3 Stats That Prove Going Green Is Profitable for Property Owners
It is no secret that energy-efficient buildings are better for the environment, yet many property owners are still hesitant to make the switch. If you are unsure, here are three stats that prove going green is not only socially responsible, but it can be profitable too.
Green building tenants are willing to pay more money.
Owning a green building will help you attract more sophisticated clients who are willing to pay a higher rent. Not only do they consider sustainability an important factor, they are willing to pay more because they expect less maintenance problems and lower utility bills. According to the Institute for Building Efficiency, some LEED buildings have a rental premium as high as 17% .
Green buildings have a higher occupancy rate.
Once again, many people and businesses factor in sustainability when weighing out their leasing options. If your property has energy efficient upgrades, it is one more competitive advantage that you hold over other options. Green buildings are proven to have an occupancy rate which can be up to 18% higher than standard buildings.
Green buildings are cheaper to operate.
It is no secret that green buildings are much cheaper to operate than old, inefficient buildings. How much cheaper? That depends on your individual facility, but some upgrades can reduce your operating costs by up to 30% .
So what do you get when you combine more tenants paying more money with reduced operating expenses? A higher net operating income – up to 5.9% higher in fact, according to the Institute for Building Efficiency.
One of the easiest ways to get started going green is by investing in power monitoring equipment for your property. The power meters, submeters, and energy management software available from Electro Industries can help you identify inefficiencies throughout your building, so you focus on eliminating them. Visit our website to learn more, or speak with one of our associates by calling 866-928-7908.