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Sustainability in Property Management

Many things come into play when managing a property, but a good property manager will always say that the most important thing when managing a property is keeping tenants happy. Of course, a positive byproduct of keeping tenants happy is that satisfied tenants will allow a property manager to make more money. Tenant satisfaction is crucial, but something that has been at the top of industry leaders’ minds in recent years has been the importance of sustainability in property management. This subject is especially important because it affects the environment as a whole, the city in which property managers and tenants work, the revenue that a property generates and the satisfaction of the tenants that utilize their properties.

Sustainability is typically not the cheapest option up front. Whether it is switching out the light bulbs in a property to make sure they are LED and not incandescent, investing in water-saving technologies or making HVAC improvements, the money and time that it takes to make your property more sustainable sometimes gives property managers some doubts. Luckily, studies have shown that opting to pay a bit more money up front to make your building more sustainable will save you money, decrease your building’s carbon footprint and keep your tenants happy in your property.

There are many things to keep in mind when deciding what steps toward sustainability are right for your property. In the paragraphs below, find ways that property management can become more sustainable.

One option is becoming a Leadership in Energy and Environmental Design (LEED) certified building. LEED standards are followed by businesses everywhere and will allow you to make your building as sustainable as it can be while maximizing on efficiency and cost. LEED certifications are available to aid in every step of the process, including building, operations and maintenance. LEED for Building Operations and Maintenance offers guidelines and standards for buildings that are already in existence and will guide property managers in the steps they need to take in order to make their building greener and more efficient.

Managing a property along with managing that property’s carbon footprint may seem daunting and possibly disorganized. To streamline and simplify this task, the EPA created the ENERGY STAR Portfolio Manager®, which allows property managers to track their building’s energy and water consumption along with the building’s greenhouse gas emissions. ENERGY STAR Portfolio Manager® is an online tool that will make it easier to keep track of the efforts that are being made toward sustainability and track their effectiveness.

Solutions such as green roofs and solar panels are wonderful, if this is something that a property manager deems right for their property and has the time to implement. Even if these things are out of your reach, small steps such as making sure that things are properly installed in a property are just as important in greening your property. Another small but important way to lower the impact of a property is to make sure that the materials used in building, renovation and installation are sustainable and renewable.

Tenants know the value of sustainability, and many want to be able to share that they are a part of a greater effort to curb emissions or minimize a building’s carbon footprint. Sustainability practices allow property managers and tenants alike to take pride in their efforts and to increase their revenue. Taking steps to ensure that your property management includes a focus on sustainability will help save property managers and tenants money, help save the planet and generate a greater return on investment in the long run.