Commercial Real Estate Investors: Go Green Can Save You Money
In the past decade or so, there’s been a huge push for businesses to become a better, cleaner, more sustainable version of their previous selves in order to prevent pollution and slow the progress of global warming. While many businesses both large and small have taken to “going green” naturally and implemented the change years ago, there are still many businesses across the world that have not yet made the change. Why? Typically, it’s because these business owners feel that the changes that must be made are simply too costly, and that these green additions will simply eat up their profits. However, this is completely false in the majority of cases. In fact, the choice to go green can actually save businesses a huge lump of cash each year in several different ways.
Lowering Monthly Costs
Going green doesn’t always mean installing the latest and greatest new technology and appliances in your office. It sometimes means just replacing faulty pieces that are already present. For example, replacing a worn-out or malfunctioning thermostat can prevent your air conditioner or heater from working overtime when it’s not needed, saving you a serious amount of cash in both the summer and winter months. Replacing old light bulbs with new LED bulbs and other advanced artificial lighting systems is another cheap step forward that can save you a bit of cash when it comes to your monthly energy bills.
If you happen to own an office building, it’s important to note that going green can help you be more competitive when it comes to drawing in tenants. This is especially true if your building sports a number of particular interior upgrades, such as individual lighting and temperature controls for different parts of the building, green finishes on the interior, water-saving toilets and sinks and recycling amenities. These interior additions tend to impact the renting businesses more than exterior ones, and are therefore more likely to draw attention from high-end tenants.
These additions and changes might cost quite a pretty penny up front, but in the end, they can provide an office building with several distinct benefits. The biggest of these is the ability to draw in higher-end tenants, who are willing and able to pay higher rent prices each month in return for these better amenities. You can also get tenants into your offices faster, and never worry about your building become obsolete.
Whether you’re just looking to manage monthly costs or want to prepare for the future, going green can seriously help you to manage your business and make the most of your current assets.