Market rate apartments and condos are currently experiencing pressure on non-controllable operating expenses such as real estate taxes, insurance and utilities. At the same time, construction costs are at all time highs. The resulting pressure on NOI is intense and any opportunity to increase this key driver of asset value will typically be evaluated.
NEP has been innovating solutions around NOI for nearly 20 years. We started by designing, installing and managing smart electric and water distribution systems. Essentially these are microgrids without the generation. They form a solid foundation for future technology enhancements that reduce consumption and cost.
Since our inception we have relied on the feedback from strong relationships fostered with 60+ quality developers and property management firms. We listen intently to what they say and continuously innovate to provide maximum value and resident experience. Today we continue to build microgrids and are layering in smart devices and controllers that enable a layer of operational benefit never before seen in multi-family.