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If you want to maximize Net Operating Income (NOI) and increase efficiency for your properties, taking a deep dive into your utilities is a natural place to start.
Reducing utility costs results in predictable increases in NOI. Plus, it raises the value of your property (due to the increased NOI) and future-proofs it, too, in many cases (because you replace old, inefficient, and costly equipment with new energy-efficient equipment). #Multifamily #EnergyStar
The EPA examined the financial benefit of benchmarking. They determined a utility savings of just 2.45 percent in a 500,000 square foot building for three consecutive years would translate to energy cost savings of approximately $120,000, and an increase in asset value of over $1,000,000.