Apartment Owners - Find Value in Green Features - With Help From Tenants

 

The eternal dilemma of property management: how to keep operating costs low, while increasing property value and tenant retention. One strategy could be a green multifamily rental property program. The question is: how healthy and environmentally friendly can we make the units, while still making a profit and increasing property value?  Decisions are made based on the initial investment price for various measures as well as the pay back time. The following products and materials can reflect those choices.

 

Caramelized Bamboo Flooring: An attractive and long-lasting flooring option is commercially rated, pre-finished, carbon roasted bamboo flooring.  The color is warm; its darker tone hides dirt; installation was relatively simple; it can be refinished; it wears well; and turnover maintenance is very fast and easy.  In addition, the manufacturer, uses an exceptionally durable, solvent-free coating and the binding adhesive is virtually formaldehyde free, so installers and future tenants won’t breathe the off-gassing typical of other pre-finished flooring.  There are some recycled and natural fiber carpet produces too.  There is simply concrete flooring.

 

Marmoleum provides a durability and beauty with all-natural linoleum.  Marmoleum is biodegradable natural flooring made of linseed oil, woodflour, pine rosin, jute and ground limestone. It can be used in place of sheet vinyl flooring on the kitchen floors. Benefits of using marmoleum are primarily health and environmental related. Some find it more esthetically pleasing as well.  It is reported that it has been very resilient and easy to maintain.  

 

Dual-Flush Toilets, Showerheads and Faucet Aerators reduce costs and save water.  Dual flush toilets operate with either 2 buttons or a specialized handle for flushing, using a full flush for solids or a half flush for liquids. Installers like these toilets because they were exceptionally easy to install, an important feature for the cramped quarters typical of bathrooms in historic buildings.  Before installing the dual flush toilets, daily water usage was approximately .67 CCF/ day. After the toilets are installed, water usage should decrease to .42-.45 CCF/ day. Annually, dual flush toilets save over 3,400 gallons of water over typical low flush toilets. Engineering virtually eliminates all clogs, which equates to greatly diminished maintenance calls.  Low flow showerheads and faucet aerators can be installed to conserve additional water. These low cost measures can save hundreds of dollars on water and sewer charges.

 

Low-VOC (Volatile Organic Compound) Interior Paint allows tenants breathe easier.

Miller Paint’s Acro line is a low odor, low solvent, eco-friendly paints that contains no offgassing VOCs.  VOCs are found in many common household products and can have negative health effects ranging from eye, nose and throat irritation to damage to the liver, kidneys and central nervous system. The price of Miller’s Acro paint is comparable to conventional non zero-VOC products. There are many other paint companies that carry low and no-VOC paints as well.

 

Installing compact fluorescent light bulbs (CFLs) in all units will show a noticeable downward trend in electric bills as a result of this measure.  When you buy new appliances look for the “Energy Star” seal and efficiency rating.  Look to solar power; see LADWP incentive program for solar power systems.

 

Take advantage of the incentives and rebates for energy efficiency upgrades from LADWP; go to their web site at http://www.ladwp.com/ladwp/areaHomeIndex.jsp?contentId=LADWP_REBATES_SCID

 

Tenants can play a role too in reducing our energy needs and help reduce global warming and that is by using less energy.  For instances, encourage tenants to turn off lights when not in use.  Encourage tenant to use MTA, take a bike (provide a bike rack), or walk, whenever they can.  Encourage carpooling to work with a friend.  Maybe if they buy a car that is one with high gas mileage and low smog emissions they could get a small reduction in their parking fee.  As alternative to a second car you could suggest to tenants the Flexcar program, www.flexcar.com.  In addition to recycling, we need to think about what we buy before we buy it.  So encourage tenant to buy toilet paper, paper towels, and other products made from post-consumer recycled materials. 

 

LA Solid Resources Citywide Recycling Division (SRCRD) is presently registering multifamily residential buildings for a FREE recycling program; go their web site at www.larecycles.org.

 

Finishing materials that don’t show: These finishing materials contributed to the overall goal of offering the healthiest living spaces available while still turning a profit. These products include:

· Elmer’s solvent-free/water-based wood putty,

· Clean-Via vegetable-based degreaser for lightweight cleaning of all surfaces,

· DAP shrinkless, paintable, solvent-free caulking,

· Forest Stewardship Council (FSC) certified plywood for subfloors,

· Formaldehyde-free wheatboard in lieu of particle board,

· Salvaged lumber and trim, and

· Wood blinds instead of vinyl or plastic.

 

Results:  Employing green building materials and techniques can be a profitable investment decision for multifamily property owners. State in your ads that your units are green units and this should get you greater responses and should help in referrals.  Payback on these units may not come in the first 12 months, but a greater return on investment is realized in other immediate benefits. These include tenant retention, decreased maintenance, reduce utility cost, and possibly less time spent on marketing. 

 

Some tenants do require more direction when they move in. Many may not be familiar with how to maintain bamboo floors, marmoleum and how to flush dual flow toilets. However, once tenants understand the basic care and operation, they should love the unique characteristics of the units. Both tenants and guests will notice the novel and beautiful bamboo flooring right away, and even the dual-flush toilets are a discussion topic. Tenants actually give tours of their rental units. They consider the green materials and thoughtful details value-added features. Most are willing to pay higher rent and stay longer in part because of these features.