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When it comes to real estate, everyone is looking to get a deal or to find a way to save some money, or at least looking for value. So, many buildings are taking action to help tenants save money by saving energy.

"People are very proactive in this economy. We need to save as much money as we can with so many cost factors going up that are out of our control like real estate taxes, labor and fuel," says Leslie Modell Rosenthal, a broker for Warburg Realty.

Rosenthal took all the cost-cutting measures she has seen at properties throughout the city back to her own building on East 78th Street, and now the board has passed a stimulus package to help keep maintenance costs down.

"Certainly with the electric we are trying to bring down the cost by lowering the lights throughout the building," says Rosenthal. "Thinking down the line, putting in sensors downstairs so when people pass through the lights go on and they go off when no one is in the area, and some washing machines which will be front loaded. Saving money, saving electric as well."

The building also has swapped all the light bulbs to more energy-efficient ones, and they split the water and electricity meters to separate the commercial and residential tenants. Now the businesses pay their own water and electric bills, which cuts costs for the residents.

The building is even taking extra measures to make sure heating and cooling systems are running efficiently to lower the bills.

Some shareholders are thrilled with the changes and the effort the building is making to save them money.

"I think we have to do something - otherwise our maintenance costs will keep going up because everything is going up," says building shareholder and board member Diane Dee. "So in order to maintain what we have we really need to cut costs."

Dee even started a green committee among the building's residents to help take these measures to the next level.

Since the board has taken action to cut costs and save energy, some tenants have found it has inspired them to modify their personal habits as well.

Now tenants say they are more conscious to turn out lights, or to close doors so cool air won't escape - anything they can do.

This is just one of many buildings taking action these days, but it's these kinds of initiatives that are increasing awareness, and at the same time decreasing costs.