Welcome to the summer edition of the Journal of Utility Management, our quarterly magazine designed especially for those considering the operational impact of utilities on their multifamily businesses.
Summer is the season for vacations, picnics, pool time, visits with family and friends and more. It is also the time to implement effective energy and […]
In May 1869, the last link in the transcontinental railroad was completed in Promontory Summit, Utah, as the Union Pacific No. 119 and Jupiter locomotives were drawn face-to-face. A golden spike commemorating the event, which was actually delayed two days past the date engraved on the original “golden spike” due to weather and a […]
The World Wide Web has changed everything. Today, those Americans not online have shrunk to less than one-tenth of the nation’s total population, from 48 percent in 2000, according to Pew Research. For our residents, the internet is integral to daily functions including communications, purchases, transportation, logistics, and everything else.
Utilities are among property managers’ top operating expenses, according to the NAA’s most recent Survey of Operating Income and Expenses. Rising utility costs and unforeseen rate hikes coupled with increased utility billing regulations, as well as renter expectations of online payment options, have created a conundrum for multifamily owners who realize they must come […]
In 1985, the Robert Zemeckis’ blockbuster success, Back to the Future, landed in theaters. The movie thrilled audiences with its nostalgic view of the past (1950s) and its futuristic predictions of the future, like 24-hour-a-day news stations. This might sound twisted, but I love the moment when Biff repeatedly thwaps George McFly on the […]
Landlords abandon markets. Developers stop building rentals. Apartment inventory drops. Resident mobility grinds to a halt. History, analysts and economists say that rent control will only worsen already bad housing shortages in those places with the greatest need for housing. Apartment owners don’t want it. Associations warn of its perils. In 1999, Forbes weighed […]
The industry has generated, analyzed and applied massive amounts of data to build successful apartment operations across the country. Data is used to calculate asking rents, track utility rates, find leaks, and just about everything else. The next horizon in this brave, new digital age: weaving all functions together to create a beautifully simple […]
You’re on top of things. You know that utility expenses are one of the largest costs in running your multifamily property, with prices that seem to spike at random. You’ve dealt with the challenge by implementing RUBS to allocate utility costs to your residents who, after all, control consumption. You’ve got your expenses under […]
Submeter maintenance means potentially avoiding unnecessary expenses and regulatory headaches.
In Massachusetts, landlords must “retain an affirmative obligation” to maintain submeters and any other water conservation devices. They must also respond in a timely manner if a resident complains about an overcharge, and the resident shall have “all rights and remedies provided under law […]