According to a study conducted by Parks Associates for Multifamily Executive magazine, nearly 30% of renters are willing to pay more to live in environmentally friendly or “green” units. In fact, almost 80% of multifamily firms today view energy efficiency as an important asset to their company. While many of these firms recognize the potential for rent increase, most report to be more interested in lowering operating costs.
Representatives from Parks Associates recommend that multifamily firms considering a shift towards green initiatives seek valuable partners that will help the firm offset the cost of investment required for greater energy efficiency while simultaneously helping to build awareness about energy-efficiency initiatives.
Submetering is an excellent option for firms looking to lower operating costs while still promoting conservation. Here at WaterWatch, we stay with your organization through every step of the utility submetering process, ensuring that both you and your residents are aware of the monetary and environmental impacts of conservation. We even offer residents their own unique website, complete with online bill pay options, FAQs, and conservation tips.