Multifamily Property Articles
If you think powering a multiunit residential building with solar energy is only fo rthose living in sunny West Coast towns, think again. Apartments and condominiums worldwide are beginning to reap the benefits of solar power technology.
In 2014, McGraw Hill Construction Dodge estimates that single family and multifamily housing projects will account for about 45% of the value of construction projects started in the United States, with single family housing making up the lion’s share of the residential projects. For green building to transform the construction industry fully, the housing market must be a core part of its growth.
For property owners looking to attract new tenants and keep existing ones happy, they’re implementing one of several options when it comes to smoke-free buildings. Some buildings are going entirely smoke-free, either by a policy voluntarily adopted by building management or by local ordinance. Other communities are adopting ordinances to require no smoking in all or a certain percentage of the private units of multifamily housing.
A recent article in MultiHousing News discussed the savings that managers of multifamily properties realize with smart water management. The article featured an interview with a company that offers a cloud-based landscape irrigation management system.
In mid-September, multifamily buildings will now have the opportunity to submit via Portfolio Manager for a score, through the 1 – 100 ENERGY STAR score for multifamily buildings. All properties scoring above a 75 may be eligible to earn ENERGY STAR certification.
Apartment developers spend countless hours attempting to determine the features and attributes that will contribute the most to the value of their buildings, or the premium they can charge for rents. Decisions about the design, features or location of an apartment building are many times dictated by the attribute that will result in the highest returns.
This article, from the U.S Department of Housing and Urban Development, outlines the history of the sustainability movement in Multifamily Housing.
Many certification programs are available that add value to multifamily communities.
A recent academic study finds evidence that owners of apartment buildings with certain sustainability features are less likely to default on their mortgages.
With overwhelming evidence that carbon emissions are a major contributor to global warming, people are now looking at home improvement to decrease their amount of carbon emissions, and your homeowners association can too.
Planning to build a new multifamily building? Before you finalize your construction plans, consider going green. Sounds pricey, doesn’t it? Truth is: it can save you money in the long run and help you attract new, responsible tenants in the short term.