Energy benchmarking is swiftly becoming a required practice for multifamily and commercial properties across the nation. While benchmarking energy usage can help properties to conserve energy and lower costs in the long run, it’s only the first step in doing so. Find out how to utilize your energy benchmarking data to the fullest extent. 

According to Multi-Housing News, energy audits are a way for energy management companies to utilize the data uncovered during the benchmarking process and devise new strategies for property’s to reduce energy consumption. An energy audit can uncover a building’s hidden energy problems and determine the projects that will ultimately result in the greatest cost savings for a property.

Aside from lowering operating costs through energy efficient upgrades, energy audits can also be used as an advantage when marketing multifamily and commercial properties to potential residents. According to a Parks Associates survey 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. Energy audits can lead to lower vacancy rates and even the potential to raise rents.

Interested in learning how energy management services can benefit your property? Consider contacting our partners at Utility Bill Manager, LLC to learn more. Visit UBM online or call toll-free at 877-824-5180.

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