ENERGY STAR certification
Property managers and residents can work together.
Lately there has been a push for energy efficiency in the multifamily sector. And that’s exciting, considering that this market has been playing catch up for awhile. Now, building owners are looking for ways to reduce, and gain recognition. Recognition through ENERGY STAR certification.
ENERGY STAR certification means that a property manager can sell to a green crowd, and reduce vacancies. It’s a label that means the property is willing to conserve without sacrificing quality. It’s a label buildings want, and residents look out for.
But, it takes a lot to achieve. And property managers can make changes, but in the end they need residents to buy in. After all, the majority of energy used in an apartment complex is resident based. Which means that if property owners want to achieve ENERGY STAR status, they must get their residents involved.
The good news is, residents are seeing the need for efficiency. A 2015 study done by the Pew Research Center found that over 60% of Americans believe they will have to make significant lifestyle changes in order to reduce the effects of global climate change. So, at least for once property managers and residents are on the same page.
In order to receive ENERGY STAR certification, a building must achieve a rating of 75 or higher. This 75 score means the building is performing better than 75% of similar buildings nationwide. Once a building is certified, owners can see how their building compares to similar properties, and gain access to avenues for further reducing costs of utilities.
It will take the combined efforts of property managers and their residents to obtain the right ENERGY STAR score. But, once they do, they can continue to see savings, and both benefit from lowered costs.