If you are a property owner or a landlord, you stand to gain by opting for a sustainable property management strategy, as making it environmentally friendly makes it more attractive for tenants.
As a landlord, you can also save money by going for renewable energy or solar power (to cut down on your power bill), water harvesting (to save water), and creating natural ways for HVAC (heating, ventilation, and air conditioning).
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You should take the following 7 steps to create a sustainable property management plan
Formulate a Plan for Water Conservation: Water is precious. This reason should prompt you to install gadgets like low-flow faucets, toilets, and showerheads to save water. You can also do rainfall harvesting. You can store rainwater and use the saved water for irrigating the plants in your garden.
Sustainable Energy Plan: One of the best ways to implement this plan is to opt for solar energy. As a landlord, you can install solar power panels to reduce your dependence on fossil-fuel-generated power and other non-renewable power sources. Installation of solar power panels can also help your tenants save on their power bills.
Waste Management & Recycling: This should be an integral part of your sustainable property management. By recycling and daily household waste reduction, you can promote environmental sustainability. Your tenants would also love to reduce waste and contribute to green living if you promoted them to do it as a landlord.
Introduce Smart Home Technologies: As a landlord, you can go for smart home technologies like smart lighting management, automated energy management, and programmable thermostats. If you use programmable thermostats, you can gain a lot as a landlord.
Minimum Use of Power Consumption in Common Areas: If you are a landlord, you should encourage energy saving in common areas of your landed property like a lawn, common room, conference hall, open space, or portico. Use of power-generated utilities like lights, fans, heating systems, and air conditioners can help you a lot to save energy.
Efficient HVAC Management: Your rented premises require heat, ventilation, and air conditioning, but you can install different energy-efficient appliances and HVAC units to contribute to ecological conservation. For example, you can replace old refrigerators with new, technically advanced ones that consume far less electricity.
Tenant Engagement in Sustainability Initiative: As a landlord, you can encourage your tenants to come forward voluntarily to keep the premises eco-friendly for their own benefit. If the premise is environmentally good, it is certainly good for all tenants. They can breathe fresh air and avoid pollution in the environment. But to create this ideal situation, all have to put in efforts to save the environment of the property.
Your property plan should implement both the green building concept side-by-side, incorporating the latest scientific ways, like using a shut-off toilet valve for your bathroom.
You can notice that sustainable property management is now trending among realtors, housing estate owners, and private home builders.
Many among them are also going for creating green buildings, as the tenants also like such concrete structures. The tenants also like to live in eco-friendly places, as it also suits their mental and physical wellbeing.
Conclusion
There are several reasons why the landlords are growingly inclined to formulate plans for sustainable property management. It is beneficial for them both in the short term and long term. Among the many short-term benefits, such a plan can enable the landlord to cut the costs on utilities like electricity, water, and air conditioning.
By formulating a plan for HVAC (Heating, Ventilation, and Air Conditioning), you are not only cutting the cost but also providing an eco-friendly environment for your tenants. In the long run, such properties managed along the line of sustainable management increase the value of the property, as anyone buying it would not require any additional investment.