Preparing for Heating Season

The heating season is fast approaching and this is the time that buildings should make certain they are prepared, says Ira Meister, president and CEO of Matthew Adam Properties, a leading New York property management firm.

If the annual preventive maintenance has not been done arrangements should be quickly made to do this.  Cleaning the tubes and an overhaul of the system increases its efficiency and prolongs the life of the equipment.  Any repairs should be done prior to the beginning of the heating system to avoid breakdowns or service interruptions during the winter months.

If you haven’t done so, be sure to contract with an oil or gas company for the winter.

“We recommend locking in a rate at the beginning of the heating season,” Meister says.  “This protects the property if prices go through the roof during the winter due to severe cold or an international crisis.”

With the significant number of buildings Matthew Adam Properties manages, in fact more than 100, it can use its bulk purchasing power to reduce the cost.

“With our knowledge of energy procurement and ESCOs (Energy Service Companies) and our bulk purchasing power, we can purchase oil, electricity and gas at excellent rates for our properties. Unlike many of our competitors who add a charge for their services, all the savings goes to our clients, and this can be considerable,” Meister says.

While not limited to the beginning of the heating season, boards and the property manager should periodically explore ways to reduce costs by converting to natural gas or installing energy-reducing systems such as motion detectors in such places as stairways or storage areas.

“There are numerous government grants and tax savings available for certain conservation installations and we advise boards on how to qualify for these,” Meister says.