When FEMA's new Risk Rating 2.0 pricing plan went into effect in April, the agency said it was more equitable and better reflects flood risk. The result is rate increases that will average more than 100% in coastal states like Louisiana and Florida. Some parishes in southeast Louisiana will see rates go up on average more than 500%.
The newest report from Trepp is on utilities, including electric, water, gas, telecommunications, and other essential services. Derived from Trepp’s property line-item financials, these utilities averagely account for 15-20% of the overall operating expenses for a multifamily property.
The Resource Recovery Facility (RRF) in Doral was knocked offline by a fire that began Feb. 12 and burned on and on. While the county continues to assess the viability of bringing the RRF back online in a limited capacity, no permit applications have been submitted to date.
Management of building energy use has become an important CRE topic. Reducing expenses in areas like energy can contribute significantly to the bottom line.