Statistics show that while many renters would prefer to live in greener apartments, most are not willing to raise their rental budget to do so. Does your organization know how to market your green property to potential residents? Find out more.
In a Strata Research survey of 1,053 renters, 62 percent reported that “environmental friendliness” was an important factor in their apartment hunt. However, 57 percent of those surveyed also replied that increased expenses could cause them to reconsider living in a green unit all together. The majority of residents in this survey stated that while they would prefer to rent green units to save money on utility costs, they aren’t willing to raise the price tag of their monthly rent for green updates. Multifamily Executive explains that for many residents, sustainability is becoming an expected luxury.
Since cost is the deciding factor for most resident’s rental choices, it’s extremely important that green properties educate potential residents on the money-saving opportunities their energy efficient upgrades provide. For example, if you property is submetered, your organization’s website should explain how the process of submetering can decrease utility costs for residents. Featuring articles about the monetary benefits of living in energy-efficient units on your Facebook or Twitter sites helps to send the message that living in your green property can actually save residents money.
If your property is currently submetering utilities, residents can learn more about the conservation and monetary benefits by visiting our resident website at www.mywaterwatchbill.com. Looking for even more ways to reach potential residents? Consider reading our latest WaterWatch and Learn installment.
Todd C. Quarterman founded the WaterWatch Corporation in 1997 and currently serves as President and Chief Executive Officer of the company. Mr. Quarterman has grown the company from a start-up to a national leader in the utility sub-meter and billing industry.