Expenses associated with water and energy use significantly impact the NOI and asset value on multifamily properties. According to WegoWise, an online utility tracking provider, saving at least $69,000 on water and energy consumption can improve the property’s value by $1.16 million.

Property managers have little control over the rental revenue. They can, however, still manage variable expenses, which includes utility bills. But how can you reduce the costs of water and energy without compromising tenant comfort?

NOI Enhancements helps clients reduce their costs with the installation of water-saving fixtures. We retrofit toilets so that these use less water, which results in better NOI.

Property owners who would like to save water but don’t want to invest in low-flow toilets benefit from the different ways to retrofit a toilet.

The most common approach is the use of house displacement devices. Technicians install these fixtures inside the tank to displace water without affecting the flush. These devices keep the tank from filling up with too much water each time you flush.

Another device is the early-closing toilet flapper, which closes the flush valve before the tank is empty. As a result, only a fraction of the water flows through the flush before the valve closes.

We install Stealth Toilets from Niagara, one of our trusted partners. This ultra-high-efficiency toilet is a step above standard water-saving toilets. With its quiet flush, low-profile body, and breakthrough patented hydraulic technology, Stealth’s unique design reduces water bills by 25 to 65 percent.
As water fills the tank, the toilet harnesses energy and uses a patented air transfer system to exert pressure in the bowl’s trapway. All you must do is press the flush button to clear all waste without wasting too much water.

We start with our free water analysis, which provides property owners and executive staff with details of projected savings and returns on investment. We learn more about your current water system and billing process.
We also discuss your retrofitting options and take you through the installation process. If you have any questions, feel free to ask during the consultation or analysis.

Our retrofitting process begins with the replacement of water-guzzling toilets and shower heads. We also provide a Certificate of Insurance and other necessary equipment for the installation. Apart from retrofitting, we remove and dispose of old toilets. Plus, we clean after ourselves.

After the installation, we send another member of our staff to check that everything is working well. We make sure there are no leaks and that all valves and screws are in place.

The real estate industry’s support for the green movement has led Fannie May and Freddie Mac to follow suit. These government-sponsored enterprises (GSEs) offer incentives to multifamily property owners who’ll reduce their energy and water usage through property improvements. Fannie May and Freddie Mac also offer increased funding on loans to finance these enhancements.

Fannie Mae and Freddie Mac offer the Green Rewards and Green Up options, respectively.

Fannie Mae Green Rewards

This Green Financing option is for multifamily property owners planning to invest in energy and water efficiency measures (EWEM). Fannie Mae will underwrite up to 25 percent of tenant-paid projected savings and 75 percent of owner-paid savings. The organization also covers the cost of the ASHRAE Level II water and energy audit once they close a loan as a Green Reward.

Freddie Mac Green Up

Freddie Mac’s financing option requires a minimum of 15 percent savings in owner-paid water or energy savings. The government-sponsored enterprise will also underwrite up to 50 percent of the projected owner-paid savings. Freddie Mac also reimburses $3,500 of the ASHRAE Level 1 water and energy audit.