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 […]
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 […]
A casual observer would assume that vendors and contractors sell energy projects to multifamily building owners. In reality, the energy managers and other internal champions connected to those buildings wind up doing most of the selling.
They’re the ones who lobby to gain consensus among their peers in property management, facilities and engineering, persuade […]
A little more than a year into California’s mandate of submetering on all new apartments, water conservation continues to be a hot topic.
Effective Jan. 1, 2018, California SB-7 took effect and dashed the future of master metering. All new apartments are now required to meter individual consumption and provide billing on each unit. […]
eBills are no longer a new idea or technology, and the statistics back it up. Payment processor Fiserv reports that over 50 percent of Americans receive some bills electronically, and 78 percent of households are
receptive to the idea. In fact, the majority of consumers receive at least a mix of paper and paperless […]
U.S. Energy Information Administration Administrator Linda Capuano told the Energy and Water Development Appropriations Subcommittee in the U.S. House of Representatives in February that the U.S. energy industry is in a transformational time. She punctuated that statement by noting that, for the first time in almost 70 years, the U.S. will be exporting more energy […]
Over the last few years, the multifamily industry has been exposed to terms like benchmarking, sustainability and Energy Star Portfolio Manager (ESPM). These terms may be familiar to some with exposure to other markets, but they are alien to many of us in multifamily.
To add more fuel to the fire, several cities, a […]