REVENUE OPTIMIZATION & DEVELOPMENT PROGRESS
FUEL COSTS DRIVING EXPENSE GROWTH IN 2022
K-Killam
APARTMENT REIT
Total same property operating expenses were up 5.4% in 2022. The increase was driven by higher natural gas, oil, and propane prices across
our core markets which increased our utility and fuel expenses by 13.3%.
Same Property Expense Growth
2.4%
2.1%
1.6%
1.4%
5.4%
2018
2019
2020
2021
2022
EXPENSE MANAGEMENT
Same Property Expense by Category ($M)
2022 ■2021 % Increase/(Decrease)
13.3%
$50
3.6%
.
improvement
Focused economies of scale strategies and process
$40
.
• Risk management plan
Energy and water efficiency investments
$30
$20
• Continual property tax appeals
.
Employee investment and training
.
• Property-level NOI enhancing technology
$10
$0
General Operating
Utility and Fuel
Property Taxes
2.2%
March 2023 | Page 16View entire presentation