What Does El Niño Mean For Your Bottom Line
If you have been listening to the weatherman this year you might have heard that this year in an El Niño year. Most people probably did not think about how this changing in the temperature between the ocean and atmosphere in the east-central Equatorial Pacific would have much impact on them beyond some changing weather. However, if you’re a landlord or property manager responsible for multiple units a significant weather pattern could mean saving on items like heating or snow removal or increased spending on flood preparation and roof repairs.
According to NOAA, this year’s El Niño and some other weather factors such as the Artic Oscillation, which influences how cold air and nor’easter affect the country, will affect the states in the southern tier by increasing their levels of precipitation. In addition, across much of the west and northern half of the United States temperatures are expected to be above average while temperatures in the south are expected to be below average. Even California gets some good news with drought conditions expected to improve this season.
The most striking good news for landlords and property managers in the North is that with this winter outlook looking to be 33% to 66% warmer it is predicted that cost related to heating and snow removal will be lower this year. If you’re a property owner or manager located in the Northern United States you may be wondering how much you might potentially save from a warmer winter. The first step in calculating potential winter related savings is to make sure that you have a property management system that can easily report how much you spent last year on heating oil and snow removal. Without the right building management software it could take you hours to collect all the bills and receipts related to last year’s winter costs. RISSOFT’s software for property management comes with essential features for rental property managers and landlords such as an Energy Management system which can create graphic comparisons of consumption and cost over a 4 year period. If you do not have RISSOFT lease management software then you could be wasting time and money because you’re failing to properly track essential items like energy spending, related to your rental property.
This post is provided by RISSOFT Residential and Commercial Property Management Software, specializing in innovative and cutting-edge property management software for all 50 states. Request a demo or contact us today to receive more information. Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.
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