Many Owner Managers who have invested in Yardi struggle to fully utilize its capabilities for customization.
Meissner can help! We can get you into the fast lane for YARDI optimization so that you’re utilizing all the best time and labor-saving features of the software within just 90 days – and getting a much-improved ROI on your technology investment.
Net Energy Metering 2.0 is a program that credits your electric bill when your solar system sends surplus energy back to the grid. Luckily, you have until April 13th to register projects under the NEM-2 rules, which includes a 20-year grandfathering period.
The system does NOT need to be installed by this deadline to qualify. Only the application for a proposed solar project must be received and acknowledged by the relevant utility (SDG&E, SCE). The project would then have a 3-year window to be installed or not installed.
The new NEM 3.0 will take effect in April 2023. Under NEM 3.0, the credit value for exported energy will have a reduction of approximately 75% in credit for power that’s exported back to the grid.
Do you spend more time than you’d like overseeing accounting when you’d rather be focusing on your business goals? 💸
Many commercial property owner-managers just want quality reporting on their assets, but find themselves sinking more time than they’d like into accounting functions. Here’s how we can help you devote more time to the business you enjoy!
Solar is a low-risk, high-return financial investment. Solar pays for itself in a range of 3-10 years*, and solar PV systems have a lifespan of 25+ years – that’s 15+ years of no-cost energy. The time it takes to break even (solar payback period) depends on several factors, such as the cost of the solar PV installation, property location, and current energy consumption.
The Inflation Reduction Act (IRA) of 2022 establishes and extends the federal Investment Tax Credit (ITC) for solar photovoltaic (PV) systems at a rate of 30% of the total PV system cost. The 30% ITC was extended for 10 years, through 2032. Unlike tax deductions, this tax credit can be used to directly offset your tax liability dollar for dollar.
Boost your cash flow by significantly decreasing the operating costs for energy and creating roof rent income for Ownership. Solar energy could become a source to generate additional revenue through monetizing assets like roof space and parking lots.
Installing solar panels will significantly decrease tenant electricity bills. Not only will you attract tenants looking to save money, but you will also be more likely to attract tenants interested in sustainability practices. Solar Energy increases the reasons for tenants to renew their leases and enhances the property value for future tenants. You’ll be making the first step in promoting an eco-friendly community and building a greener reputation for your business.
The sun is a source of clean, sustainable, and renewable energy. Utilizing solar energy will not only reduce your carbon footprint and decrease pollution, but also safeguard your business against rising grid prices and boost your property’s value.
*The California Public Utilities Commission (CPUC) has finalized the rules for Net Energy Metering 3.0 (NEM-3), which will take effect on April 14, 2023. The rule change results in a significant reduction in the value of energy exported to the grid from an onsite solar energy system. Currently, under NEM-2 solar systems receive close to retail-rate for any electricity that is not used onsite and sent back to the electricity grid. Under NEM-3, the credit value for exported energy will be in line with wholesale rates, which average $0.02-$0.05 per kWh (a ~70% reduction in value). Luckily, there is a short window of time until April 13th to register projects under the NEM-2 rules. The qualification for ensuring a system is granted NEM-2 status, which contains a 20-year grandfathering period, do not require the system to be installed or operational by this deadline. Rather, an interconnection application must be submitted to the relevant utility (SDG&E, SCE or PG&E) and marked as complete by the deadline. The project would then have a 3-year window to be installed.
One of the challenges of managing a commercial real estate portfolio is scaling your team as the portfolio grows 📈 and shrinks📉. We can help you solve the “right-sizing” challenge that comes with hiring and staffing. Leslie Mittanck, our Director of Accounting Services, speaks on this in the video below!
Our role as asset manager helps our clients with looking at things from a bigger picture perspective, especially regarding something as important as legacy real estate transition.
As real estate advisors, how we support the family differs from a standard property manager or asset manager. We focus our investment strategy on how to achieve family goals and investment goals, while an asset manager focuses on transactional business such as leasing, construction, and financial reporting, and a property manager focuses on day-to-day operations. The real estate advisor understands real estate, the strategies for protecting the asset and improving property value, and makes recommendations for best times to hold, sell, purchase, or refinance a portfolio according to the family’s goals. In formulating a legacy transition plan, we analyze the assets and family needs, formulate a plan, gain consensus, and then implement it.
To us, adding value to a family also means providing good strategic and operational advice and earning the trust of the family. A complex mix of real estate asset and property conditions create the need for our specialized expertise. The condition of the asset may entail its financial condition, occupancy stability, capital needs, as well as the family’s financial needs – how can the assets meet the family goals? The answer can vary widely between families, and we take a deeper look and give advice with these questions in mind to enable the family to make the most informed choices, whether it’s for family cash distributions, desire for capital gain, or goal to expand the portfolio and income stream. We consistently look at operating budgets, financial alternatives, capital plans, and monitor income/expenses, and provide quarterly reporting and meetings with Ownership to ensure we are on the same page.
Many of our clients are family offices and we have over 15 years of experience working with families that have commercial real estate assets that have, or will be, transitioned to next generation family members. In different cases, this can mean that we work with the 1st generation patriarch/matriarch, 2nd generation family leaders, and even with 3rd generation family leaders and their Trustee. Whether a client needs to execute an existing succession plan, create guidelines for family governance, or develop a “road map” to accomplish their specific needs and goals, we can help.
Meissner Commercial Real Estate Services is a company that specializes in advisory services, asset management, and property management. We address property level issues, long term planning, and capital needs. Meissner has been in business for 30 years. Our Real Estate product types include office, retail, and industrial, and our portfolio has market value of over 1 billion, and our asset values range from $20M to $100M.
On June 15th, R. J. Kelly interviewed Tim Meissner, our Founder & Chief Executive Officer, in a webinar on real estate solutions for property owners, focusing on how to increase returns on real estate, minimize taxes, and keep more profit. See the webinar recording below:
Tim has over forty years of experience in commercial real estate operations including advisory services, asset management, acquisition, disposition, finance, leasing, construction, and property management🤝📈. His career path has been focused on commercial real estate transactions and the formation of Meissner CRES as an operating business that manages a client portfolio valued in excess of $1 billion.
📢 The California Water Resources Control Board adopted emergency regulations earlier this month due to the state’s ongoing drought. Effective June 10th, watering commercial grass not irrigated by reclaimed water must cease🚱.
Due to these new statewide water conservation measures, we are working with our landscaping service providers and the various local water districts to ensure compliance with the new regulations 💧. We will be placing lawn signs on all properties with affected turf to advise the public that turf irrigation is turned off to comply with California drought requirements.
We are exploring renovation options with our various landscape service providers to install drought-tolerant plants🌵 and low water irrigation systems for properties where it makes sense.
The California Water Resources Control Board updated regulations may be found here: https://lnkd.in/gmiy7-7k
Interested in learning more about estate planning family strategy? 👪🏠 Tim Meissner spoke on our advisory type of work and what processes those entail. Watch the clip to find out more! 🎞️ See the first part here:: https://meissnercres.com/blog/all-properties/tim-on-family-strategy/
Interested in learning more about estate planning family strategy? 👪🏠 Tim Meissner spoke on our advisory type of work and what processes those entail. Watch the clip to find out more! 🎞️
