Can you feel it?
The scorching of summer heat?
Record-breaking heat waves well above the three-digit mark are permeating the United States, our sidewalks sizzling like bacon in a frying pan.
Extreme heat events are no longer a distant rarity, but have in fact become an ever-present reality. The Environmental Protection Agency's (EPA) data recently revealed a disconcerting reality – the heatwave season has expanded by 50 days, heatwave events now occur three times more frequently than in the '60s, and their duration has extended beyond what we once considered normal. Urgent action and sustainable choices are imperative to protect the longevity of your properties and the residents that call them home.
Bottom line: heatwaves can no longer be regarded as something to endure; they must become something to expect and plan for.
As such, real estate owners and operators must prioritize ways to maintain the safety of residents while keeping expenses low. Let’s explore how to support your residents and how to manage energy costs during heat waves.
It's no secret that extreme heat poses serious physical health risks. Heat stroke, heat exhaustion, rashes, and a slew of other illnesses threaten the almost 332 million people across the United States. Potential blackouts triggered by high temperatures, could disrupt daily life and limit access to cooling resources. In the sweltering grip of heatwaves, residents bear the brunt of unwelcome additional costs. Residents expect to allocate an average of 3% toward utility costs. But during heatwaves the average rises closer to 10%. Those who reside in affordable housing communities feel the effects even more drastically with an average 8.6%+ for energy expenses spiking to 20+ percent.
Multifamily property owners can play a crucial role in protecting their residents during heatwaves. Try implementing the following measures:
As the intensity and frequency of heatwaves continue to rise, staying ahead of the curve is vital. Real estate owners and investors: consider implementing these six practices this summer to protect your investments.
The most effective strategy that progressive multifamily companies are embracing to save on utilities this summer is leveraging utility data for valuable insights into energy consumption patterns. By analyzing this data, owners can better forecast demand and make informed plans and enhancements to address potential challenges head-on.
Utilities are complex...but Conservice is uniquely positioned to help you analyze and leverage utility data to lower energy costs. We know how to conserve energy during summer, and we learned a long time ago that our success meant being as interconnected and reliable as the utilities we service.
Click here to reduce energy costs and create better places for your people.
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