GREEN SCENE
HOME SwEET APARTMENT HOME Improve
sustainable operations at multifamily communities
JOHN KLEIN
(jklein@jdmgmt.
com) IS THE
PRINCIPAL OF JDM
ASSOCIATES. HE
CO-AUTHORED THE
IREM KEY REPORT,
a PRaCTICal
GuIDe To GReeN
Real eSTa Te
MaNaGeMeNT
WITH JDM’S
ALISON DRUCKER
AND KIRK VIZZIER.
PURCHASE A
COPY OF THE
IREM KEY REPORT
a PRaCTICal
GuIDe To GReeN
Real eSTa Te
MaNaGeMeNT a T
www.irem.org.
the MultifaMily hOusinG sectOr
is dOinG Better than MOst real
estate Markets, but it is still taking a hit
as residents delay paying rent and save money by
doubling-up, thereby reducing market demand
as they take on housemates. The U.S. apartment
vacancy rate has grown to 8 percent (a 30-year
high), capital is tight and many building projects
have been delayed.
Owners and property management teams
should begin by evaluating operations critically.
Focus on savings in common areas, model and
vacant units, and amenities. These savings will
contribute directly to the bottom line, lifting
profits and freeing up capital for additional
projects. Evidence shows that a 10 percent
reduction in energy and water consumption is
rapidly achievable, without capital expenditure.
Start saving by adding controls for turning
equipment off automatically, such as motion
sensors in restrooms, offices and model units.
Placing photosensors outdoors or in areas near
windows, and installing programmable thermostats to reduce temperature settings at night
will also save on energy costs. Use ceiling fans,
blinds, shade plants and window films to reduce
demand for conditioned air. Where practical,
open windows to take advantage of fresh air.
You should also consider installing and marketing ENERGY STAR appliances, efficient
lighting and programmable thermostats in each
unit, to help you attract and retain residents.
This can increase occupancy, reduce occupancy
costs, and potentially even allow you to increase
rental rates.
In model and vacant units, turn off water
heaters and unplug refrigerators, propping the
doors open so they get fresh air. Install timers
or motion sensors so model units stay lit only
while they are being shown.
