San Francisco-based Compology recently announced it has partnered with Richardson, Texas-based Realpage to allow multifamily property owners to meter their waste and recycling to save on costs and drive toward waste diversion goals.
According to Compology, waste metering can help property owners and managers monitor and analyze exactly how much waste each building is producing and then match collection frequency to their actual needs (rightsizing), mitigate overage and contamination fines, and in turn, reduce annual collection costs to improve the net operating income and overall value of the property. For example, an average 250-unit apartment community typically has 12 dumpsters, costing the property $30,000 to $40,000 per year for waste collection and fines. Waste metering will allow properties to reduce these costs up to 40 percent, Compology says.
“Compology’s integration offering enables industry leaders, like RealPage, to flexibly and seamlessly integrate automated waste metering into their existing platforms,” Ben Chehebar, Chief Product Officer at Compology says. “We’re excited for the positive results RealPage will deliver to the multifamily market, and we look forward to expanding waste metering’s impact in the commercial space, too.”
Sustainability for the multifamily market
Remote dumpster visibility helps identify and reduce contamination in waste and recycling streams, improve diversion rates from landfills and satisfy demand for transparency and sustainability which lead to higher rents and better resident retention.
“The waste and recycling industry has seen a major movement towards the need for increased transparency due to changes in consumer sentiment, new regulations and a volatile economic environment” Jason Gates, CEO and cofounder of Compology, says. “Waste metering meets the needs of the market by enabling operational efficiency and regulatory compliance. We’re thrilled to partner with a forward-thinker like RealPage to bring visibility and cost savings to the multifamily housing industry.”
The RealPage and Compology collaboration helps buildings meet the ever-growing requirements of Global Real Estate Sustainability Benchmark (GRESB) reporting and government mandates while importing new waste metrics into EnergyStar’s Portfolio Manager, the company says.
“The partnership with Compology elevates the value we provide to our customers,” Jason Lindwall, senior vice president of utility management at RealPage, says. “We expect our new Waste Management Solution will cut customers’ waste program expenditures by more than 40 percent. Because it’s also paired with our unmatched utility data, it will transform the way multifamily communities can sustainably manage their properties while realizing huge cost savings.”