Friday, April 22nd is Earth Day 52. And as the world continues to deal with the effects of a rapidly changing climate, it’s clear that this year’s theme, “Invest in our planet”, is more critical than ever. While certain parts of the real estate industry have made important strides in this direction, there’s still a long way to go. But, it’s certainly possible to make a positive impact within your own communities. As a property management team, you have a real opportunity to not only raise awareness of sustainability issues within your communities but engage residents directly through targeted action.
A proactive commitment to sustainability is no longer a nice-to-have, but a necessity today. That’s why we want to help equip your on-site team with actionable ideas on how to celebrate Earth Day, not just this April, but every month of the year.
Bring transparency to your resident’s utility usage
Oftentimes, one of the best ways to keep on the right track when it comes to sustainability is through accountability. While many of us want to live more environmentally-friendly lives, we often choose convenience over staying accountable. So how can you as a property management team introduce accountability in a more intentional way? One potentially impactful way is by holding residents accountable for their utility charges. Many of us don’t realize how much energy, water, gas, etc we use. But introducing transparency into the system and giving people a glimpse into their consumption habits can be a great way to lower your community’s overall footprint.
If you don’t already have them installed, submeters can be an effective way to accurately measure each unit’s utility consumption, helping you bill the correct amount each month. What’s more, you can engage your residents by posting energy-saving tips and resources on your website or community newsletter, creating more awareness in the process.
Ultimately, creating a transparent utility system can not only save your on-site team time each month, but can increase your property’s overall value over time. As Fannie Mae explained, “on average, a 100,000 square foot property spends $125,000 on energy and $33,000 on water annually. If this property saved 15% on energy and water costs, it would increase asset value by almost $400,000, assuming a 6% cap rate.”
Host a tree planting event
A decidedly more fun (but still impactful) way to celebrate Earth Day itself is to host a tree planting event. Adding extra greenery to your community can be an easy and affordable way to add more curb appeal, as well as create a healthier, more biophilic-feel to the space. This is something that could appeal to residents both young and old, as well as families with young children. Use it as a form of education to raise awareness of being environmentally-conscious, explaining how trees capture carbon dioxide to create the oxygen we breathe.
If your community perhaps doesn’t have the space for trees, consider planting a community garden instead. A carefully planned garden can bring a similar level of warmth and color to your property, along with giving residents the ability to grow their own fresh fruits and vegetables on their plot.
Create new recycling opportunities
Recycling is an incredible way to reduce overall waste and give new life to old and worn out materials, but so often, it’s not done correctly. And when materials aren’t properly recycled, they end up in a landfill. A great way to avoid this extra waste is to create educational materials around proper recycling practices. Add them to your community newsletter, and if possible, make sure there are signs on or near any dumpsters on the property.
Don’t just stop at typical recyclables though. Give residents access to an electronics recycling bin so they can safely dispose of their old phones, laptops, batteries, and other e-waste. Something else to consider is creating a composting bin – something that could provide rich nutrients for a community garden or planting project.
Don’t be afraid to retrofit old buildings
While it may seem like a big cost upfront, retrofitting your older units with more eco-friendly systems and appliances can yield savings in the long-term. Not to mention when it comes to the planet, environmental impact should always trump profit. Consider smaller projects like replacing inefficient lightbulbs, as well as bigger ones like replacing toilets with low flow models and replacing old boilers.
Give out some sustainable merch
Who doesn’t love a good freebie? Giving out branded merch like reusable water bottles and tote bags is a great way to both advertise your community and encourage residents to pick up more environmentally-conscious habits. You can even make it into a contents, or other activity where residents have to answer Earth Day trivia. Or, if you’d rather make it into a more community-oriented event, host a vegan food truck and have a table where people can pick up your sustainable merch while they enjoy an earth-friendly meal.
Building environmentally-friendly properties and communities are just one of the many challenges facing multifamily teams today. Want more on how to navigate these challenges within your own team? Check out the BetterBot blog for more guides on topics like solving the on-site labor shortage and more.
