Overview: Important Invoice Analysis Features Available to Users: Portfolio analytics Cost ($) Graph Summary Chart Property Analytics View Asset and building characteristics and supply contracts Review invoices with audits After automatic or manual invoice acquisition, WatchWire provides unique functionality to…Read full post
What is “Green Building”?
Utilities expense is the number one most controllable cost for real estate, so property managers continually look for ways to reduce energy use and costs. In addition to cost savings, property owners understand the drain on the environment caused by high energy use, so they seek the means to leave less of a carbon footprint. Building owners are becoming more accountable to shareholders, stakeholders, and tenants alike when it comes to sustainability efforts.
What is green building: “Green building” can be defined by Brundtland Commission for UN (1987), adopted by Vancouver Valuation Accord in 2007:
“…development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”
A green building is a property that focuses on efficient utility use, tenant welfare, and the environmental impact of the building envelope. These buildings seek to reduce waste and environmental impact while protecting tenant health.
According to the “Green Building Council,” there is a demand for green buildings. The demand stems from green buildings producing increased occupancy rates, increased ability to secure financing, lower transaction fees, and a higher sales price. The question becomes: do green buildings really increase asset values?
What is Green Building: Increased Net Operating Income
The growing demand for green buildings by tenants, investors, and regulators positively influence rents, tenant retention, and regulatory incentives. Green buildings are less expensive to operate and provide greater occupant comfort.
Tenant renewal is important, as the cost of a tenant leaving can be high. If a tenant renews, there is no downtime, potentially lower brokerage fees, and less tenant improvement allowances (TI). With high tenant turnover, there is a loss of income, as well as incurred costs in the form of brokerage fees and higher TI.
Global Energy Landscape The report acknowledges that while immediate pressures from the global energy crisis have eased, the energy markets, geopolitics, and the global economy remain unsettled with risks of further disruption. Fossil fuel prices have declined from their 2022…Read full post
Defining Characteristics of BPS: --> Performance Target: either in terms of on-site energy use intensity (EUI) or annual greenhouse gas emissions— for each building type (e.g. one target for offices, another target for multifamily, etc.). --> Timeframes: Buildings subject to…Read full post
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