The property management world is going “green,” but it’s no longer just a marketable catchphrase. It’s an industry mandate. Responding to consumer demands drives the rental market to provide specific amenities and adjust rents accordingly. Answering the clarion call to sustainability is no different. Energy efficiency and sustainable building are cost-effective for investors and renters alike; so, it’s time to jump on the bandwagon and let tenants know we’re in this together.
By engaging tenants in sustainability efforts, you will encourage tenant loyalty and make your property more attractive to prospective tenants searching for environmentally friendly living spaces.
Energy efficiency boasts immediate cost-savings
Eco-friendly choices like LED lighting and Energy Star appliances don’t require much electricity. That means lower utility bills for renters. Renters who know how much money they’ll save on energy costs with upgraded insulation or windows are more likely to support sustainability efforts when their homes become temporary construction zones. Use one of the government’s handy energy calculators to let residents know how much money they can expect to save.
Informing your tenants about potential savings will help with engaging tenants in conversations that could lead to attracting other tenants so you can get and maintain maximum occupancy rates.
Technology is key for green marketing
Communicating with residents through technology channels is a great way to educate them about sustainability initiatives. Engaging tenants via social media, resident portal webcasts, or even simple text messages is a great way to keep them connected and informed. For the more results-oriented clientele, smartphones equipped with thermostat-control apps allow them to monitor energy savings and will help them buy into eco-friendly community upgrades.
Build community with sustainability initiatives
Encourage residents to learn more about and use the apps and digital environmental tools that support your property’s sustainability goals. A curbside recycling program, community composting, or even an electric vehicle charging station shows management’s dedication to eco-friendly initiatives. Regular communication from management and within the community will keep renters engaged.
Class A Management: Engaging tenants for decades
It always helps to have a property management team in your corner who knows how to build sustainable initiatives and communicates them to your tenants. With over three decades of experience, our professional asset managers are at-the-ready to assess your property and give you the information you need to make decisions about creating a more sustainable community.
Contact our team today to learn how you can better manage your investment property to create lasting tenant loyalty.