Multi-Housing News - March 2009 - (Page 24)

products Submetering Enhances Property Value By Lisa Iannucci, Contributing Editor Studies show that submetered properties consume less water than those billing water as part of the rent charge. By tracking per unit consumption, submetering helps property owners accurately assign resident expenses and pinpoint usage exceptions. “Prompt investigation and remedying of these exceptions can further reduce utility consumption and costs to the property,” says Scott Bolin, director of meters and networks for Velocity. “These improvements and cost reductions enhance the asset value of the property.” In a perfect world, a newly constructed building would include submetering technology—it’s easier and more cost-effective to install it at this stage. Retrofitting an existing building is more challenging because of building design, inconvenience to existing residents and cost. If your building has an antiquated hardwired submetering system, it might benefit from upgrading to a wireless system. “Spring is an appropriate time to implement a utility conversion plan to individually submeter electric and gas utilities,” says Roger Freischlag, president of Energy Billing Systems Inc. However, the most appropriate time to submeter electric and gas is in conjunction with a building upgrade, he says. “Many studies show 15-35 percent energy savings with electric and gas conversions.” Even if it’s forecast that your building’s bottom line will see a nice jump after installing submetering, it doesn’t mean you can move forward with the project just yet. “The ability to submeter is determined by building logistics and by economics. For example, is there a sufficient capital budget to pay for the initial installation and subsequent system maintenance?” asks Dan Witte, executive vice president of sales at American Utility Management. There are also different types of devices, temperature sensors, time converters and allocation systems depending on the building and its location, says Ringo Lanzetti of Studebaker Submetering. “Both owner and resident benefit with an electric or gas conversion,” says Freischlag. “Owners benefit by removing the utility cost as a project expense, increasing the value of the property when it’s time to sell. Residents benefit because their actions reduce electric and gas use for the property. Responsible residents can often lower their utility use enough to reduce this total monthly housing cost.” MHN To comment, e-mail diana.mosher@nielsen.com. MHN ONLINE See an expanded version of this story at www.multi-housingnews.com/submetering WANTED: Your expert opinion on who are the Best Building Product Suppliers in multi-housing cast your vote@ www.surveymonkey.com/productchoice09 Today it’s more important than ever to get quality, value and service from the manufacturers that supply products and materials for your developments. The multi-housing industry relies on hundreds of high-quality companies to supply everything from windows and doors, to security products, to appliances. But which of these manufacturers stand out in terms of highest product quality, customer service, and value-for-dollar? All ballots must be submitted by APRIL 22, 2009. Recognizing the Top Multi-Housing Building Product Providers 24 March 2009 | Multi-Housing News | Official Publication of Multi-Housing World http://www.multi-housingnews.com/submetering http://www.surveymonkey.com/productchoice09 http://www.surveymonkey.com/productchoice09

Table of Contents for the Digital Edition of Multi-Housing News - March 2009

Multi-Housing News - March 2009
Contents
From the Editor
Executive Insight: Jonathan Rose
Profile: How Owners are Riding Out the Storm
Market Report: Southern California
Development Case Study: A City in the Sky
Finance: Small Loans
Property Management: Marketing Magic
Products: Submetering
Kitchen & Bath: Water and Energy Conservation

Multi-Housing News - March 2009