Essential Energy Management Steps for Multifamily Properties

In the US, at least one in every six households lives in an apartment or condo. It’s no surprise that energy prices are so high. You’re supplying several families, and each of them selects its own air conditioning set points and light levels. Of course, there are always things in multifamily buildings over which you have no control. 

For instance, if you installed lighting controls that shut off all lights across the property at 9:30 p.m., you would probably lose some tenants. However, there are some enhancements you can make that can benefit both you and your tenants.

Control Water Usage

Do you know how much power your property uses to heat water? This might account for a higher portion of your running expenses than you realize. Implementing hot water controls can assist in restricting usage while still providing hot water to renters who need it. It is possible to configure systems to heat more water at peak hours, such as in the mornings and nights. 

Water system maintenance is also an important aspect of regulating usage. A leak can be expensive but also avoidable.

Educate Residents 

Hosting energy savings workshops can elicit a surprising response, especially if homeowners pay for their own water and electricity consumption. Many renters are interested in eco-friendly living alternatives, so this might be a simple approach to add value. Have you recently installed a new thermostat system? Show them how to operate the new thermostat controls in their units. 

What about installing a new lighting control system? Getting people involved can provide them with the ability to reduce their energy consumption.

Partner with Professionals

Working with industry professionals and energy conservation specialists can assist property owners in many ways. For instance, they can conduct a property-wide study, understand the specifics to establish an appropriate baseline for measurement, and design strategies to reduce energy usage and expenditures. The collaborations you build will have the most influence on the success of your energy conservation program. In your search for energy drainers on your house, examine appliances for age and performance flaws. 

Inquire with your accountant about any available tax breaks and credits. Additionally, examine lighting, landscaping, irrigation systems, interior design, window, and door integrity, and exterior siding to evaluate whether improvements can save money or reduce energy use. By partnering with professionals, you will always know the latest technology to minimize your property’s energy consumption.

Upgrade Lighting

There are significant advantages to using more energy-efficient lighting, such as LED. LEDs provide the most cost-effective solutions to save energy. You can install LEDs in every socket or fixture, but if this is not possible, you can narrow your focus to the following. 

  • Pay attention to common spots: There are various reasons why this might be beneficial. Lights in common areas must be on most of the time so they have the longest burn duration. Common places can be a primary safety focus as well. Consider parking garages, stairwells, corridors, and parking lots where occupants should feel safe. Incandescent or halogen bulbs can be used as specialty or d?cor lighting in your lobby. These frequently consume the most energy and provide the quickest payback.
  • Install occupancy sensors: Occupancy sensors can reduce lighting expenses by 15% to 30%. Lighting controls will be most effective in low-traffic areas such as office spaces, conference rooms, and maybe even laundry rooms in multifamily complexes.
  • Determine the simplest retrofit alternatives: Examine the regions where switching to LED is simple. This implies that no rewiring or outside work is required. Minimizing labor is an excellent strategy to get a retrofit started. This is one of the tactics you can employ for an apartment building, and it pays off in less than six months.

If you are a multifamily property owner looking for additional energy management advice as well as property management in Brooklyn, NY, Sunrise Real Estate is always happy to help.

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