Landlords control the Miami rental market. However, experienced property managers know condos need extraordinary qualities to magnetize blue-chip tenants — eco-warriors. Green-minded individuals are willing to pay top dollar for sustainability, so consider these eight features to make your unit more attractive to them.
1. Eco-Friendly Building Materials
Although building high-rises and skyscrapers without concrete and steel is impossible, you can use environmentally responsible paints and stains. These products have minimal to no volatile organic compounds — harmful gases that can pollute water and indoor air for a long time.
These components may use pigments from naturally occurring minerals or plants. Others use zinc oxide as an alternative to the traditional toxic fungicides. Moreover, you can outfit units with furniture and decorations made from sustainable materials, such as bamboo, cork, reclaimed timber, remanufactured plastic and recycled steel.
2. Solar Array
Nothing says “no” to fossil fuels better than generating your electricity. Solar is the most feasible renewable energy source in the 305, so invest in photovoltaic panels. A solar array can be costly initially, but it pays for itself over time due to the potential savings of producing enough electrical output to offset consumption.
3. Electric Vehicle (EV) Chargers
The Magic City has an expansive network of EV charging stations — a testament to its many zero-emission car owners. Equipping your building with destination chargers makes your rentals attractive to “Teslovers.” You can even monetize these wall connectors, providing a new revenue stream.
4. Green Building Certification
Getting certified is the most straightforward way to advertise your condo as a net positive for the environment. It demonstrates your dedication to sustainable construction, energy and water efficiency, climate resilience, and more.
You can apply for specific authentications based on your goals. With about 197,000 projects rated, the Leadership in Energy and Environmental Design (LEED) certification is the most recognizable stamp of approval of its kind worldwide. To obtain LEED certification, your building must achieve a score of 40 to 49 points among factors like energy usage, waste management, health impacts, and environmental quality
5. Energy-Efficient HVAC
Your safest bet is a geothermal heat pump. It’s reliable cooling equipment since underground temperatures stay around 50˚–59˚ Fahrenheit year-round.
Retrofitting a standing building with this equipment is complex and costly since it involves excavation. The next best things are ACs and electric space heaters.
6. Recycling Services
While eco-warriors think of themselves as environmental stewards, many need help recycling waste. Make it painless for them by providing bins and partnering with local organizations that need plastic, metal, glass and other recyclable materials for their businesses. Placing reverse vending machines throughout the building can make recycling more fun and rewarding.
7. Rooftop Community Garden
Encouraging residents to grow crops, flowers and ornamentals that everyone can enjoy fosters a sense of community, provides food security and savings, and promotes good health. A rooftop garden is an on-site oasis to combat the urban heat island effect, especially during the hottest months. This green space can reduce the cooling loads of rentals, generate fresh air and trap smog to help slow climate change.
8. Neighborhood Pre-Loved Marketplace
Launching a buy-and-sell program for used items can turn your condo community into a self-sustaining circular economy where unwanted valuables don’t end up in landfills. This initiative should help minimize the demand for brand-new goods — whose manufacturing processes can produce considerable greenhouse gas emissions — and avoid disturbing ecological systems for virgin resources.
Greener Rentals Mean Greener Coffers
Sustainability is a surefire way to set your residential building apart. Eco-friendly upgrades usually require significant capital, but these examples prove projecting environmental consciousness can be affordable with the right idea.
Evelyn Long is a writer that specializes in housing market trends. She is also the founder of Renovated Magazine, where she writes essential resources for renters and homeowners. She has contributed to several other sites like National Association of Realtors and Realty Executives.