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Looking for more formal training in green property management? NAR's Green designation has a property management track. The Green designation provides real estate professionals with the knowledge and awareness of green building principles applied in residences, commercial properties, developments, and communities so that they can list, market, and manage green properties as well as guide buyer-clients in purchasing green homes and buildings.
For more information, visit the Green Resource Council webpage
Why Go Green?
Want to Combat Climate Change? Start with the Decarbonization of Buildings (Forbes, Oct. 6, 2021)
The path to decarbonization involves a unique combination of data management, infrastructure upgrades, innovative technologies and digital solutions, so companies must understand their energy efficiency and sustainability challenges, as well as their goals.
The Newest Green Building Material Is One of the Oldest: Wood (Next City, Aug. 24, 2021)
In addition to pulling carbon out of the atmosphere, “mass timber also helps builders avoid emissions-intensive building materials like concrete and steel,” Dodds adds. “Mass timber construction could help us avoid between 14% to 31% of global annual emissions by preventing the emissions that would occur through the use of concrete or steel in construction.”
7 Well-Known Benefits of Green Buildings (Global Trade Magazine, Jun. 10, 2021)
Sustainability and social responsibility have become more prominent around circles of investors and potential occupiers. If your building uses green interventions, its credentials allow for increased marketability. Studies have shown that greener buildings have a high tendency to attract tenants and buyers. With the demand and technology incorporated, owners can implement higher lease and sale prices.
Commercial Real Estate’s Impact on Climate Change (Crexi, Apr. 19, 2021)
Recent evidence suggests that buildings with green features also depreciate less quickly and are more likely to meet the growing demand of discerning tenants and investors. The result is that occupancy rates are higher, with rents and sale prices potentially above-market than non-green properties.
Green Leases Unite Landlords and Tenants to Lower a Building’s Carbon Footprint (JD Supra, Dec. 13, 2021)
Rather than a specific type of document, a green lease refers to a series of provisions that can be added to a standard lease document. Like any lease, it can be tailored to the needs and goals of the landlord, tenant and building. When negotiating a green lease, the landlord and tenant must come to a consensus on their sustainability goals, how they will measure progress, and what will happen if either party fails to live up to their end of the bargain.
How Green Is Your Lease? (Buildings, Mar. 22, 2021)
Green leases include language that creates a partnership between tenants and landlords in this regard, Walraven said. Many leases now at least allow landlords to charge capital improvements that lower operating expenses through to the tenants. But there’s much more you can do to a lease to improve a building’s sustainability credibility and lower your operating costs in the process.
DOE Announces 2021 Green Lease Leaders Awardees (Office of Energy Efficiency & Renewable Energy, May 21, 2021)
Green Lease Leaders demonstrate that the lease can be used as a valuable tool to remove the split incentive barrier, which poses a major obstacle to achieving high-performance buildings in leased space. Through green leasing, landlords and tenants develop closer relationships that serve as a launch point for additional building investments in health, electrification, and sustainability.
What is C-PACE? Commercial Property Assessed Clean Energy (StackSource, May 11, 2021)
PACE is a voluntary financial program to increase a property’s energy efficiency and renewability while simultaneously increasing its value. These improvements can include disaster resiliency improvements, water conservation measures, or renewable energy installations of residential, commercial, and industrial property owners.
5 Ways Clean Tech is Making Commercial Real Estate More Energy Efficient (JLL, Apr. 10, 2021)
“Investment in clean tech infrastructure makes financial sense – it reduces operational costs in the long-term, while a sustainability strategy is now correlated with a forward-thinking, proactive approach. That wins business,” says Kyle Goehring, Executive Vice President, Clean Energy Solutions at JLL.
Seattle Tech Co. Breaks Ground on World’s First ‘Net Zero Energy’ High-Rise Apartment Building (GeekWire, Jun. 10, 2021)
The 112-unit building will run off of solar power and batteries, and includes 27 affordable apartments. It’s being constructed with a patented design that uses panels manufactured at a plant in Tacoma, Wash. that come preloaded with electrical wiring, plumbing and mechanical equipment.
Energy Savings Results from Small Commercial Building Retrofits in the US (National Resources Defense Council, May 25, 2021)
DOE also recently released a savings determination for the ASHRAE 90.1-2019 standard for new commercial buildings, which found savings as follows: 4.7 percent site energy use intensity, 4.3 percent source energy use intensity, 4.3 percent annual energy cost and 4.2 percent carbon emissions.
Other Ways to Green Your Management
As Risks of Climate Change Rise, Investors Seek Greener Buildings (The New York Times, Oct. 26, 2021)
Older buildings that don’t lower their carbon footprint are likely to suffer a “brown haircut” and depreciate in value in as soon as five years, said Oliver Light, commercial director for Carbon Intelligence, a London firm advising firms that manage $111 billion in assets. Not investing with sustainability in mind now means higher costs in the long run.
Learning from Green Buildings: 10 Pathways to Eco-Friendly Property Management (Buildium, Jul. 19, 2021)
Green building management describes not only retrofitting or building properties that are environmentally-friendly, but also managing properties that were sustainably built to benefit both the environment and the health of residents.
Measure the ROI of Green Property Management (BuildingEngines, Jun. 16, 2021)
After upfront investments, green property management yields big-time savings down the road. Consider: LEED buildings report almost 20 percent lower maintenance costs than standard commercial buildings. Green building upgrades typically decrease operation costs by up 10 percent in in the first year.
Websites, Journals & Certification Programs
US Green Building Council
— Committed to a prosperous and sustainable future for our nation through cost-efficient and energy-saving green buildings
Energy Star for Buildings and Plants — Created in 1992 by the EPA, the Energy Star program has since gone international and is one of the leading marks for energy efficiency in the world for consumer goods, homes and buildings
Sustainability — BOMA International's green resource page
Green REsource Council — The website for NAR's Green designation
LEED Rating Systems — The leading commercial building certification standard in the United States, sponsored by the US Green Building Council
Green Lease Library – Created by the Institute for Market Transformation, this is a centralized site for commercial green leasing resources.
eBooks & Other Resources
The following eBooks and digital audiobooks are available to NAR members:
The Green Building Bottom Line (eBook)
The Complete Idiot's Guide to Greening Your Business (eBook)
Conservation for Cities (eBook)
Green Buildings A to Z (eBook)
Green Business Practices for Dummies® (eBook)
Land Use Law for Sustainable Development (eBook)
Reinventing Green Building (eBook)
Smart Green: How to Implement Sustainable Business Practices in Any Industry—And Make Money (eBook)
Sustainable Energy Systems in Architectural Design (eBook)
Sustainable Facilities (eBook)
Sustainable Property Development (eBook)
How to Design and Build a Green Office Building (eBook)
Retrofitting Office Buildings to Be Green and Energy-Efficient (eBook)
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
A Practical Guide to Green Real Estate Management (Chicago: IREM, 2009) NA 2542 K6
Lease Guide: Guide to Writing a Commercial Real Estate Lease including Green Lease Language (Chicago: BOMA International, 2008) HD 1384 T23
Green Retail: Selected Readings, Oct. 2007 (Washington DC: Urban Land Institute, 2007) NA6230 Ur1g
Green Buildings: Selected References, September 2006 (Washington DC: Urban Land Institute, 2006) NAC 250 Ur1gb
Green Buildings Pay (New York: Spon Press, 2003) NA 2542 G72
Routledge Handbook of Sustainable Real Estate (Abingdon: Routledge, 2018) HD 1390.R684 2018
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