Recommended Actions when Site is Sold

When you find out that a property within your portfolio is planning to be sold, please complete the following steps to ensure all the data is collected before the official sold date. In some cases, if you wait too long past the sold date, it can be harder to get some of the important data points, which is why we recommend planning ahead of time to gather it. The summary of steps you will want to follow are:

1. Review your utility data to make sure that it is up-to-date and complete with historical data, if available.
2. Review and update your property site supplement information including: occupancy rates, projects & audits, and certifications & ratings.
3. Set a sold date in the lifecycle events for your property.
4. Deactivate all Connect and manual meters.
5. Keep the property as 'active' until the reporting period passes the last year of ownership.

Check & Update Utility Data

1. You will first want to ensure that there is at least two years worth of utility data or as far back as when it was owned.

   • To check this, you can navigate from the 'Sites' page > Click into property > Click 'Utilities' tab > Review the first/last reading of the meters set up at the property.

   • If your company is reporting to GRESB/CDP or creating an ESG Report in the future, this will be very important to ensure that there is data reflecting at least 2 years back.

     • EXAMPLE: If an asset is sold on June 30th 2022, we will want to make sure we have data from the date of acquisition (if possible) or from Jan 1, 2020 to present. 

2. Check the Portfolio Trends to determine the meter completeness for each of the sites being sold.

   • How to create a table/graph to review for GRESB reporting:

     • Metric = Electric Usage

     • Period = Last Calendar Year vs Prior Year (to ensure data is complete for reporting like GRESB) 

     • In the Site Breakout table, add the column “Meter Days Missing Data”.

     • Search for the site in the table to check on the meter completeness, and see if any meters are missing data.

   • How to create a table/graph to review for Year-to-Date:

     • Metric = Electric Usage

     • Period = Year to Date vs Prior Year (to ensure data is complete for this year up until the Sold date)

     • In the Site Breakout table, add the column “Meter Days Missing Data”.

     • Search for the site in the table to check on the meter completeness, and see if any meters are missing data for time period.

3. Once it is determined if there are any gaps or incomplete data, please reach out to the Property Management team or involve the necessary users to ensure the missing invoices are provided.

   1. If the meters that need to be updated are Connect meters, any invoices will need to be sent to support@measurabl.com for processing.
   2. If the meters that need to be updated are Bill Upload meters, any invoices will need to be uploaded directly into Measurabl.
   3. If the meters that need to be updated are manual meters, then the data will just need to be manually added or bulk uploaded to them.
      • NOTE: If your account is premium, then you can utilize 'Estimates' if any bills or readings are unavailable.

4. Lastly, please reach out to our Customer Success Manager to run a Data Completeness and Gap analysis to confirm there is no missing data for the reporting period, and up until the Sold Date.

Check & Update Supplemental Data

1. Check to ensure that the following data is up-to-date and accurate at the property:
   • Occupancy Rates
   • Details about Projects/Audits
   • Certifications/Ratings

2. Next, please add the Fair Market Value appraisal at the point of sale.

   • NOTE: This is important for GRESB. If you do not want to track this data in Measurabl, it will need to be calculated by your company team for the GRESB submission, separately.

Final Steps

1. Once you and your account team determine that all Utility Data (up until the sold date) and Supplemental Data has been collected, it will be important to add the Sold Date for this property(s).

2. Next, you will want to deactivate all meters:

   • Connect Meters: Deactivate all Utility Sync accounts.
   • Manual Meters: Deactivate all manual meters (see here under 'How to delete, deactivate, and reactivate a manual meter').
3. Lastly, the sold site(s) should be kept active until the reporting period passes the last year of ownership. Example: If the property was sold in 2023, then it should be active until the GRESB 2024 report has been submitted (which reports on 2023 data). Once reporting has passed, the property can be marked inactive.