We recently completed a major lighting upgrade for one of our clients, a 62-unit apartment-style building. The project involved swapping out 118 light fixtures, improving both efficiency and the overall look of the property.
Here’s where it gets interesting:
Total project cost: $50,000
Eversource rebate: $23,000
Remaining balance: $27,000, financed over 5 years right on the client’s electric bill
By taking advantage of utility incentives, this project essentially paid for itself. In fact, after all is said and done, the building now enjoys a net electrical savings of $110 per month – all while reducing energy usage and maintenance costs.
This is a great example of how energy upgrades don’t have to be a financial burden. With the right planning, resources, and partnerships, a $50,000 project can feel almost…free.
Opportunities like this don’t happen by accident. A knowledgeable management partner understands how to leverage rebates, financing options, and vendor relationships to maximize savings and minimize out-of-pocket costs. Without the right guidance, projects like these can end up costing far more, or worse, never get off the ground.
Insight recently completed a full roof replacement project at a condominium in Southington. From initial planning through final inspection, we coordinated every phase of the job to ensure minimal disruption to residents and long-term value for the association.
We secured a $280,000 loan, on behalf of the association, through Windsor Federal Bank to fund the project. Insight guided the board through the loan process — from application to unit owner approval — ensuring the financing was structured to meet the community’s long-term financial goals.
Our team sourced multiple bids, reviewed warranties and materials, and worked closely with the board to select the most qualified roofing contractor. We then managed communication with residents, oversaw scheduling, and ensured the contractor remained on time (although Mother Nature had other plans) and on budget.
Throughout the project, numerous unit owners commented on how professional and courteous the roofing team was. Residents were extremely pleased with both the process and the final outcome.
The project was completed safely, efficiently, and with excellent workmanship. This is another example of how insight delivers proactive management and oversight for capital improvements — protecting the association’s investment and giving homeowners peace of mind for years to come.
When Insight Real Estate & Management took over the management of Broadview Condominiums in early 2024, we didn’t anticipate that we’d face a critical electrical emergency within months. This incident tested our crisis management capabilities and commitment to resident safety.
On a Thursday evening, the North building began experiencing power outages. We immediately contacted Eversourse to assess the situation. Eversourse reported back to us that the issue was not on their side of the power lines. We called in Taylormade Construction, one of our trusted electrical contractors. They inspected the electrical equipment and noted that due to an undetected water leak from the underground conduit, the bus bars on the switch gear built-up corrosion and shorted out. Unfortunately, he had prior commitments and could no longer assist. We then called QC Electric, which arrived late in the evening. They proved invaluable in coordinating efforts with Eversource and the fire marshall – who was called in for fire watch. QC’s work continued overnight, ensuring that a temporary solution could be put in place and that the South building’s power could remain on during this power outage.
The following day, three other electrical contractors were called to provide solutions. Ultimately, only QC provided two options: renting a 1600 kVA generator or temporarily installing a 1200-amp disconnect they sourced from Boston. The generator cost was approximately $250,000; thus, the only realistic option was installing the 1200-amp disconnect. After securing emergency permits and coordinating approvals from city officials and Eversource’s metering division, QC began removing the damaged gear and putting measures in place to ensure building code compliance with the temporary service installation. QC’s team worked overnight into Saturday afternoon.
By Saturday night, power was fully restored after Eversource completed the transformer work. The efforts over 72 hours demonstrated a robust and coordinated response, with our team managing vendors, securing permits, and maintaining transparent communication with residents and board members throughout the process.
Key Takeaways:
Effective collaboration with vendors and officials is critical to successfully managing emergencies.
Transparent communication builds trust and helps residents feel supported.
Investing in professional equipment inspections can prevent similar emergencies.
We are proud of our team’s swift and strategic response to this incident. It underscores our dedication to safeguarding communities and ensuring resident satisfaction, even under challenging circumstances.
This achievement would not have been possible without the efforts of everyone involved.
When faced with the challenge of replacing roofs for a three-building community, we at Insight Real Estate Management devised a creative, fiscally responsible solution that safeguarded the community’s financial health while ensuring the timely completion of the project. Photos of this project are at the bottom of this page.
The Challenge:
All three buildings in the community required new roofs with in the next 3 years, but the reserves were low, and obtaining a loan was not a viable option due to high costs relative to the amount needed. We had to find a way to finance this project without placing undue financial stress on the community.
The Plan:
Sourcing and Budgeting: We began by sourcing bids from three reputable roofing contractors to ensure we obtained the best value for the project. Once a contractor was selected, their estimates were used to project the costs of the roof replacements for the other two buildings at their respective start dates. This approach provided a clear financial roadmap for the community to follow.
Funding the First Roof: The first roof was funded through a combination of reserve funds and strategic budget reallocations. This allowed us to kickstart the project without introducing additional financial burdens to homeowners.
Developing a 4-Year Special Assessment
Year 1: By the Summer, funds from the special assessment would be sufficient to replace the roof on the second building.
Year 3: Accumulated funds would allow us to replace the roof on the third building.
Maintaining Reserve Health At the end of the four-year assessment, we anticipate the reserve fund will recover to approximately $80,000, positioning the community for future projects and unforeseen expenses.
The Results:
This phased approach, supported by detailed cost projections from the selected contractor, allowed us to complete all three roofing replacements without taking out costly loans or significantly depleting the reserve fund. By balancing immediate needs with long-term planning, we preserved the financial health of the community while delivering a high-quality outcome.
Key Takeaways for Other Communities
Sourcing and Planning: Obtain multiple bids and use realistic projections to inform long-term financial strategies.
Strategic Planning: Start by assessing available reserves and other funding sources to prioritize urgent needs.
Budget Reallocation: Look for areas in the budget that can be temporarily adjusted to fund critical projects.
Special Assessments: Implement assessments thoughtfully and with clear communication to homeowners to minimize resistance.
Reserve Rebuilding: Ensure that your financial strategy includes a plan to replenish reserves to maintain fiscal health.
This project highlights our commitment to innovative problem-solving, financial responsibility, and community-focused management. At Insight Real Estate Management, we understand that every challenge is an opportunity to demonstrate why we’re trusted advisors for the communities we serve.
If your community faces similar challenges, contact us to learn how we can help safeguard your community’s future while addressing today’s needs.
