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Top Property Management Tips: Save Money by Going Green

Posted by sonrise on October 25, 2017
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If you are in management, then you know the aim is to deliver what customers or clients want while minimizing expenses and maximizing returns. It may come as a surprise that one of the most effective ways to accomplish these goals is by “going green.” Property management companies can apply many green strategies that reduce costs in the long run while being socially responsible to the environment.

How property management companies can benefit by going green

On the West Coast there is a lot of awareness about conserving the environment. There is a growing segment of the population that chooses environmentally friendly products, including rental homes. You will increase the appeal of your rental property by making green choices.

There are several small steps that property management companies can take that make a big difference in the long run. These upfront investments mean savings down the road:

Replacing older, less-efficient models of equipment and appliances to newer ones that are much more energy-efficient is a great way to reduce energy consumption and save money. Energy-efficient windows and ceiling fans, heaters and air conditioners with programmable thermostats in common areas are a good start.

Incentivizing owners to invest in energy efficient windows, blinds and curtains in their units is a great way to reduce energy consumption. These products help to keep rooms and homes warm when it is cold and cool when it is hot.

Servicing household and common area appliances and equipment on a regular basis will keep them running as efficiently as possible. Even a small part like an air filter that is clogged or otherwise faulty can cause equipment to use more energy to keep it running.

Adding structured outdoor spaces such as covered patios, terraces, and pergolas helps to shield buildings from weather extremes like rain or high temperatures. They also give renters or buyers additional spaces that they can use which increases the rental or purchase value.

Switch to CFLs. While it is up to tenants to replace their light bulbs, property managers can take the lead by using CFLs in public areas such as the parking area and lobby. They consume less energy, last much longer and are more environmentally friendly. Encourage tenants to do the same.

Weatherstrip windows and doors. Property managers can take the time to do weatherstripping on windows and doors. It will ensure that less warm air escapes from a room or house when it is being warmed by a heater and that cool air stays in when it is hot inside/being cooled by an air conditioner.

Setup community composting bins and a community garden.

Detoxify living spaces. A rarely talked about problem in domestic buildings is “off-gassing.” Off-gassing occurs when a surface releases a harmful chemical in the form of a gas. A variety of surfaces may cause the phenomenon including vinyl flooring, paints that have volatile organic compounds and synthetic carpets. Property management can choose carpets and rugs for common areas that are made of natural fibers. Using spray on sealers for wall-to-wall carpeting and paints with low levels of toxic fumes can help to reduce off-gassing. Big buildings such as residential complexes can also benefit from having an air purification system installed and placing plants in common areas that work to purify the air.

Son-Rise Property Management has been serving the property management needs of Bellingham and Whatcom County since 1996. Contact us today to see how we can help you find a rental property for your family or manage your rental properties.

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