One question many property owners and managers ponder is whether they should invest in energy-efficient features for current or new properties they run. Various companies have different outlooks on this, but there is evidence showing that a green building could be good for business.
For example, GID Development Group recently announced a plan to build a new green luxury high-rise apartment complex in Houston. The complex will feature various energy-saving, green features, such as low-energy glass, and is expected to lease entirely soon.
Although the consumption advantages are clear, many rental property management officials are on the fence about green units. After all, renters generally pay for their own energy costs. Furthermore, constructing a unit with sustainable elements is often expensive, and remodeling a unit to include those elements is even more so.
But a survey conducted by Strata Research shows that renters would pay more for an environmentally friendly unit.
According to the survey, 62 percent of renters believe it is important for a unit to be environmentally friendly, while 53 percent would consider paying extra for green features in a unit.
Weighing the pros and cons of implementing energy-saving and environmentally friendly features to a building is worth managers' time, as it may lead to an increase in signed lease agreement forms.