It’s important to understand what an HVAC management software system is and why all commercial real estate (CRE) properties should consider using one. An HVAC management software system allows property teams to centrally manage all HVAC data for every unit, in every building. With this technology, CRE owners and operators can get a full picture of HVAC inventory – including make, model, warranty, tonnage, and more. And it stores all this information in one place to prevent you from having to hunt for certain HVAC data points.
HVAC management software also helps to mitigate property management risk by providing full visibility into what you own. Property teams can diminish regulatory burdens and spot HVAC maintenance issues faster with detailed tenant HVAC compliance requirements and unit-by-unit reports. When it comes to CRE tenants under triple-net lease agreements, this transparency is critical for effective property management.
Incorporating HVAC management software into your building operations adds value in more ways than one. The software not only acts as a hub for all HVAC unit data but creates a hands-off approach between property teams and tenants. Keep reading to learn the three value propositions of an HVAC management software system.
1. Create a Digital Log
What exactly does “digitizing” an HVAC inventory mean? It means all your information is in one place for property teams to access anywhere, anytime instead of in a filing cabinet.
With manual tracking, things are more likely to slip through the cracks, and you might not know until it’s too late. Instead, automated reporting makes it easier to track and prove HVAC compliance requirements per triple-net lease obligations. An HVAC management software system provides a digital repository of your entire HVAC inventory and sends automated reminders to commercial real estate tenants. In addition, it can also look up specs for individual units and manage communication with vendors.
2. Hold CRE Tenants Accountable
Digitizing your HVAC inventory makes it easier for your tenants as well. Commercial real estate tenants can use the software to keep service logs, submit proof of maintenance, and pursue HVAC replacement options. HVAC software simplifies the process of collecting tenant-side HVAC data. And with that, tenants are more likely to keep up with their maintenance responsibilities since they know property teams have this audit structure in place. This increases transparency and accountability for all parties.
Triple-net leases don’t fully absolve you of all day-to-day administrative work. HVAC management software gives property teams the ability to automatically send notifications to tenants based on their unique lease terms. That means HVAC software not only helps CRE owners and operators hold commercial real estate tenants accountable but reduces room for error and back-and-forth communication. Such software empowers CRE teams to tie individual commercial real estate tenants to specific HVAC units, customize when maintenance reminders go out, and even protect from regulatory risk with records to prove when tenants are at fault.
3. Give Access to a Vendor Marketplace
Finding a vendor to service an HVAC unit can be a major compliance roadblock. And if HVAC systems don’t get the service they need, properties can face major maintenance issues and additional costs down the road. An HVAC management software system provides pre-vetted vendors and makes it easier to manage RFP and bidding processes.
With one trusted vendor marketplace, CRE owners and operators can restrict bids to their network or even widen the search when new facilities are added. Being able to use a trusted vendor marketplace that fully integrates with the building operations platform used to store equipment and tenant data makes for a more efficient and seamless maintenance process.
Next Step: Choosing the Right HVAC Management Software System for Your CRE Property
An HVAC management software system acts as a preventative maintenance and tenant compliance tool for HVAC units. The software helps CRE owners and operators gain back control of their HVAC tenant compliance program by spotting issues before they arise. But most importantly, HVAC management software saves you time and money by integrating into your building operations program.
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