Currently around 10% of properties in the US have a water leak – wasting homeowners and property managers over 90 gallons of water per day! These are humbling figures for short-term rental managers already facing the rising costs of operations and a challenging economy.
So, right now you’re probably working out the likelihood of one of your properties getting a water leak. Without monitoring systems in place to notify you, it’s entirely possible that leaks have been present in your properties for some time. What does this mean? Unfortunately, you could be losing 9,400 gallons of water per property per year. The good news is that by putting a few simple water management measures in place, you can put an end to unknown leaks and cut down on inefficiencies, possibly saving you hundreds of dollars.
Great, where do I start? Don’t worry, we’ve listed everything you need to know about reducing water wastage and improving the efficiency of your short-term rentals below.
What does a water management solution look like?
A water management solution uses hardware, such as smart valves and sensors, connected to software, such as a mobile app. It enables property managers to switch their maintenance approach from reactive to proactive, as they receive notifications when inefficiencies, like small leaks, are flagged by the intelligent IoT system. If necessary, the solution can even stop water flow to the area by using smart water valves (but this is normally for larger risk scenarios such as a burst or frozen pipe.)
Having a fully connected home that alerts you when issues arise gives property managers greater control over their properties. The water management notification, for example, makes you immediately aware of an issue. Therefore you’re able to place work orders to your maintenance team for assessment to resolve the leak as soon as possible – minimizing water wastage from the leak.
What makes this tech so successful is its ability to monitor your property’s water usage and system through sensors. This is a concept that also powers other smart home technologies including heating and cooling systems run by smart thermostats.
3 reasons why you should install water management tech
1. Reduce waste
Small, undetectable leaks result in 900 billion gallons of water wastage across the US annually. With the adoption of smart home tech that is designed to monitor and react to even minor discrepancies in water usage – you can put a stop to any unnecessary consumption in your short-term rentals in no time at all.
Not only will the monitoring sensors notify you of suspected leaks, but they’ll also alert you of excessive usage that could indicate a tap or shower has been left running.
Another added benefit of reducing your water consumption is that it increases your business’s sustainability – a property factor many short-term rental guests are looking for these days. So, not only will you be saving the planet (and your bank account), but you’ll also be attracting more vacationers to your properties.
2. Cut costs
Of course another benefit of reducing your water consumption is that you won’t be paying for water going straight back down your drain (or in worse cases, leaking and damaging your property). This means you’ll be able to cut down on your water bills – something that may be highly appealing in the current economic environment.
One of the best things about water management technology is that it provides preventative maintenance for your system. You won’t have to worry about keeping money aside in case something catastrophic, like a burst pipe, happens. Smart home tech is able to reduce the damage of such circumstances by instantly cutting off the water supply when water leaks are detected.
Cutting operational costs with water management solutions means you’ll not only make back the investment but you’ll also have more money on hand for bettering your business.
3. Guest experience
Besides the fact that water management increases the sustainability of your properties – which eco-savvy guests will find appealing while traveling – the smart home tech is also designed to protect the guest experience.
How so? With measures in place that enable you to stay on top of property needs, you’ll dramatically reduce the risk of maintenance issues during guest stays. This means your team won’t need to enter the property and interrupt a guest’s vacation. It may not seem like much but disruption to a guest’s stay can have a big impact on their experience, and therefore their review. So, avoiding situations such as this can help you reach those all-important five-star ratings.
Ready to stop pouring your hard-earned revenue down your drain? Investing in water management tech solutions today is the change you need to make in order to boost your profits tomorrow and in the years to come.
For more insight on how water management can improve your business, check out our Water Valve + Meter case study in the top right corner of our whitepaper page.