Magazine article Journal of Property Management

The Right Stuff Does Your Property Management Team Have What It Takes to Be Green?

Magazine article Journal of Property Management

The Right Stuff Does Your Property Management Team Have What It Takes to Be Green?

Article excerpt

AROUND THE WORLD, REAL ESTATE OWNERS, INVESTORS AND PROPERTY MANAGEMENT FIRMS HAVE REALIZED THAT SUSTAINABILITY IS NOT A FAD OR MARKETING GIMMICK, but a requirement for all properties to stay competitive. But who is going to transform the tens of thousands of properties that need to go green?

Many property management companies have created task forces to generate programs and ideas for leading their companies toward green operations, while others have outsourced the task. However, don't expect a corporate strike force to transform your operations over the weekend; most improvements will be implemented by the individuals already managing each property. Despite efforts at the corporate level, the success of a company's sustainability initiative relies on the selection, education and motivation of property management teams.

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The first step toward ensuring an efficiently operated property is putting the right people on the job. A single building may have the value of a small- or mid-size publicly-traded company, and management's approach toward energy efficiency could have millions of dollars of impact. Property managers and engineers should be appropriate for that level of investment.

To identify which managers and engineers will improve energy efficiency, understand how they view the objective. Do they see energy efficiency as essential to maintaining a profitable building? Do they employ green practices and measure energy consumption in their homes? Successful property management teams are staffed with individuals who will scrutinize building operations and lead the team through changes and enhancements. Those unwilling to alter operations will limit the potential benefits of sustainability, while involved team members will exploit opportunities, engaging with tenants and discovering energy and cost savings. …

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