Want to learn more about how leaky toilets can lead to water bill spikes? Check out our blog post on the water bill villain. (Click through for video)

Consider submetering your property this year. Utility submetering is an energy efficient property upgrade that places the responsibility for utilities in resident’s hands, lowering operating costs for multifamily and commercial property owners. Properties that submeter water, gas, electric  have been proven to conserve large amounts of energy, and can even use submetering as a qualifier for  LEED certification. Find out more about why 2012 is a great year to submeter and contact us for a free property audit to get started!

Educate your residents on conservation. It’s important that residents know how to utilize a property’s energy efficient appliances and upgrades to their greatest advantage. For example, a resident that has never lived in a submetered unit before might not understand how a specific water-wasting activity, such as long showers or leaky toilets, can affect their utility bill. Holding an Earth Day information session or sending out a community-wide newsletter on conservation techniques for the Spring and Summer is an excellent way to get residents involved.

Explore tax incentives and rebates available. Making energy efficient upgrades to your property may require an initial investment, but will save your organization money for years to come. Thankfully there are a wide range of  energy efficient rebates and tax incentives available that can lessen the impact of an initial green investment. Find out more about the incentives available for your property here.

Visit the New York Real Estate Journal and New England Real Estate Journal online to view each article!

The newest generation of renters access various social media sites on a daily basis, so it makes sense that social media also plays a large role in their apartment search. ApartmentRatings.com, Facebook, and Twitter are all popular sites where apartment communities can attract gen-y renters by promoting rent deals, uploading photos of floor plans, and discussing amenities.  It’s important that property staff update these social media websites frequently and communicate directly on the sites with potential residents that have any questions about their rental options. Strong customer service through social media helps show potential residents that they can except to receive the same attention once signing a lease. Apartment communities that have been resisting the shift into social media should consider that the recent explosion of gen-y renters in the multifamily market is not a passing trend. In fact, this new generation of renters is only expected to expand in the next 15 years.

It’s also important to recognize that while recent grads may seek out properties similar to their student housing complexes, their housing priorities will likely shift after graduating. Since many new grads will no longer have parental support or student loans to cover rent payments, money becomes the leading factor behind the rental decisions of most recent graduates. Multi-Housing News explains that gen-y renters aren’t necessarily looking to rent large apartments, but instead are focusing on the actual apartment layout and choosing properties that offer the most amenities available on their budget. MHN also explains that much of the gen-y population actually finds communities in the city suburbs to be more appealing than city center locations because of their lower rent price tag, as long as there are destinations within walking distance or reliable transit options into the city.

Green renovations are another way to appeal to the frugal mindset of recent graduates. Energy efficient updated appliances and energy saving practices such as utility submetering allow residents to save substantial amounts on their utility bills, since they are solely responsible for their own energy usage. Rooftop gardens and landscaped outdoor space are additional ways to attract young residents that may be interested in growing their own fruits, vegetables, or flower garden.

Interested in learning more about energy efficient services that can benefit your property and attract new residents? Feel free to contact us today for more information.

Since many residents vacation during warmer months, it’s common for water maintenance issues such as leaky toilets, faucets, or pipes to go unnoticed and result in extremely high water bills. One resident’s leaky toilet can waste 40,000 gallons per month and could potentially cost your property thousands in extra utility charges if left unattended. In addition to these maintenance issues, the American Water Works Association has stated that water bills are set to triple this upcoming year as a result of fixing and expanding underground drinking water systems. Electric conservation should also be taken into consideration as the seasons start to shift, since many residents will choose to blast air conditioning instead of utilizing conservation techniques such as purchasing dark window coverings or making use of ceiling fans.

When residents are not responsible for their own energy usage, property owners can find themselves paying thousands of extra dollars per month in springtime and summertime utility costs. Properties that are looking to decrease these costs should consider utility submetering, an energy efficient practice designed to place responsibility for utility costs in residents’ hands. Ratio utility billing services (RUBS) are another alternative approach to allocating utility expenses that can be used when a property’s mechanical system cannot support submetering. While both of these energy efficient practices have been proven to lower operating costs, it’s important that the residents living in submetering units are educated on conservation techniques so that high utility bills won’t leave them dissatisfied with their rental experience as a whole.

