How Property Managers of Apartment Buildings Can Improve Profitability

Property managers of apartment buildings are expected to keep costs as low as possible to increase profitability, while managing tenant complaints. Talk about a tough job. In the past, this was done by deferring capital expenses and maintenance and reducing operating expenses. However, this did little more than push the problem back a few years. In some instances, this approach actually cost building owners and property managers more in the long run.

The solution: proactive maintenance.

Property managers can reduce costs by implementing proactive measures.

Crockett Facilities Services, Inc. (CFSI) recently exhibited at the Property Management Exposition (PMEXPO) in Washington DC, joining nearly 2,000 other property management professionals. The one-day event targeted property managers of multifamily residences and commercial office buildings, showcasing how to reduce energy costs and ensure tenant comfort. Here are just a few measures you can take to impact costs and improve efficiency.

1. It is important to analyze utility bills on a monthly basis. Check your electric bills and water bills for irregularities and spikes.
2. Use the Energy Star Portfolio Manager to track energy efficiency improvements.
3. Optimize your building’s energy management system by evaluating programming and settings. Even small changes can save thousands of dollars.
4. Is your apartment complex located in a deregulated market? If so, look into alternative power purchasing options to lower utility costs.
5. Most spaces tend to be over-lit. Perform lighting retrofits to utilize more energy efficient technology and consider installing motion sensors.
6. Turn off the lights when not needed. To make this easier, install occupancy sensors.
7. Rather than running fans and motors continuously, turn them off for periods of time to cut costs.
8. It is amazing what a few window coverings can do to reduce your heating and cooling bills.
9. Dual flush toilets can save a lot of water in the long run.
10. Review service contracts and look for areas where you can modify spending without hurting building appearance, cleanliness, or tenant comfort.
11. And More!

To find out how you can reduce energy costs in apartment complexes and multi-family properties, call Crockett Facilities Services, Inc. Our MSCA STAR and GreenSTAR qualified service technicians know how to make a difference by improving the operating performance of your building. We proactively monitor and evaluate mechanical and HVAC equipment to reduce energy consumption and increase equipment longevity, increasing your property value.

Contact us today for a service quote for preventive maintenance, installation, and repairs for your heating and cooling systems. We service Maryland, Virginia and Washington, DC, offering 24/7 emergency service. For more information about our leading-edge mechanical contracting services, call 301.262.2771, email sales@crockett-facilities.com, or submit a form for a service quote. Like us on Facebook; follow us on LinkedIn, Twitter, and Google+.

Sources:

The Era of the Property Manager: Strategies for Creating Asset Value in a Down Exconomy, BOMA International

This entry was posted on Thursday, May 1st, 2014 at . Both comments and pings are currently closed.