How Joining the Green Movement Can Raise Rental Rates

As more people move to metropolitan areas the demand for multifamily housing increases, and as more people become aware of their carbon footprint the demand for eco-friendly apartments increases. The good news for developers is that tenants are willing to pay more for a sustainable apartment building. 

People are increasingly becoming aware of their carbon footprints and environmental issues, increasing the demand for environmentally-friendly apartments. Fortunately for developers, the added cost of implementing environmentally-friendly design and construction principles can pay off by attracting admirers of green living.

Green apartments have energy-efficient appliances, insulation, water conservation, and many other environmentally-friendly features. What’s more, green apartments help tenants and landlords reduce operations and maintenance costs. So if you’re thinking of going green, here are some key factors to consider when developing an environmentally-friendly residential complex.

An energy-efficient residential complex can reduce tenants’ energy usage and utility bills. For example, you can incorporate double-glazed windows for optimal insulation (e.g. control the internal temperature), spray foam insulation, appliances with high Energy Star ratings and eco-friendly plumbing fixtures.

You can even add energy-efficient lighting such as light emitting diodes (LEDs) or compact fluorescent lights (CFLs), as well as energy-efficient HVAC units and other household products. Adding fans and having windows that can open can further reduce the amount a tenant uses the HVAC unit.

You can also consider developing a complex that’s completely powered by the wind and sun. You can do this by installing a wind turbine between each floor and solar panels to generate electricity.

Continue Reading