66% of American adults say that they are willing to pay more for sustainable products, despite inflation. This shows a significant shift in consumer wants and needs for sustainability trends in 2023, and you can count on this to touch all areas of their lives, including their living spaces.
As a commercial property manager, you are responsible for providing units that are not just comfortable, but also eco-friendly. This ensures that your residents are happy and live as guilt-free as possible.
Of course, some sustainable changes are more worth it than others. Here are the sustainability trends in 2023 you should be aware of to maintain your commercial property effectively.
This is one of the easiest ideas to implement since it does not take much money or effort to do. Also, you do not have to alter your property too much, as most of the job entails switching out old lightbulbs for more eco-friendly ones.
You should replace your property’s lights with LED ones, as they use at least 75% less energy than incandescent lighting. Not only that, but they last up to 25 times longer as well.
Despite costing more upfront, LED lights will pay for themselves in no time. You will see an immediate difference in your utility bills.
When residents move out, you will usually need to replace the flooring anyway. So the next time a lease ends, do not replace the flooring with the same thing.
Instead, turn to more environmentally-friendly materials, such as reclaimed hardwood, cork, or bamboo. Other more traditional choices that are still sustainable include linoleum, concrete, and tile. This gives you a good range of flooring materials to choose from, which can upgrade your units’ appearance while remaining environmentally friendly.
Electrochromic glass is also known as smart glass or smart windows. This uses nanotechnology to turn from opaque to translucent, and vice versa.
Electrochromic glass does require the use of electricity, plus an initial investment. However, in the long run, it will save you money and reduce your carbon footprint. In addition, smart glass lasts up to 23 years, which makes the cost worthwhile.
You can either control the glass manually or program it to adjust to changing sunlight during the day. Either way, it will reduce the workload on your properties’ HVAC systems.
Smart systems do not exist only to be flashy; they can also help save the environment.
For example, do those hallway lights need to be on 24/7? With a smart system, they can turn on and off as needed, without manual intervention. The sensors will detect when people are around, and the lights will turn on, then off when they leave.
Smart thermostats can also cut down on waste significantly. Your residents can control the temperature remotely, so instead of leaving the apartment warm all day, they can turn the temperature up 30 minutes before they commute home from work.
Residents can also track their energy usage. When they are more conscious of how much energy they use and when they can take the right steps to keep these numbers down.
Solar panels are the way to the future since they harness clean energy and do not have harmful byproducts either. They are also easy to add to existing roofs, so it should not be difficult to get solar panels for your commercial property. Even better is, there are tax credits for property owners, so that will ease your financial burden even more.
While this can be a huge financial undertaking, the tax credits should help. And once the solar panels are on, they will last for decades, given that you perform proper maintenance on them. They will then pay off since your residents will not have to use as much non-renewable energy.
Green Roofing Materials
Are the roofs on your properties a little worse for wear? Then consider replacing them with green materials.
Today, commercial property owners opt for things like slate tile, wood shake, rubber, metal, and recycled materials. You can even make the roofs truly green by covering them with vegetation over waterproof membranes to prevent damage.
If possible, you should also rethink the roof shapes on your properties. There are active vents you can have that will ventilate your properties without using electricity. An architect can help develop designs that will retain heat and control moisture in an efficient fashion.
All too often, rental properties are drab and gray. Having landscaping and gardens helps, but another sustainable option is living walls (or biowalls).
As the name suggests, you will fill interior or exterior walls with plants. Not only does this provide a pop of color, but it also reflects solar radiation, improving the building’s insulation. An exterior living wall also absorbs the water when it rains, and interior ones improve the air quality by producing oxygen and absorbing CO2.
Another benefit of interior living walls is they can help people’s moods. So consider having some in public spaces, such as the gym.
Follow These Sustainability Trends in 2023
By knowing the sustainability trends in 2023, you will be able to keep up with the times. Think about making green changes to your properties, such as LED lighting, eco-friendly flooring materials, electrochromic glass, smart home systems, solar panels, green roofing materials, and living walls.
When you have a sustainable commercial property, you will be able to attract residents who have the same values and appreciate your efforts. Not only will you generate more interest in your rental units, but you will also motivate current residents to stay longer. It will be a win-win situation for everyone.
Do you have any property management questions? Then get in touch with us today.
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