Since late spring and early summer are often transitional months for renters, property owners should also remain aware of vacant unit theft, which occurs when new tenants don’t call ahead to arrange their utilities when moving into a new unit.  Vacant unit theft often occurs for weeks or months at a time and can cost your organization thousands of dollars in stolen utility costs. Vacant unit cost recovery is a service provided by utility management companies that can help to invoice residents for their unpaid usage, putting this money back in the property owner’s hands

LinkedIn groups are useful tools for multifamily property professionals looking to connect with others in the industry. Popular LinkedIn groups for the multifamily industry include the Multi-Housing News Forum, National Apartment Association Community, and Multifamily Technology Discussion Forum, just to name a few. The Submeters and Submetering, and Water Efficiency Magazine groups are also discussion forums geared towards multifamily professionals interested in energy conservation. In addition to contributing to discussion groups, LinkedIn allows companies to create their own profile where they can share apartment amenities, post company jobs, and recruit for services.

Multifamily Insiders.com is another online networking website geared specifically towards professionals in the industry. Users can create a free profile on the website and discuss topics ranging from apartment marketing strategies to resident retention to green building. Additionally, members of the site can create forum topics, read blogs written by industry experts, as well as search for and post multifamily industry employment opportunities. Multifamily professionals can even filter groups by state for more localized discussions and results.

There are also many useful websites that focus primarily on energy efficiency and its role in the multifamily industry. The U.S. Department of Energy’s EnergySavers Website and the EnergyStar  official website offer conservation tips, blog articles, and informative videos for both property owners and apartment residents. The Database of State Incentives for Renewables & Efficiency (DSIRE) also has an extremely useful website where multifamily and commercial property owners can search for energy efficient property rebates by state.

Is your organization prepared to deal with this type of water bill  increase? Utility submetering can transfer the responsibility for water bills directly to residents, which will encourage them to conserve water and dramatically decrease operating costs for your property. Learn more about your options by visiting our water submetering solutions page.

While the recent influx in renters is certainly a positive thing for the multifamily property industry, new residents can quickly become costly if they are using utilities irresponsibly or avoid reporting maintenance issues. Utility submetering is one energy efficient practice that helps property owners to lower operating costs, and encourages residents to conserve as a way to save money on their utility bills. Since residents become financially responsible for their energy usage through utility submetering, they are more inclined to conserve energy and are often quicker to report any maintenance issues that arise. Tax incentives and rebates for submetering can also help to lessen installation costs for property owners.

When residents are responsible for paying their own utility costs, they will undoubtedly seek multifamily properties that offer energy efficient appliances. Finance-commerce.com explains that aside from utility submetering, property owners are also installing energy efficient HVAC and plumbing systems, doors, windows, insulation, and Energy Star rated appliances to appeal to residents. Many developers have even found success in converting and renting out unsold condo units that are equipped with energy efficient appliances. These rentals appeal to young families that looking are looking to live in a space that feels more like a home, without making the jump to actually purchase one.

Energy Star and LEED certifications are two additional ways for multifamily properties to stand apart from their competition and advertise their commitment to energy efficiency. Both of these certifications require energy benchmarking and auditing procedures along with specific categories that multifamily properties must adhere to in order to gain certification.

To learn more about how utility submetering can benefit your property and to schedule a free property audit, feel free to contact us toll-free at1-800-256-9826.

The New York State Energy Research and Development Authority (NYSERDA) has created a statewide Energy Smart Multifamily Performance Program that provides financial support to property owners looking implement energy efficient upgrades in new construction and existing multifamily buildings. They have also created the Electric Reduction in Master Metered Buildings Program, which is specifically geared towards utility submetering. Owners of master metered properties with five or more units can visit the NYSERDA website to fill out an application for the program. If approved, this program can save multifamily owners up to 50% off the cost of a submetering system.

The California Multifamily Energy Efficiency Rebate Program (MEERP) is another statewide program that has been a successful in offering energy efficient rebates. The collaboration between the state’s four major utility companies allow property owners of multifamily properties to receive rebates on energy efficient upgrades ranging from lighting and insulation to window and HVAC improvements.

The Maine State Housing Authority’s takes a different approach to providing energy funding through their Multifamily Home Energy Loan Program. This program offers low interest loans for multifamily housing improvements interested in taking on energy efficient projects. The program requires borrowers to have an energy audit and then prepare a plan to address deficiencies.

For a full list of opportunities available in your state, visit the Database of State Incentives for Renewables & Efficiency (DSIRE) website, or type your property information into the DSIRE search tool on our sidebar.