Renovia | Cut Cost in Apartments

Ways to Cut Operating Expenses in Apartment Buildings

November 3rd, 2017 Posted by Uncategorized 0 comments on “Ways to Cut Operating Expenses in Apartment Buildings”

Being Green Pays, How to Cut Operating Expenses

You take pride in the build­ings that you man­age. It’s your goal to pro­vide a safe place that your res­i­dents can call home, but you also want to make mon­ey while doing it. Here are some ways to help you when cut­ting apart­ment com­plex expens­es.

  • Low­er your util­i­ty bills– There are some things that you can do to improve the per­for­mance of your fix­tures and appli­ances.
    • Install low-flow toi­lets. Old­er toi­lets can use any­where from 3.5 to 7 gal­lons of water per flush (GPF). Fed­er­al plumb­ing stan­dards now spec­i­fy that new toi­lets can use only 1.6 gal­lons at the most and high-effi­cien­cy toi­lets (HET) use only 1.28 GPF. To put this into per­spec­tive, a toi­let that uses 7 GPF will use approx­i­mate­ly 12, 775 gal­lons per year com­pared with a HET which will only use about 2, 336 gal­lons a year.
    • Install low-flow show­er­heads- Just like the low-flow toi­lets, low-flow show­er heads can save on the amount of water used. A tra­di­tion­al show­er head uses about 3.5 gal­lons per minute (gpm), while a low-flow show­er head uses only 2 gpm. That trans­lates into 12, 775 gal­lons per year for a con­ven­tion­al show­er head and only 7,300 gal­lons per year for a low-flow show­er head.
    • Install ener­gy star rat­ed water heaters- Water heaters that car­ry the Ener­gy Star rat­ing are from 10 to 20% more effi­cient than those that are not. You should also steer clear of elec­tric on-demand water heaters. This type typ­i­cal­ly takes 120 amps to run and are not very ener­gy effi­cient.
    • Go paper­less– Send­ing mate­r­i­al via paper can end up cost­ing up to 31 times more than send­ing it elec­tron­i­cal­ly. Give your ten­ants the chance to get their notices by email instead of paper notices.
  • Con­sid­er main­te­nance expens­es– Remem­ber that the best way to keep expens­es down is to do things right the first time. Don’t apply a band-aid to a prob­lem that needs some­thing more. Here are a few spe­cif­ic ways to cut main­te­nance expens­es.
    • Be sure to reg­u­lar­ly paint and water­proof your prop­er­ty to avoid cost­ly repairs due to mois­ture. Hir­ing a painter is far cheap­er than hir­ing some­one to replace rot­ting sid­ing.
    • Get your repair and clean­ing sup­plies in bulk.
    • Change out your light bulbs and replace them with ener­gy effi­cient CFL and LED bulbs.
    • Con­sid­er the cli­mate of your area when plan­ning your land­scap­ing and choose the plants that will need min­i­mal inter­ven­tion from you. One trend to con­sid­er is xeriscap­ing, the prac­tice of land­scap­ing using plants that would severe­ly reduce or elim­i­nate the need for irri­ga­tion com­plete­ly.
  • Have your prop­er­ty tax­es assessed– If your build­ing was pur­chased for sig­nif­i­cant­ly below mar­ket val­ue, there’s a good chance that your prop­er­ty tax­es are set too high. If this is the case, you should appeal the assess­ment.

In the end, sav­ing mon­ey by cut­ting apart­ment com­plex expens­es is doable. There are plen­ty of ways that you can cut costs. You sim­ply have to take it one step at a time.

 

Down­load our E-Book, The Five Fac­tors that Impact Paint Selction to learn more!

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