Marc Menowitz, CEO of Apartment Corp, says a smart water monitoring system is helping his company save thousands of dollars every month — and increase the value of its real estate portfolio in the process.
Apartment Corp owns and manages more than 20,000 apartment units across 25 U.S. cities. It’s been in operation for 70 years. Menowitz says that of all the investments he’s made to control operating expenses, none has delivered the kind of return he’s seen with Sensor Industries.
“We have buildings that are saving $10,000 a month on the water bill,” Menowitz said. “And it’s not a one-time savings. It’s every month.”
That recurring savings, he says, comes from identifying and repairing issues that would otherwise go undetected — especially toilet leaks.
“The most amazing thing to me was realizing that 70 percent of our toilets were malfunctioning,” he said. “You don’t realize how much money that’s costing you until you actually go fix the toilets.”
Sensor Industries installs sensors inside toilet tanks that detect continuous leaks, malfunctions, or failed flappers. When a problem is detected, the system alerts building staff with detailed reports and data — often allowing for same-day repairs.
For Menowitz, the appeal isn’t just in the leak detection. It’s the way the system is designed.
“It has the necessary reports that somebody in my industry wants to see,” he said. “It doesn’t seem like it was devised in a laboratory and then rolled out with no relevance to what the property owner wants to see. It’s an instant feedback system.”
In states with high water costs, Menowitz says the savings can be significant enough to increase property value in meaningful ways.
“If I’m saving $10,000 a month based on a 5 or 6 cap, we’re looking at increasing the value of the property by $2 million,” he said.
That increase can be leveraged. Menowitz says the savings helped him qualify for a supplemental loan through Fannie Mae or Freddie Mac — allowing him to pull tax-free equity out of the property.
“That’s big money,” he said. “It’s cash right in my pocket.”
The full video interview with Marc Menowitz is available below.
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