Thinking of getting green certification for your property? Do you think it’s worth it? Have you thought about the advantages or benefits it can bring you? Would you like to be among the 79% of owners who should be building green properties by 2018? If you answered Yes to these questions, read the rest of the article and learn about the benefits of getting your property green certified.
- Reduced operating costs: High operating costs continue to weigh on owners’ pockets. And saying that owning a property is something that can help shape its future, reducing operating costs can clearly help save more. Numerous studies support the fact that green buildings are known to have a return on investment of around seven to eight years depending on the types of improvements made in energy efficiency, durability and aesthetics. According to a study, operating costs can be reduced by up to 13%. And if a landlord converts their property to rental, they can reap increased margin profit by charging higher rents than competitors who are not certified green.
- Decrease in vacancy rates: Owners who wish to secure the future of their children are likely to opt for the conversion of their house into a rental property. And by doing green renovations, there is a better chance that the property will still be rented out. Tenants are also likely to renew their leases due to the benefits they have experienced during their first months of tenancy. Again, studies show that there is a lower vacancy rate for green buildings. They are 4% lower compared to non-certified green real estate rentals.
- Increased investor interest: Green buildings have consistently high scores for energy efficiency. They also have consistently high rates of tenant retention, which drives investors to approach them. If, in such a case, an investor wants to add your property to their portfolio, it becomes instant proof of their company’s commitment to sustainability. This marks them a point with shareholders who always seek social responsibility from the company in which they invest. So, be sure to get your property certified green. It’s more proof than the features you’ll brag about that it’s green!
- Avoid being labeled green wash. With green buildings comes the closely associated term green washing, This term refers to labeling the building green when in fact it is not. This is a direct manifestation of lying to customers. When proven, this can cause headaches for the owner and property manager. But when you are certified green, you instantly get rid of that label and won’t be labeled as such because you have proof of it.