How To Save Utility Costs In Your Rental Apartment Building By Shamon Kureshi
My
existing clients and other landlords frequently ask me what is the best way to
reduce utility costs on their apartment buildings.One of the simplest solutions is to change all of the
toilets to more efficient, low volume models.
In
2009, the City of Calgary expanded its residential toilet rebate program to
include multi-unit properties.Since then, approximately 2500 water-guzzling toilets have been replaced
in local apartments, condos, and other multi-unit dwellings.This policy of providing a rebate to
property owners is consistent throughout Canada and most cities in the US as
well.
For
each 13 or more liter toilet the gets replaced, the city of Calgary arranged a
rebate of $50.00 to be applied to the building’s monthly water bill.In one of our buildings, replacing 250
old, high volume toilets mean a rebate of $12,500.00.Considering the value of the rebate, we note that we
wouldn’t have been able to convert to low flush toilets at such an accelerated
pace without government help.
Not
only does the rebate help to subsidize the capital cost of the toilet
replacement, but immediate reductions in water consumption and sewage disposal
charges are observed, bringing the payback period to within a year for an
average apartment housing two tenants per suite.After that, the return on investment works out to over
$69.00 per tenant per year.The
final tally indicated the 250 toilets replaced in the complex translated to
over $15,000.00 per year in water and sewer utility savings.
So
who is taking advantage of the program and all of these savings?The city of Calgary has approved
applicants ranging from single-family residential landlords to large multi-unit
residential buildings that may replace up to 500 toilets but most other cities
have no limit what so ever.
The
application process is extremely simple and the requirements are clearly
outlined on your local town council website.You can access both the application and the requirements for
approval through most general reception telephone inquiries or by asking a
salesperson at a local plumbing store.
Even
the selection of a quality toilet has been made easy since the city created its
eligible low water use toilet list, which includes over 25 different
manufacturers and well over 150 models.Among the qualifications to make the final list, toilets had to meet
standards set by an independent maximum performance test, which ensures the
toilets are capable of removing greater than average mass loadings in a single
flush.
How
long do you have to take advantage of such a rebate program?Most cities offer these incentives over
a 3-5 year period; so applying sooner rather than later will assure you get in
on the opportunity while it remains available.
Keep
in mind, the savings and rebates resulting from this program may be the single
greatest return on investment you can make to an apartment building, and it’s
easy too!Toilet replacement is
often completed by building managers or other staff and a random sample of the
newly installed toilets be conducted at no charge by your local building
inspector.
About the Author
Shamon Kureshi is the founder and CEO of Hope Street Real Estate Corp, a Calgary, Alberta based industry leading team of rental professionals whose goal is to be the best Property Managers Calgary has ever been offered. The firm provides rental homes to thousands of individuals and families in a variety of sectors ranging from starter homes to executive mansions.