Smart and Low-Cost Energy-Efficient Building Upgrades Create Big Benefits
Even though 56% of Gen Z renters are willing to pay a higher monthly rent for sustainable features like smart water and composted waste and 40% of renters require green practices, many multifamily owners aren’t offering a truly sustainable property yet, and still have plenty of options for including competitive energy-efficient features.
In the past, the cost to upgrade might have been a major hurdle, but now there are options that reduce the initial investment. Not only has the Department of Housing and Urban Development recently made nearly $1 billion available for energy-efficient upgrades in low-income multifamily properties, but also local utility companies like National Grid are offering their customers financial incentives for these initiatives.