So after the energy audit I got the results which they were not good! The insulation in the attic was of course terribly inadequate. The windows being single pane glass of course allow lots of radiate heat into the units. None of these things were news to me just confirmation of the age of the property. One of the other things checked included the duct work of the HVAC system. Not only the exhaust side but the supply side.
SO with the results of the new energy audit we began some energy improvements to the property! Hopefully they will allow the residents to have a better living experience at the apartments. We are going to get at least R-30 insulation blown into the attics and get solar screens put on the buildings and lastly get all the HVAC systems and ducts properly sealed. The total cost being about 13K (ouch) but I think that the buildings will perform better and will make the energy usage lower for all of the residents! If nothing else we will keep the city from bothering us about poor results of the energy audit and since we have already started making improvements we are far ahead of the game in terms of correcting any poor energy efficiency performance in our buildings.
Will these improvements result in higher rents? Will they result in a longer stay for our existing and new residents? Will they result in a higher net operating income? The answers to these questions are not readily available. I sure hope that they do. So far we have gotten a few comments about the improvements and I will fill you in on them maybe on the posting.