Applying Green Principles In Property Management

A guest post by Samantha Harvey

With sustainability becoming more important to the general population, there is an ever-increasing necessity to provide eco-friendly properties. The rise in popularity of green technologies has led an industry that was once seen as expensive and niche-based into one that has competitive prices for many aspects of the building process. With the decreasing initial price disadvantage combined with the always present efficiency positives, the green movement presents a good deal of incentive to implement more eco-friendly resources. With the majority of greenhouse gas emissions coming from buildings, incorporating sustainable processes in homes is vital for curbing the impact of global warming.

As a property manager, the bottom line is the strongest guide as to how a property is to be managed. Incorporating green strategies can be a very productive aspect of property management. A major incentive for providing eco-friendly aspects to homes are the tax breaks, whether on a local or national level. Whether it is windows, heating systems, or solar panels, incentivized government programs are out there waiting for people to take advantage. Along with tax incentives, the strategies of increased efficiency provide savings in the operating costs of residential buildings. In cases where utilities are included, the bottom line effect can really add up. If utilities are not included, the potential renter will, or at least should, recognize that their own personal utility bills would be lower. This provides a key advantage over non-green buildings where potential customers will be left to wonder how inefficient their potential home might be.

Taking advantage of perceptions, good and bad, provides another opportunity for property managers to keep their bottom line strong. Creating an eco-friendly living environment can be a powerful marketing tool that keeps the properties filled. As previously stated, the green movement has been initiated into the mainstream consciousness. The reasons behind this are twofold: the growing recognition that the Earth’s resources are being taxed by its people and the need to change that, and the cost-effectiveness of more efficient models of building. Taking advantage of this newly invigorated social consciousness by offering people what they want creates a boon of public relations goodwill that will keep property managers busy with potential customers.

One final eco-friendly strategy that can help your bottom line is creating a paperless interface for your customers. Monthly statements, contracts, leases, and receipts are all things that can become paperless. This allows you to save paper for only the most necessary of jobs. This is an effective way to kill two birds with one stone. With the rise in technology, from phones to tablets, more people are keeping digital records, so why not join in this movement and save some money on paper along the way?

With competitively priced green technologies, tax incentives, the obvious efficiency benefits, and the public relations goodwill, updating and expanding properties into more eco-friendly operations provides a strong compliment to your bottom line. Plus, it is becoming increasingly evident that it is the right thing to do. It seems to be a rare occasion where the right thing and the profitable thing travel the same arc, but the eco-friendly property is one of those cases!

Courtest All things Property Management