MFI: 4 Ways Landlords Can Reduce Utility Costs Without Sacrificing Comfort
- Jun 07, 2016
By David Schwartz
Landlords’ utility costs are heating up. Last year, U.S. water costs rose faster than nearly every other household expense.
The ongoing California drought did little to dampen the visibility of water shortages, and many water distributors had no choice but to raise prices in accordance with demand. Cities across the nation are testing tiered pricing structures to distribute water fairly, but their battle is a testament to the struggles property managers face on a daily basis.
Water isn’t just outstripping other household costs, though—it’s beating the regular market by a wide margin. Excluding food and energy costs, the Consumer Price Index rose by 1.8 percent last year, while water costs rose by an average 6 percent. And during the past 30 years, water prices have actually increased faster than oil prices.