Pub. 6 2021 Issue 3

14 5 Ways to Enhance Your Property’s Green Initiative By Brittany Benz, Rae Parker C ommercial and residential buildings account for 39% of the carbon dioxide emissions in the United States. Is your property management company doing everything it can to be more sustainable? Now more than ever, it’s essential to make sure you’re investing in green initiatives, not just because it’s better for the environment but because your business will depend on it. The Growing Demand for Sustainability According to a survey by Forrester, 32% of consumers prioritize companies that are actively reducing their impact on the environment. Today’s renters don’t just like sustainable features — like high-efficiency appliances and smart thermostats — they expect them to be already built-in. As more millennial and gen z renters enter the market, this demand is only going to increase. And it’s not just renters; investors will also be looking for buildings that are LEED-certified and eco-conscious, too. Nielsen reports that 81% of consumers worldwide believe it’s very important for companies to have environmental improvement as an objective. If you’re not actively improving your sustainability efforts and outfitting your units with the latest energy-saving technologies, you’ll be at risk of falling behind the competition. By making it a point to prioritize sustainability now, you can stay ahead of the curve, attract more renters, boost profitability and better the planet. Here are five ways you can improve your green initiative: 1. Install Energy Efficient Appliances The majority of renters (81%) are interested in having Energy Star Certified appliances and 79% are interested in having a high- efficiency washer and dryer, according to the NMHC / Kingsley Associates Apartment Resident Preference Report. Based on an article by Globe St., 69% of residents were interested in living in an energy-efficient or green building and are willing to pay more to do so. If your building doesn’t already have energy-efficient appliances, then this is a simple and affordable way to increase desirability and cut back on your energy consumption.