Going green is no longer just a fad; it’s a full-fledged way of life for countless Americans. That includes many of the tenants who could be living in one of your rental properties. Not only can embracing eco-friendly endeavors provide incentives for current tenants to stay in their apartment for a longer period of time, but they can also give your property a leg up on the competition. In many cases, tenants will be willing to pay more to live in an apartment or condo community that prioritizes sustainability.
With World Environment Day just around the corner, it’s time to take a closer look at some of the steps that property owners can take to make their multifamily dwellings a bit more green. From EV charging stations to recycling programs, here are four ideas to help you embrace environmentally friendly efforts.
Create a Communal Garden
What better way to beautify the Earth than to establish a community garden space for residents to use? This can be a real selling point when trying to attract new tenants, as well as a way for existing tenants to become more invested in their current home. What’s more, it’ll increase your property value without having to devote your own time to maintaining this green space. Adding plants, flowers, vegetables, and fruit to a communal garden can fit in perfectly with residents’ desires to support local agriculture, increase self-sustaining practices, and help area wildlife.
Use Non-Toxic Products
Whether you’re renovating an apartment or cleaning up common areas, you’ll want to take a close look at the materials you’re using to do the job. Tenant awareness has likely increased in recent years, especially as it pertains to volatile organic compounds (VOCs). These chemical components can be harmful to tenant health, atmosphere, and local waterways. Make sure to prioritize non-toxic building materials and cleaning agents to promote better air quality and tenant satisfaction.
Utilize Energy Efficient Appliances and Products
There are a number of household products your tenants will use on a near-daily basis that can unknowingly contribute to your property’s carbon footprint (and energy bills). By making the effort to replace outdated appliances with Energy Star versions, you can protect the environment and increase savings (both in terms of energy and money). You should also consider replacing halogen lightbulbs with LEDs in common areas to save electricity. Programmable thermostats can also be a huge perk, as they’ll automatically save property managers money without compromising tenant comfort and safety.
Install EV Charging Stations
In the U.S., only 80% of owner-occupied households have access to garages or carports. Many multifamily dwellings may only offer one designated parking space per family. But that doesn’t mean that your tenants aren’t investing in more eco-friendly forms of transportation, such as electric vehicles. When they do buy an EV, the majority of Americans will want to charge overnight at home. It’s not always guaranteed that tenants will find electric car charging stations at an apartment community they love, so when you install EV stations on your property, you can entice new and existing residents to live in these apartments or condos. Since EVs can help reduce a driver’s environmental impact, these cars are becoming more attractive to consumers with each passing year. But increased accessibility to EV stations is essential. You can be ahead of the curve by installing an EV charging station on your property to benefit tenants and the planet.
Now that the beauty of spring is starting to emerge, it’s a great time to do what you can to preserve the planet. For more information about installing electric vehicle charging stations on your rental property, please contact us today.
Click here to learn more about EV charging at multifamily communities.