An Easier Way for Property Managers to Handle GRESB Reporting
Updated: Dec 16, 2019
Property managers are often left with a terrible headache when it comes to utility monitoring on a day to day basis.
We are currently in a period where property managers are juggling manual and automated tasks in order to solve their issues in relation to building certifications such as GRESB reporting.
What Is GRESB Reporting?
Well, GRESB stands for Global Real Estate Sustainability Benchmark and is becoming a requirement the same way as producing an annual financial statement is a legal requirement.
GRESB puts a huge onus on property managers to produce accurate and timely data as GRESB releases its scoring reports on different buildings annually and it's becoming much more valuable to asset owners, It's a massive obligation!
In terms of financial statements, you must gather all your data for the year and produce your annual profit and loss balance sheet and get them audited.
GRESB on the other hand is kind of similar for energy and building information.
It's a huge data gathering, data quality exercise that so often, people that own these buildings contract portfolio managers to do this work for them because it's so substantial. The same way as they contract a financial auditor to do their financial accounts.
Do You Really Need A GRESB Score For Your Building? What Are The Benefits?
Having a GRESB score enhances the value of the building; some would even say it’s a “must have”.
The certification process allows you to benchmark the building and see how well it's doing against its peers. It provides a platform for more consistent messaging about your sustainability performance to your stakeholders and is a basis for continuous improvement.
How Are Property Managers Currently Collecting Data For Their GRESB Reports?
So, let’s say you as an asset owner have hired a property manager to gather this data.
The property manager, in order to collect sufficient data for GRESB reporting, would need to collect energy data, water data, utility data and air quality data for the building and that data either doesn't exist or is very poor-quality data that is in paper format.
Currently, in the absence of automatic meter readings and utility bills, it’s all a very manual process.
The property managers rely on phoning the various tenants and getting their monthly energy consumption. It becomes almost a cottage industry of getting the data manually which is always prone to errors.
Any manual operation of this magnitude can be absolutely guaranteed to have incorrect measurements which means you can be absolutely guaranteed that your credit report will be wrong.
Smart metering and proper data management is a must to be able to achieve maximum marks. You want maximum marks for your complete portfolio because if you don't have a four-year complete portfolio including all your tenants, you're going to score down heavily.
Isn’t This Your Supplier’s Job?
You’d think so but, unfortunately, some suppliers and utility providers think that the sole purpose of energy measurement is to send you a bill at the end of the month yet they’re not always successful.
We've seen plenty of cases of inaccurate billing. It's a huge problem.
Some suppliers and utility providers don't see that energy data is a key component of how your building is performing and that you, as a manager of the building, need to have live data.
Sadly, that's not on their requirements list at all. It’s not their vision. They just see it as an inconvenience and don't try to facilitate it.
If you’re lucky, they may or may not send you a badly-put-together CSV file at the end of each month with your data in it but it’s often the best you can hope for.
A Better Way
If you’d like to learn more about a better way of handling your GRESB reporting, get in touch with us now.
Call us now on +353 (0) 14433147 or get in touch now with Kieran Murphy at firstname.lastname@example.org.