Do you know how efficient your property is and is it really that important?
Having a property that is more energy efficient and sustainable not only helps you save more money due to your lower energy usage it also has a positive impact on the environment.
One such company that is making a difference and improving the energy efficiency of apartment buildings is Smart Blocks. The company was developed in partnership with Strata Community Australia, City of Sydney, City of Melbourne; Owners Corporation Network of Australia and Green Strata, and receives funding from the Department of Industry as part of the Energy Efficiency Information Grants Program.
The company is all about educating owners and managers of apartment buildings to help them improve their energy efficiency rating, especially within the communal areas, where up to 50% of the energy use in the communal areas of apartment blocks is derived from car parks, swimming pools and hallway lights.
The company also states that residents of medium and high density apartment blocks tend to use 25% more energy than those in detached homes. By improving this efficiency owners are able to save significant amounts which can bring you closer to capital gains quicker, but it can be difficult to know where to start and what to do.
Recently, Smart Blocks won the Melbourne Award for contribution to sustainability by a community organisation, and the Melbourne Awards is the city’s highest accolade.
So what exactly does Smart Blocks do? The company provides an online toolkit which provides owners and managers the steps required to save energy within the common areas of an apartment block. The toolkit provides everything needed to register a building, create a business case, as well as identifying projects that can help improve the energy efficiency and prepare a case for implementation.
There are various aspects that can be looked at to make an apartment block more efficient including, lighting, water systems, heating and cooling; ventilation, pools and amenities and solar systems.
By using Smart Blocks or equivalent companies that focus on energy efficiency, this is one way that you can save money and increase your wealth for further investment properties. To save money straight away you can look to buy a property that has fewer communal facilities such as a pool or gym which will help keep your costs and strata costs lower.
As more and more people are turning to apartment living, there are big savings that can be made here just be being more green and might be something you want to look at going forward.