Tips to Help Make Your Investment Property More Carbon Neutral
By Joe Killinger
Did you know that almost forty percent of global emissions are attributed to some sort of real estate?
There is a big push to get investment properties more carbon neutral and many tenants are requesting that the landlords start the process and get programs in place.
To start making their properties more carbon neutral, we wanted to help create a few tips to get you on your way.
Even cities are getting in on the act, with some requiring new construction buildings to be carbon neutral within the next decade.
1) Start with getting your LEED Certification – a popular green building certification
2) Create incentives for your tenants to get involved: incentives for decreasing energy consumption and create a recycling program
3) Buy efficient A/C and heating systems, even a smart thermostat can reduce energy consumption
4) Buy window coverings that operate efficiently
5) Create on-site renewable energy via solar panels
6) Post the building performance for example, state that your building utilizes thirty percent less energy than the average office building. Studies show that tenants prefer buildings that are greener and are willing to pay a little more in rent
7) Encourage your tenants to walk or bike to work and utilize the steps. Install bike racks and work with the area metro lines.
8) Show the tenants the results of their efforts - send an annual report showing how their usage declined
9) Consider holding a competition for the company/resident that lowers their usage the most
10) Communicate reminders regularly
Be sure you use green building materials when remodeling or during construction, here are a few examples for building materials that are more ecofriendly.
Earthen Materials, Wood, Bamboo, Insulated Concrete Forms, Cordwood, Straw Bale, Earth Bags, Slate, Stone Roofing, Steel, Thatch, Composites, Natural Fiber, Cellulose, Cork, Polystyrene, Isocyanurate, Natural, Clay, Non- VOC paints, Natural Fiber Floor, Fiber Cement, and Stone
These are just a few things you can consider when you want to start to lower your carbon foot print. Here’s also a great resource for you to continue your learning https://architecture2030.org/.
Remember, by reducing your carbon footprint you will also reduce your expenses which in turn, will have a positive impact on your NOI and increase the value of your property.