When tenants know you have the capability to manage HVAC obligations at this level, they are more likely to keep up with their maintenance responsibilities. This mitigates your risk and increases transparency between owners and tenants.
Digitizing HVAC data also allows tenants to have the comprehensive unit details they need to manage HVAC systems properly. When everything can be handled virtually, your tenants can quickly submit proof of maintenance to you, keep service logs, and easily pursue HVAC replacement options.
Take Control of Your Tenant Compliance Program by Digitizing HVAC Data
Having a complete view of your HVAC inventory is critical for effective property management – that much is clear. Instead of chasing tenants’ compliance with manual, error-prone processes, you can save time on HVAC repair and replacement costs with a trusted digital repository. Empower your tenant compliance program with automated maintenance requests, compliance dashboards, and a digital inventory of all HVAC equipment. Reach out to one of our experts today to start the conversation!