The Future of Efficiency Conference in June was held to allow rental property management professionals and industry stakeholders to discuss current and anticipated energy issues.
Executives with U.S. Energy Group and other concerned parties were considering products and services, including possible energy management changes, according to Multi-Housing News (MHN). Lowering energy costs can help building owners and rental managers expand their profits and give them room to lower rent levels when seeking to outdo their competition.
The industry stakeholders noted that property managers' approach to energy efficiency can be characterized in several ways. Some are concerned only with compliance, which may cause them to overlook opportunities to improve their business. Some are focused on maximizing their return on investment, which may lead them to take steps toward better efficiency. In contrast, investors more focused on acquisition may be moving from buying to selling too quickly to implement significant energy upgrades.
Finally, some owners and managers strive to remain on the cutting edge of efficiency, buying more efficient appliances and equipment as a result. They are more likely to purchase advanced control monitoring and control systems and other innovations. Multifamily stakeholders should consider their own level of interest and evaluate what they stand to gain by improving efficiency.