Field Guide to Green Property Management
(Updated March 2009)
Energy and environmental performance are emerging as key benchmarks in how commercial real estate buildings are judged and priced in today's market. According to a recent survey, 88% of corporate and developer respondents expect to own, manage or lease some green properties five years from now. This field guide introduces the importance and value of environmental sound practices in property management as well as giving some ideas on trends, certification programs, and other resources for the green property manager. (D. Shumaker, Senior Information Specialist)
Green Designation
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?
Green Building Takes Root, (REALTOR® Magazine, Feb. 2009). - Green commercial buildings are finally gaining private-sector traction, as owners see real financial benefits from even minor improvements.
Getting Started with Sustainability, (Journal of Property Management, Jan./Feb. 2009). Q - You've gotten on board and have decided it's time to enhance your portfolio's sustainability. Now the question is, where do you start, given these economically challenging times?
Coming up green, (Journal of Property Management, Nov./Dec. 2008). Q - Retrofitting existing properties into sustainable, green buildings isn't an easy task, but it is one that can offer substantial payback for your properties.
2008 Green Building Survey: Fighting Obsolescence, (National Real Estate Investor, Nov. 2008). Q - Sustainability provides owners protection against declining property values, rising energy costs.
Staying Lean and Green, (National Real Estate Investor, Oct. 2008). Q - With rising demand for sustainable space, successful operators answer the call to save resources.
Does Green Pay Off?, (Journal of Sustainable Real Estate, July 2008). - The payoff from wise green investment is easy to justify even if based on purely profit motivations. [PDF document]
Green Leases
Green Leases: A matter for debate, (National Real Estate Investor, May 2008).
Greening Leases, (Journal of Property Management, Jan./Feb. 2008). Q - More and more projects are going green, and owners, managers and tenants need to consider how the change affects their legal relationship and obligations to one another.
Green leases: Signing up for sustainability, (Euromoney, July 2008). Q - With increasing energy costs and new legislation encouraging sustainable building practices, some market participants believe these contracts will become the norm.
Energy Efficiency
Low-cost fixes can yield big savings, (National Real Estate Investor, Oct. 2008). Q - Property owners and managers can ease into a green operations program by taking low-cost measures to conserve energy before committing to a complete green building renovation.
Lighten Up Your Bottom Line, (Buildings, Sept. 2005). Q - Let your lighting system reduce energy and long-term maintenance costs.
Other Ways to Green Your Management
Going Native, (Planning, Nov. 2008). Q - One California city uses indigenous plants-and saves water-in three small parks.
Raise the Roof, (Journal of Property Management, July/Aug. 2008). Q - Green roofs can provide many benefits that a typical roof system cannot, such as decreased heating and cooling costs, better property aesthetics and increased roof life.
Royal Flush, (Journal of Property Management, May/June 2007). Q - Water-free urinals help facilities reduce maintenance, cut costs and go green.
Greening the Carpet-Cleaning Process, (Buildings, Jan. 2007). Q - Today's facility managers are looking for carpet-cleaning products that are not only economical, but also environmentally friendly.
Websites & Certification Programs
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.
The Green, BOMA International's green resource page.
Green Lede, green building news from CoStar.
Green Resource Council, the website for NAR's Green designation.
IREM First: Sustainability, the Institute of Real Estate Management (IREM) is dedicated to supporting real estate management strategies that advance an environmentally sustainable and economically prosperous future.
LEED Rating Systems, the leading commercial building certification standard in the United States, sponsored by the US Green Building Council.
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
Green Cities (Mobipocket)
Land Use Law for Sustainable Development (Adobe Reader)
Sustainable Energy Systems in Architectural Design (Adobe Reader)
Sustainable Residential Development (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
A Practical Guide to Green Real Estate Management, (Chicago: IREM, 2009).
Lease Guide: Guide to Writing a Commercial Real Estate Lease including Green Lease Language, (Chicago: BOMA International, 2008).
InfoPacket 3022: Green Retail: Selected Readings, Oct. 2007, (Washington DC: Urban Land Institute, 2007).
InfoPacket 396: Green Buildings: Selected References, September 2006, (Washington DC: Urban Land Institute, 2006).
Sustainable Property Development: A Guide to Real Estate and the Environment, (Malden, MA: Blackwell Publishing, 2004).
Green Buildings Pay, (New York: Spon Press, 2003).
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Commercial Property Management
Field Guide to Commercial Green Buildings
Field Guide to Green Homes & Green Mortgages
Field Guide to Hotel/Motel Properties
Field Guide to Office Buildings
Field Guide to Retail Properties
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
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