The beautification war started to attract and retain tenants. These wars are about luxury and convenience, with the goal of giving buildings in similar locations a competitive advantage over neighboring countries. It provides everything from the fleet and Himalayan salt rock climbing wall to the construction of houses in Cambodia and the sale of each unit, and provides mathematical calculations for owners looking for a return on investment in luxury goods. According to the Newmark Group's research, the rent premium for fully-equipped buildings can be increased by 17%, and the rental rate can be increased by 23%.

What attracts residents to the building? What made them stay? With generations of people moving in and out of buildings and some shocking new facilities, this answer has evolved. If the Cambodian Revitalization House has caught your attention, no, this is not an exaggeration. In fact, Vancouver House successfully raised more than US$1 million for World Housing, built 375 houses in Cambodia and helped thousands of people. Although this is not a convenience facility, it is a benefit of signing a building that successfully attracts residents.

"The success of the Vancouver House-World Housing Partnership has set a benchmark for social leadership in real estate development." #worldhousing #vancouverhouse https://t.co/x4ujH1myo9 pic.twitter.com/95ormPCHAo

In addition to social leadership, people regularly vote for other initiatives with their money and where they call home. Some residents today believe that sustainability is an amenity. Is the investment in the building worthwhile for the owner? The calculation of investment, return and savings is as complex as how the building itself operates and integrates many different data sources. These are analyzed in the newly released "Understanding Energy Efficiency Investment in Residential Buildings".

For social, ethical, and environmental reasons, buildings and the companies that own them are placed under the microscope. One high concern is climate change and the impact of buildings on the environment. In fact, according to the report of the National Apartment Association "Adding value in the age of convenience warfare", even when compared to more luxurious options, energy-saving appliances are close to the top of the list of popular facilities. An MIT paper "Multifamily Amenity Wars" shows that the demand for durable, long-lived, and maintainable environmentally friendly products in residential buildings is expected to increase. Which is the most energy-intensive project? The building itself.

The idea of ​​investing in energy-related and cost-reducing building upgrades is not new. However, there is very little data on how much homeowners can save and whether this is important to residents. Now, residents are interested in and demanding that their houses are more energy-efficient and climate-friendly. In fact, the tenant experience is one of the most targeted conveniences in residential buildings: "The tenant experience platform has developed into a major building integrator, and now it plays the key to the umbrella in almost all use cases you can find in a residence. Role. Spaceflow CEO Lukas Balik explained. 

Today’s property owners face the problem of hard dollars. "The cost of green renovation of the entire building is between 2.00-7.00 US dollars per square foot (21.00-75.00 US dollars per square meter), depending on the age of the building, existing design, use, and target savings level," Vice President Iain Campbell Explain that the president of Johnson Controls Global Energy and Workplace Solutions in a report from the Urban Land Research Institute. These costs may also vary depending on the goals of individual buildings and the motivations of residents.

After installing the upgrade, users still need to participate in order to see how much energy has actually been saved. As residents become more comfortable and aware of using data to find baselines and track improvements and progress towards goals, the gamification of energy use begins to accelerate in buildings. The “Gamification Energy Efficiency Program” report of the US Energy Conservation Economics Council found that the gamification energy efficiency program can achieve energy savings of 3% to 6%. Energy-efficient buildings are eligible for certification that demonstrates a 9% rent premium.

With the needs of residents and their interest in energy use, the reason for energy upgrades in residential buildings is no longer a guessing game compared to a few years ago. However, energy upgrades are not cheap, and upfront financial options are limited. Sealing is one such option; Sealed pays for the energy upgrade of a single-family house in advance, and then repays it through the owner's savings. This can predict energy use and savings through algorithms that combine usage and consumption data, and energy reductions are expected to be up to 60%. However, residential buildings do not have the same options.

There is good news; externalities are being adjusted through residents’ needs, social pressures, and government incentives. "Buildings are responsible for up to 40% of the world's greenhouse gas emissions, so landlords not only need to respond, but they also need to lead the way to a sustainable future-now," Barrick said in a new White Paper from Spaceflow. The tenant experience platform aims to help landlords and tenants monitor and control energy consumption in order to exceed their sustainable development goals through its product FLOW.

Although the motivation is here, for the owner, the appropriate next step is not so obvious. Understanding the return on investment of building improvements is a complicated equation, but the data shows that it is worthwhile for building owners, occupants, and the planet, both in the short and long term. Fortunately, everything is starting to move in the right direction, and it is still too early.

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