Quantifying the Financial Benefits of Multifamily Retrofits

Philbrick, Donna R.; Scheu, Rachel; Brand, L.

doi:10.2172/1239885

Cited by 3 publications

(2 citation statements)

References 2 publications

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“…While the AHS is a well-known data set, the RHFS is somewhat more obscure perhaps because of its status as a new data set. Previous literature has only used the RHFS in very broad parameters, essentially using income and expense information on a descriptive level (Philbrick et al , 2016). Other researchers have extolled the potential for RHFS as a vehicle for housing research but have acknowledged its underutilization within the housing research community (Cluett and Amann, 2015; Pelletiere, 2013; Weinberg, 2015).…”

Section: Methodsmentioning

confidence: 99%

Living where you work

Carswell

2018

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Purpose This paper aims to examine whether property managers who live on-site within a residential apartment building provide a value-added benefit to the management in the form of cost control and revenue maximization. Design/methodology/approach This research uses two large US data sets that cover operational and financial data of apartment owners/operators and the financial and individual housing situations of renters themselves. The regression models developed were general linear models with operating expenses, rent collection and monthly rent paid as dependent variables, with on-site resident manager status as the experimental variable. Findings This research finds that the value of on-site property managers does not definitively maximize rent revenue, as expected. On-site property managers also don’t show significant reductions in operating expenses, although they are not cost centers either. Individual renter households do, however, pay a significant rent premium for units in communities with on-site personnel living there. Research limitations/implications The limitations of this research include the inability to merge the two data sets and the inability to measure the intangible attributes of the on-site residential manager’s experience. Practical implications As roughly 30 per cent of US rental apartment buildings have some form of on-site manager, this research has some practical implications for multifamily housing investors/owners, a highly visible US building sector. Social implications The action of hiring an on-site residential property manager also addresses issues related to the optimization and efficient allocation of human resources for property management companies. Originality/value This appears to be the first research addressing property managers who live at the site where they also work.

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Section: Methodsmentioning

confidence: 99%

Living where you work

Carswell

2018

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“…A second evaluation in 2013 found that between January 2010 and September 2012 average natu ral gas savings for 21 buildings that completed energy efficiency upgrades through the Energy Savers program was nearly 20 percent, with savings reaching 26 percent during the peak heating season months of November through March (Navigant Consulting, 2013). In 2016, an assessment of thirteen Chicago-area multifamily buildings improved through Elevate Energy's program (Philbrick, Scheu, and Brand, 2016) found that:…”

Section: Elevate Energy Has Directly Implemented Significant Numbers ...mentioning

confidence: 99%

Energy Efficiency as a Tool for Preservation of Affordable Rental Housing: Evaluation of the Efficiency Emphasis in the MacArthur Foundation's Window of Opportunity Initiative

Schwartz¹,

Curtright²,

Ogletree³

et al. 2018

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This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited. Permission is given to duplicate this document for personal use only, as long as it is unaltered and complete. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial use. For information on reprint and linking permissions, please visit www.rand.org/pubs/permissions.The RAND Corporation is a research organization that develops solutions to public policy challenges to help make communities throughout the world safer and more secure, healthier and more prosperous. RAND is nonprofit, nonpartisan, and committed to the public interest. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.Support RAND Make a tax-deductible charitable contribution at www.rand.org/giving/contribute www.rand.org For more information on this publication, visit www.rand.org/t/RR2293

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Do Energy Burdens Contribute to Economic Poverty in the United States? A Panel Analysis

Bohr

McCreery

2019

Social Forces

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For many households, energy consumption represents a non-discretionary portion of their budget and directly relates to quality of life. As researchers continue to study the environmental impacts of energy behavior, it is important to explore how energy consumption relates to socio-economic wellbeing. This paper examines the economic impacts of being energy-burdened in the United States, defined as spending at least 10% of household income on heating and electricity services; energy burdens are partially, but not entirely, driven by income, since energy needs and costs can vary substantially due to housing characteristics, utility rates, and other factors. Using panel data of US household income and energy expenditures during 1999–2017, this analysis demonstrates that energy-burdened households were at about 150%–200% greater risk of transitioning into or extending the duration of economic poverty over a two-year timeframe relative to non-burdened households. This analysis indicates that dedicating inordinate amounts of income to energy services can threaten a household’s economic well-being over time, possibly by preventing a household from engaging in other economic activities or compounding existing economic hardship. These results emphasize the importance of energy assistance and energy efficiency for low-income households, drawing attention to how structures of energy consumption, the welfare state, and social stratification intertwine.

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Quantifying the Financial Benefits of Multifamily Retrofits

Cited by 3 publications

References 2 publications

Living where you work

Living where you work

Energy Efficiency as a Tool for Preservation of Affordable Rental Housing: Evaluation of the Efficiency Emphasis in the MacArthur Foundation's Window of Opportunity Initiative

Do Energy Burdens Contribute to Economic Poverty in the United States? A Panel Analysis

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