David Crown, CEO and Founder of L.A. Property Management Group and Crown Commercial Property Management, shared his experiences managing a commercial property with soil contamination issues in a recent article. The property, a former dry cleaning business, was at risk of being shut down due to potential poisonous airborne vapors. Crown and his team successfully managed the situation, but the incident highlighted the crucial relationship between properties and their environment, emphasizing the need for responsible property management practices.
Crown outlined five key strategies for improving a property’s relationship with its environment, starting with energy-efficient repairs. Regular property inspections are essential for catching small issues that can accumulate and lead to larger problems. For example, fixing a leaky faucet can save thousands of gallons of water each year and reduce utility costs. Property managers should also monitor water bills for signs of leaks and address them promptly.
Energy-efficient appliances are another important aspect of environmentally conscious property management. Outdated appliances can drive up utility bills, so replacing them with energy-efficient models can save money and reduce greenhouse gas emissions. Crown recommends upgrading to appliances with higher energy efficiency ratings and replacing filters regularly to maintain optimal performance.
With the rise of electric vehicles, Crown advises property owners to consider installing EV charging stations. The lack of charging infrastructure can be a deterrent for potential tenants, and incorporating EV chargers can enhance the appeal of a property. While meeting current standards may be challenging for older buildings, providing charging capabilities can attract environmentally conscious tenants and support the growing EV market.
Improving insulation is another essential strategy for enhancing a property’s energy efficiency. Proper insulation in doors, windows, ceilings, and walls can help maintain a comfortable temperature and reduce energy consumption. Crown stressed the importance of addressing insulation issues to prevent unnecessary expenses on replacing AC units and ensure tenant comfort and satisfaction.
Managing waste is a fundamental aspect of environmentally responsible property management. Encouraging recycling and waste disposal practices can contribute to a healthier environment and generate cost savings for property owners. California regulations require multifamily buildings with five or more units to provide recycling services, underscoring the importance of proper waste management practices.
Crown’s insights highlight the significance of integrating environmental considerations into property management strategies. By implementing energy-efficient repairs, upgrading appliances, installing EV charging stations, improving insulation, and managing waste effectively, property owners can enhance their properties’ sustainability, reduce costs, and attract environmentally conscious tenants. Adopting these practices not only benefits the environment but also contributes to a more sustainable and profitable property management approach.
