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Sustainable Multifamily Goes Mainstream

Sustainable Multifamily Goes Mainstream

Apartment buildings are the perfect proving grounds for sustainable building design, benefitting renters and property owners alike. Today’s designers are incorporating sustainably-sourced building materials and green public areas into energy-efficient buildings that save tenants money. These forward-thinking sustainable multifamily properties are growing more popular each year with dedicated renters, and that’s positive news for occupancy rates and market value.

Green upgrades for everyone

The best recycling in the building industry is re-using an existing property and expertly leveraging energy efficiency upgrades and healthy building design. Replacement windows and a move to LED lighting are easy and inexpensive ways for property owners to begin. When it’s time to upgrade exteriors, insulation, roofs, or interiors, choosing sustainably-sourced materials that contribute to a healthy home, and the planet, is easier than ever. If you already own an investment property, upgrading to a more sustainable multifamily property may be easier than you think. 

Next step: Passive design

Naturally, as sustainable building standards tighten, builders are challenged to outdo themselves as they now strive for passively designed buildings. Passive design uses solar heat gains to heat and adequate shade and ventilation to cool the living space. Along with insulation and structure sealing, or encapsulation, requirements, this industry trend hasn’t been affordable until recently. 

New building projects using passive design don’t have high-end surfaces, but energy savings and indoor air quality are becoming the most popular industry trends. 

Creating sustainable multifamily spaces is possible with our help

Energy-conserving shared walls come with some challenges unique to sustainable multifamily properties. If you don’t know where to start when incorporating some environmentally friendly improvements into your property, contact Class A Management. Our managers can address the sustainability of your property and help you conserve a lot of energy, reducing overall management costs and increasing your returns. 

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LED Bulbs Replace Mercury-laden CFLs

LED Bulbs Replace Mercury-laden CFLs

Those curly-looking light bulbs that were the “wave of the future” just a few years ago will soon go the way of the dinosaur. New technology has made light-emitting diode (LED) lighting the trendiest energy-saving bulb. Brighter than CFLs and containing no toxic heavy metals, LED bulbs are becoming the more affordable green alternative to incandescent and CFL light bulbs.

Advances in lighting slow to take off

Just a year or two ago, you could expect to pay $10 for a single LED bulb. That expense was a non-starter for most property owners, who opted for the less-reliable CFL. With a shorter life span and pesky mercury, CFL bulbs proved to be less of a sustainable lighting choice than developers had hoped, but they were cheap. 

When they burnt out or were broken (yikes), the responsibility to replace them fell on tenants. They mostly opted for the now-obsolete and heat-generating incandescent bulbs. Incandescent bulbs cost less and don’t have mercury, but they also raise the electric bill.

LED Bulbs are more affordable than ever

Far from $10-20 a pop these days, energy-sipping LED bulbs are brighter and cheaper than ever. Bulk contractor pack prices for 60-watt-equivalent LED bulbs are approaching traditional incandescent costs. Plus, they’re well worth a little extra investment. 

An LED bulb uses 40 percent less energy than even a CFL. It will also last 20 times longer, sometimes many years, and it doesn’t harbor toxins that could harm your tenants. The best light bulbs of 2023 also allow tenants to customize their space and provide the convenience and safety benefits of smart technology. 

Find sustainable solutions with Class A Management

The experts at Class A Management have an eye for details. We know that some solutions to big problems, like energy bills, could be as small as a light bulb. Investigate the benefits of LED solutions, then hire Class A Management to maximize the return on easy to implement updates. 

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Engaging Tenants in Sustainability Efforts

Engaging Tenants in Sustainability Efforts

The property management world is going “green,” but it’s no longer just a marketable catchphrase. It’s an industry mandate. Responding to consumer demands drives the rental market to provide specific amenities and adjust rents accordingly. Answering the clarion call to sustainability is no different. Energy efficiency and sustainable building are cost-effective for investors and renters alike; so, it’s time to jump on the bandwagon and let tenants know we’re in this together. 

By engaging tenants in sustainability efforts, you will encourage tenant loyalty and make your property more attractive to prospective tenants searching for environmentally friendly living spaces. 

Energy efficiency boasts immediate cost-savings

Eco-friendly choices like LED lighting and Energy Star appliances don’t require much electricity. That means lower utility bills for renters. Renters who know how much money they’ll save on energy costs with upgraded insulation or windows are more likely to support sustainability efforts when their homes become temporary construction zones. Use one of the government’s handy energy calculators to let residents know how much money they can expect to save. 

Informing your tenants about potential savings will help with engaging tenants in conversations that could lead to attracting other tenants so you can get and maintain maximum occupancy rates. 

Technology is key for green marketing

Communicating with residents through technology channels is a great way to educate them about sustainability initiatives. Engaging tenants via social media, resident portal webcasts, or even simple text messages is a great way to keep them connected and informed. For the more results-oriented clientele, smartphones equipped with thermostat-control apps allow them to monitor energy savings and will help them buy into eco-friendly community upgrades.

Build community with sustainability initiatives

Encourage residents to learn more about and use the apps and digital environmental tools that support your property’s sustainability goals. A curbside recycling program, community composting, or even an electric vehicle charging station shows management’s dedication to eco-friendly initiatives. Regular communication from management and within the community will keep renters engaged.

Class A Management: Engaging tenants for decades

It always helps to have a property management team in your corner who knows how to build sustainable initiatives and communicates them to your tenants. With over three decades of experience, our professional asset managers are at-the-ready to assess your property and give you the information you need to make decisions about creating a more sustainable community. 

Contact our team today to learn how you can better manage your investment property to create lasting tenant loyalty.