What Is Socially Responsible Commercial Real Estate Management

Property managers today are increasingly committing themselves to larger social and environmental causes. They are aligning their property management functions with the vision of sustainable development. This not only has an impact on the morale of the business but also increases the value of a commercial property many-fold.

Here is a guide to how a property manager can turn their efforts to maintain a commercial property into a service to the society and its environment.

1. Complying with environmental standardsThe first thing a property manager should do is to design systematic programs for commercial real estate management taking into account the environmental standards set by local authorities. It includes

i) Deep understanding of local legislation and guidelines for sustainable development of a property.

ii) Set pragmatic objectives to meet the standards

iii) Periodical review of the targets and improvisation of the practices

iv) Keeping an eye on the ongoing technological developments in the domain of environmental sustainability and updating practices

2. Taking up waste management programs

Active waste management within the premise maintains the environmental health of the property. With successful implementation of waste management programs, the initiatives definitely add up to the assets of the property. Waste management for a property might include

i) Minimization of use of chemical products and replacing them with bio-degradable ones.

ii) Elimination of the use of low micron plastic.

iii) Scientific waste handling.

iv) Installment of bio-composting plants within the premise

3. Taking energy minimization measures

Energy conservation is indeed the need of the hour. Real estate management services can play a very important role in contributing towards this cause with a few simple initiatives.

i) Minimization of water wastage using automated water management in the washrooms and drinking foundations.

ii) Minimization of electricity consumption through the use of energy saving electrical appliances.

iii) Reducing paper waste through complete digitization.

iv) Installment of small-scale recycling plants within the premise.

4. Promoting the causeA sound rental property management demands a cordial relationship with property owners and the tenants of the property. This relationship should be used by the property managers to promote the cause of sustainable development and environmental care. It can be done through

i) Educating and motivating the staff at the establishment to be responsible towards the environment.

ii) Encouraging employees to participate in the sustainable development measures undertaken by the management.

iii) Active promotion of the causes among the customers of the tenant establishment.