For one thing, because it’s something that you as a good citizen should do. And because Going Green is smart business for you, as apartment owner or property manager.
Next time that you, in your capacity as landlord or property manager, have to arrange for the replacement of a light bulb, it might be a good idea to opt for the slightly more expensive, but higher quality and enhanced performance, LED bulb.
Why pay such a high price for green tech? Please read on.
Property Value = NOI / Cap Rate
The facts are these: LED lighting products enjoy vastly greater longevity and save up to 75% on energy. The resulting lower utility bills will raise your net operating income, while improving the quality of the building, and thus increasing its market value.
The Best Part is the Free Lunch
Be sure to take a look at the local, city and state incentives, which often offer huge rebates to owners opting to install sustainable green technology.
Other Benefits
The good news doesn’t stop there. In addition to the other goodies:
- Less use of water and utilities by your tenants means that that they will pay less –and so will you.
- Less worry for you about vacancies. Tenants will save on utilities and will thus have a strong incentive to stay put.
- You will save on labor costs. Longer light bulb life (not to mention that of other green products) = less labor needed to replace.