Are you thinking of getting green certification for your property? Do you think it’s worth it? Have you thought of the advantages or the benefits it can give you? How would you like to be in the 79% of property owners who are expected to build green properties by 2018? If you answered Yes to these questions, read the rest of the article and know the benefits of getting your property green-certified.
- Lessened Operating Costs: The high amount of operating expenses always burden the pockets of property owners. And to think that owning a property is something that can help shape one’s future, reducing the operating costs can clearly help save more. There are many studies that support the fact that green buildings are known to have a payback of about seven to eight years depending on the types of enhancements done relevant to energy-efficiency, sustainability, and aesthetics. According to one study, the operating costs can be reduced to as much as 13%. And if an owner converts his property to rental, he can reap an increased profit of margin by charging premium rents over competitors which are not green-certified.
- Decreased Vacancy Rates: Owners who want to secure the future of their children are likely to opt converting their homes as property rentals. And by doing green retrofits, there is an increased chance of the property always being rented. The tenants are also likely to renew their leases because of the benefits they have experienced in their first months of tenancy. Again, studies show that there is a lower vacancy rate for green buildings. They are 4% lower as compared to property rentals which are not green-certified.
- Surge in Investor Interest: Green buildings show consistent high scores in terms of energy efficiency. They also show consistently high rates of tenant retention causing investors to be driven closer to them. If in such instance an investor wants to add your property in its portfolio, it becomes an instant proof of their company’s commitment to sustainability. It scores them a point to shareholders who always look up for the ways that the company they invest into has a social responsibility. Thus, be sure to get your property green-certified. It is a proof more than the features you’ll brag that it is green!
- Avoid Being Tagged of Green Washing. With green buildings come the closely associated term of green washing, This term refers to labeling the building green when in fact it is not. It is a direct manifestation of lying to clients. When proven, it can bring headache to the owner and property manager. But when you’re green-certified, you are instantly get rid of this tag and won’t be labeled as such because you have proof.