In today’s rapidly evolving real estate market, there has been a dramatic shift in the focus and topic of sustainability. It is no longer an ethical choice but a necessity in our environmentally conscious world. Sustainable practices in property management are good for business, the community, and the environment.
Below are some sustainable practices that can transform standard property management in a world where environmental impact is being thoroughly scrutinized and attracts discerning tenants and commands higher rents.
Energy optimisation
A critical area for sustainable property management is energy optimalization. Upgrading to energy efficient appliances, installing highly efficient HVAC systems and smart thermostats, upgrading to energy efficient windows and transitioning to renewable energy sources such as solar panels, are some of the advanced solutions.
Properties retrofitted with these technologies offer considerable operational cost savings and are popular with eco-conscious tenants.
Advanced water management systems
Water conservation is becoming an important topic, especially in these days of climate change where regular rainfall is not guaranteed anymore, and water is becoming a scarce resource. Water conservation is a priority and implementing advanced water management systems has become front of mind. Efforts like the installation of water efficient landscaping using drought resistant plants and irrigation systems, and low flow shower heads and toilets can significantly reduce a property’s water footprint.
Installing such systems is vastly beneficial as it reduces the overall utility expense and enhances the property’s operational efficiency and appeal.
Adopting zero waste initiatives.
A comprehensive recycling program that provides easy access to recycling instructions and bins encourages tenants to recycle. When this is combined with an organic and electronic waste diversion strategy, a cleaner and more suitable community environment is created.
Eco friendly maintenance and construction products
Opting for environmentally friendly green cleaning products goes a long way to support environmental conservation and speaks volumes about a property’s commitment to sustainability. Utilizing recycled, locally sourced materials can significantly reduce a building’s ecological footprint.
Enhancements in green spaces and air quality
Creating lush green spaces and attempts to ensure high quality indoor air are useful for tenant health and well-being. When a property incorporates plant light and natural light in its structures, tenants are offered a healthier living environment, which is highly valued in today’s way of life.
Keeping tenants involved
Engaging tenants by asking for their participation, fosters a community-based approach to environmental responsibility. This type of engagement can result in higher tenant satisfaction and longer tenancy duration.
We have a comprehensive property management service where we handle every occupational and operational detail of property management. Find out more by contacting us or calling us on 604 695 1000.