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What are some sustainability issues facing property managers and investors? Randy Moss, industry principal for Yardi Energy, offered timely energy reporting in a recent podcast sponsored by the National Association of Real Estate Investment Trusts®, a global representative for REITs.
Listen to Randy Moss’ complete REIT Report
Building performance standards challenges
For property managers, REITs and commercial real estate (CRE), one of the biggest energy management challenges today is keeping up with nearly 50 new compliance and reporting requirements across the U.S. and Canada. Those laws will be top of mind for many people because they require new levels of data and incur big penalties for non-compliance.
These regulations involve different approaches and reporting metrics based on property location, so the challenge is understanding which buildings must comply and the new data points property owners and operators might need to gather. Staying ahead of these challenges is going to take real focus within the REIT community.
Best practice: One system for all data
Yardi works with a broad selection of building types in multiple regions in the country. That gives us a good feel for various reporting requirements. What’s most useful is getting all energy consumption details into one system so you can look at a complete portfolio, whether it’s in one city or nationwide, and understand at the building level your current status toward compliance and steps you might need to take. So, if there’s one takeaway for understanding your data, it’s getting it in one place first.
Gathering utility data as a “team sport”
We’re often asked how Yardi supports clients in getting data from utilities and ensuring their compliance goals are being met. Our sustainability experts help clients identify the best sources of data and best practices for leveraging it. After bringing all the underlying data needed for reporting into one technology platform, we provide a dashboard that shows requirements for each building, how close to compliance it is and what the client needs to do.
It’s said that sustainability reporting is a team sport. We’re happy to be on our customers’ team, providing visibility into the journey of assembling everything required for compliance.
Rising AI center utility costs
As AI data centers grow in number, their electricity and water costs will continue to rise. The good news for energy managers needing to comply with new regulations is that the return on investment on their energy efficiency technology will also increase. We encourage property owners, managers and investors to anticipate what it will look like if electricity costs continue to rise. Explore how efficiency-enhancing software helps them comply with regulations and reduce greenhouse gas emissions.
Learn more about how Yardi Energy helps property managers and investors meet compliance and sustainability goals.
