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Going Green: How Property Management Companies Attract Eco-Conscious Residents

PROPERTY MANAGEMENT

Many people who are looking for a residence are also concerned about the environment. Some of them are homebuyers, but many are renters. Renters have less control over the space in which they live; they usually can’t just add solar panels to the roof or make other significant changes to the property that they’re only renting, no matter how much they want to be environmentally responsible. 

However, that means that they’re more likely to be looking for rental properties that are already eco-friendly. You can attract these renters by using certain strategies designed to appeal to eco-conscious residents.

Create a Community Recycling Program

Recycling is a simple way to practice environmental responsibility. It’s not a new concept, but it’s still often difficult for renters. Many multifamily units simply don’t provide a program or space for recyclables. You can ensure that your building stands out from the others by putting a community recycling program in place. 

Recycling doesn’t have to be difficult. Even items that are more difficult to recycle, like lightbulbs and electronics, can often be picked up for free by local nonprofit organizations. All that you have to do is provide the necessary space for your residents to bring their recyclable items and make arrangements to have them picked up. Everybody wins. You’re doing something good for the environment and so are your residents, and potential renters will be more likely to choose your building knowing that it’s managed by people who share their values. 

Invest in Energy-Efficient Appliances

Energy-efficient appliances appeal to renters on multiple levels. Saving energy is good for the environment. Energy-efficient appliances also help to keep utility bills under control, making units more affordable. If any of the utilities are included in the rental price, keeping those utility bills lower is a benefit for you as well. 

On top of that, energy-efficient appliances are typically newer and tend to work better and last longer generally, so renters will have fewer qualms about renting knowing that they won’t be dealing with old or faulty appliances that often need repairs. Upgrading to energy-efficient appliances is a relatively inexpensive modification, and you may even be able to take advantage of rebates or tax credits for upgrading. 

Choose Amenities with the Environment in Mind

Often, it’s the amenities that tip the scales for a renter who’s trying to decide between two or more rental properties. To attract eco-conscious renters, keep environmental responsibility in mind when choosing new amenities for your building.

You might consider installing a community garden, for example, where residents can grow fresh herbs and vegetables. This is a relatively inexpensive investment, and ideally, your residents will do the work of keeping it up. They’ll get fresh farm-to-table food out of it and can enjoy being less reliant on food that has to be transported long distances.