approached about why they aren’t participating in energy savings programs, many
multifamily property owners and managers are concerned that they won’t recoup
their investments. “But the truth is, the three-year payback on investing
in energy conservation would be a 33 percent capitalization rate,” said Scott
Wilkerson, chief investment officer for Ginkgo Residential, during a session at
the 2014 NMHC OpTech Conference & Exposition.
He emphasized that, based on an analysis, the total savings from replacing $3 toilet flappers alone, spending a total of $7,000, was consistent and resulted in an impressive $6,000 in savings per month. “The flapper is so cheap, changing them every few years makes sense and properties can come out so far ahead,” added Wilkerson,
Panelist Mary Nitschke, director of ancillary services for Prometheus, said that they had “a silent, but deadly,” flapper leak in 66 percent of toilets in just one of their properties after conducting a related analysis.
Toilet flappers were also
mentioned in another OpTech session by panelist Johan Schein from the
Environmental Protection Agency, who said that just “one faulty flapper” could
cost as much as $700 a year.
Nitschke also outlined other energy savings that they have achieved through using incandescent lighting because it’s cheaper to put in a LED light bulb due to its longer lifespan. “In addition, since you’re typically paying maintenance hourly anyway, this frees them up to do turnovers versus changing light bulbs,” she said.