IREM Details How to Cut Energy Consumption and Costs

June 21, 2005
The institute’s latest key report provides energy management advice

The Chicago-based Institute of Real Estate Management (IREM) has released A Practical Guide to Energy Management: Enhancing the Bottom Line, the fifth in its series of key reports. Recognizing the challenges facing real estate managers relating to cutting energy costs and consumption, the institute’s report outlines practical steps to make a positive impact on property performance. Also included is information on:

  • Creating and implementing an action plan to improve energy performance.
  • Purchasing energy economically (i.e. working with utilities, seeking special rates, aggregating power purchases).
  • Reviewing utility (electricity, gas, etc.) bills and learning to understand them.
  • Encouraging changes in occupant behavior.

The report also recommends that real estate managers be fair with tenants in respect to pass-through charges, and that they discuss the advantages of submetering. According to IREM, “Because energy management should be a team effort, [the report] outlines ways to mobilize a team and individual members.”

The report is authored by John M. Klein, Sharon L. Levin, and Deborah Clouter. To purchase a copy of A Practical Guide to Energy Management: Enhancing the Bottom Line, access the IREM store on the institute’s website (www.irem.org) or call IREM toll-free at (800) 837-0706, ext. 4650. The report is priced at $39.95 for IREM members, and $49.95 for non-members.

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