Table of Contents
Utility benchmarking is important for all housing providers because it allows them to:
HUD has established requirements for utility benchmarking by multifamily borrowers wishing to qualify for the Green MIP Reduction and for multifamily owners participating in the Better Buildings Challenge.
Housing providers should read this section, refer to their program guidance, and check back periodically to stay current on the details of utility benchmarking requirements for these two programs.
Some HUD programs offer a financial incentive and/or technical assistance that may be used to support utility benchmarking efforts. While the goal of obtaining financial assistance for utility benchmarking should not be the primary motivation for applying to these programs, housing providers should be aware that some opportunities from HUD do exist.
After beginning to practice utility benchmarking, you’ll gain a great deal of insight into your portfolio and be able to immediately take action on low and no-cost fixes, like billing errors and malfunctioning equipment. You’ll also be able to identify the properties that have the greatest potential for improvement through cost-effective green retrofits. In this section, learn more about HUD’s programs that support green retrofits.