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Follow on Google News | greeNEWit Offers Assistance Implementing the New HUD Utility Allowance Methodology RequirementsNew HUD Utility Allowance Requirements Present an Opportunity for Multifamily Properties to Maximize Rental Income
By: greeNEWit greeNEWit, a leader in energy analysis and resource conservation tactics, offers support in implementing the new methodology requirements and, in addition, performs energy profile analysis and retrofit management for O/As affected. greeNEWit is approved to calculate these utility allowances for the Federal Low-Income Housing Tax Credit, Section-8 and Public Housing programs. greeNEWit’s calculation methods comply with the utility allowance regulations set forth by the IRS and provide an accurate assessment of tenant consumption. The firm’s methodologies for determining utility allowance calculations include the: Utility Provider Data Method, Engineered Energy Consumption Model and the HUD Utility Scheduled Model for HUD Regulated Properties. Along with the professional energy analysis, greeNEWit provides reporting concurrent with each method and can help multi-family properties identify energy savings between 5% and 15% on average. Decisions concerning which methodology is used, varies depending on property status, client preference, effectiveness and ease of use. Over the course of a three-year period, this methodology should decrease the cumulative administrative burden to analyze and request adjustments to utility allowances. Owner financing options regarding the possible acquisition of software to perform the analysis and a one-time management add-on fee during the first year of implementation is also discussed in the Notice. If your residents receive a utility allowance, these new procedures will impact your contract renewal or rent adjustment submission. If you’re a mutlifamily building owner/agent or an accounting firm and would like to to learn more about our HUD utility allowance services, email Michael Santiago, Director of Multifamily Energy Solutions at michael.s@greeNEWit.com. About greeNEWit greeNEWit is the national leader in sustainable community development and smart grid integration. The firm develops, manages, and implements net-zero trajectory assets to help make communities more resilient, sustainable, and economically prosperous. By working with residential, multifamily, and commercial real estate, greeNEWit has an expansive perspective on how end energy consumers understand, interact, and engage with their energy profile. With clients that include some of the most successful developers and managers of student, military, and multifamily housing, greeNEWit is a tech-enabled service business in the growing clean-tech space. Headquartered in Columbia, Maryland, greeNEWit is expanding nationwide. For more information, visit: http://www.greenewit.com. End
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