Tenants stay longer in energy efficient buildings. Who knew?*

Everyone saves money. Everyone feels better.

A recent study found that energy efficient buildings see 3.7% higher rents. Why? Because tenants stay longer, which reduces the costs related to turnover. Tenants stay because the buildings promote productivity, connectivity, and environmental-friendliness.

Now, in the case of this study by the University of Guelph and Maastricht University of the Netherlands, the buildings were commercial in nature. But, this doesn’t discount the idea in the multifamily market.

Just like today’s businesses, the renters of today want energy efficient buildings. These features help them to save money and reduce waste. They are tech-savvy and want to reap the benefits of green technology. So, it makes sense that energy efficient apartment complexes would attract renters the same way commercial buildings attract businesses.

But, what kind of efficiency attracts renters to begin with? Not just lighting changes (which are a nice outward gesture), but overall retrofits. Full renovations provide the most energy savings, for property managers and their residents.

Besides the obvious monetary savings, an energy efficient building also promotes a certain brand. A brand that cares about the environment, and wants to tackle issues.

And, if you’re considering renovating for energy efficiency, why not consider technology that shows you what your actual energy use is, and helps you to conserve? Curious? Check us out.

Be efficient. Take pride in it.

*We did. And the reporters of this study. And anyone else who knew.