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Today’s generation Y woman is better educated and in some instances better paid than her male counterpart. Appealing to this demographic can help lower your vacancy rates.
The EPA’s WaterSense labeling program has been highly successful, using voluntary compliance and incentives for manufacturers, consumers and homeowners. Recently it added commercial users to its target audience with the first label for a commercial use – flushing urinals.
A generation of green renters is out there but they’re not well versed in what it takes to live in a green apartment. Ensuring a tenant education program is part of your overall sustainable operations and management will reduce expenses and increase NOI.
Every property management building nerd should have the opportunity to attend a multifamily energy efficiency seminar with Andy Padian, currently VP of Energy Initiatives at the CPC. Here is a brief review of his multifamily energy efficiency recommendations.
It’s not likely that most multifamily building will undergo a deep energy retrofit anytime soon, but a lot can be done to improve the efficiency of buildings and comfort of residents. Depending upon whether your property is directly or master metered, the paybacks on these improvements will differ.
After you’ve checked for leaks, taking the following simple steps in units and laundry rooms can raise your NOI and significantly reduce water consumption in your buildings.
Taking control of the flow of water in your units puts you in control of your apartment building’s expenses and increases your net operating income. For homeowners associations the task is more difficult, but educating your board and resident members is the first step on the road to success in reducing association expenses.
Keep in mind that many local water utilities are willing to perform
