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GROW YOUR PROPERTY BY GOING GREEN

10.02.2019

My Post 16
Why jump on the bandwagon of going green? Not only are you able to stand out among other properties, but you will ultimately be cutting costs while gaining more revenue. 

 According to a study from J Turner Research Magazine for MultiFamily, apartment shoppers and current renters are increasingly looking at green features as must-haves. Millennial renters are claiming they would even pay more to live in environment friendly housing. The research conducted from the survey gives us insight on the top 3 green features that multi-family residents value the most:


 

 

1. Energy efficient appliances

 The most important and highest ranked green feature in apartments is energy efficient appliances. This is not only beneficial for tenant use but property owners as well. In most cases, local and state government and utility companies will give you an incentive or rebate when you implement energy and water saving improvements. Low-energy lighting, Low-flow toilets and shower heads are examples of appliances that can be written off. Low-energy lighting can also last twice as long as regular light bulbs, saving you from continuously replacing them. Utilization of these appliances ultimately will cut costs and the property will become more favorable. 

Walkabilty    

                                           

2. Walkability

Walkability is the proximity in which tenants can easily get to stores, work, restaurants, and public transportation without using a car. This green feature is ranked second on the list when renters are shopping for new apartments. It has been shown that tenants are not only pushed to more social interaction but will add more value to the businesses around the area because of the easy access. When businesses become more popular and valuable, your property does as well.

 

3. Recycling

Recycling being the simplest and least expensive is the 3rd highest ranked green feature that attracts and keeps renters. With almost half of Americans living in multi-family homes, recycling in all of them would significantly reduce the nation's waste. As a property owner, you can also benefit from recycling financially with lower trash pickup costs, additional revenue, and saving more space in landfills.