Many states exempt sales tax on utilities for multifamily properties. Check with your Department of Revenue to confirm the exemption. If your property is exempt and your property is currently paying sales tax you may file for the exemption to be effective at the next billing cycle. This could save 5% of your water/sewer expense. …
Category: Resident Billing
Do you know why revolving doors were invented?
Super fun fact time! Do you know why revolving doors were invented? Not because they look cool, but as a way to open the doors in a building with pressurization issues. Have you ever been a building where doors slammed by themselves, or you noticed a door that seemed hard to open, or would not…
How do I work through my utility company to determine programs that are available for my company?
How do I work through my utility company to determine programs that are available for my company? Check desireusa.org: provides listing of programs for each state and each utility company (these may be dated, but provide good guide) Check utility website: there are typically resident programs and business programs. Some utilities classify multifamily as resident…
LED Lighting increases Asset Values
LED lighting can save you 60-80% on your lighting energy costs at a property. This will lead to higher NOI and can significantly increase the value of your asset. However, as this article points out, owners must effectively manage the process and may benefit from partnering with a professional LED installer. https://naahq.org/news-publications/units/january-2017/article/shedding-light-led-retrofits Professional LED installers…
How do I play this Sustainability game for my company?
ROI, NOI, increased property valuation, Leed Certification, Green Loans…..how do I find my way through this for the greatest impact for my company? Evaluate what type of company you are? Build and hold, entrepreneurial, flip? How long does your company plan to hold this property? Which properties pay the highest utility bills? Who pays the…
Several states now encouraging electric vehichles
The West Coast states – not only California but also Washington and Oregon – have been aggressive about its support for electric vehicles (EVs). But did you know that the list of other “states” that offer encouragement for EVs include Maryland, the District of Columbia, Arizona, Louisiana, Missouri, New York, Oklahoma,Utah, Hawaii, Florida, Georgia, Tennessee,…