Green Brings Green

Sustainability Aids Retention

By Erica Rascón on Mar 28, 2019 in Energy, News

Did you know that adding sustainable features to your property can improve tenant retention? It’s true! If you’ve been brainstorming ways to increase lease renewals and decrease overhead costs, green upgrades may be the answer. 

The Benefits of Sustainability

Tenants look favorably upon earth conscious workspaces. DTZ, an international leader in commercial real estate services, analyzed responses to the 2015 Kingsley Associates’ tenant survey. Researchers discovered a strong correlation between sustainability and client satisfaction. Respondents expressed greater satisfaction with sites that offered environmentally conscious upgrades and services.

Fortunately, there are several sustainable features that you can offer that also benefit you! Check out the suggestions below:

Promote paperless services. Online services such as online rent payment, online maintenance requests, and online communication are easy ways to decrease deforestation and keep paper out of landfills. Clients will love that online services are quick, simple, and easy to track. You’re improving efficiency for staff while cutting costs on supplies, printing, and fewer late payments.

Implement intelligent utility billing. Catching leaks, billing errors, and monitoring consumption through submetering are just a few benefits of energy management systems. Systems’ automated cost recovery programs can save thousands.

Make ride share easier. The share economy is estimated to become a $335 billion industry by 2025. Show that you’re savvy to what clients want by promoting ride share at your property. Designate a few easily accessible spaces for ride share drivers. Shared rides decrease traffic congestion.

Conduct an energy and resource audit. No one likes to be audited. Fortunately, this audit is a great way to shave overhead costs and gain points with occupants. Have a third-party conduct a water and energy audit of your property. Professionals can catch leaks and wasted resources to help you save money, and then pass those savings on to tenants.

Toot your own horn. Do your tenants know what’s happening behind the scenes to save them money? If not, you’re missing out on an opportunity to build loyalty and tenant satisfaction. Publish a blog post or newsletter detailing your energy-saving efforts.

Get more tips on Sustainable Amenities that Office Tenants Wish For to improve tenant retention.