Operations & Technology

“Every penny counts” may sound like a tired cliché, but in the new economic order this mantra has more resonance than ever. By happy coincidence, energy management presents apartment community owners with an opportunity to improve their financial performance while addressing another area of growing significance: their properties’ environmental performance, particularly as it relates to energy consumption.

“Every penny counts” may sound like a tired cliché, but in the new economic order this mantra has more resonance than ever. By happy coincidence, energy management presents apartment community owners with an opportunity to improve their financial performance while addressing another area of growing significance: their properties’ environmental performance, particularly as it relates to energy consumption.

To get the most out of green construction or renovation, developers need to think about a project as an integrated whole whose value can far exceed the sum of its parts. That’s the promise of green design as exemplified in the Leadership in Energy and Environmental Design (LEED) certification process of the United States Green Building Council. LEED is quite effective at delivering energy-saving performance within budgets comparable to those for traditional construction.

Does it matter how green your buildings are if the people responsible for their daily operations don’t know how to properly maintain their sustainable lifestyle?

Over the past several years, developers and owners of multifamily housing have been the targets of numerous lawsuits filed by government enforcement agencies, including the United States Department of Justice, private disability rights organizations, and individuals alleging violations of the Fair Housing Act (the “FHA”) and Americans with Disabilities Act (the “ADA”). The “damages” and attorneys’ fees claimed by plaintiffs in these lawsuits, including the cost to modify existing buildings to comply with applicable accessibility guidelines, as well as the enormous costs in defending such lawsuits, have created significant financial exposure to the multifamily housing industry.

Multifamily communities move heaven and earth to acquire new-resident leads. However, leads often aren’t thoroughly captured, often falling through the cracks in the lead-management process.

In the universe of multifamily properties, some apartment communities just stand out from the rest. These are often the properties with great curb appeal, the much sought-after quality known to exert a powerful hold over renters. It is curb appeal that lures new residents, and at the same time makes it difficult for existing ones to depart.