5 reasons why retrofitting a building is good for real estate owners
The Why of Retrofitting
Be it an apartment complex, or a fulfillment center; any old building could do with a smart retrofit. Here are a few reasons why:
1.Attract more tenants
With every passing year, more people are becoming weary of the many pitfalls of climate change. They now realize that everyone must play their part in keeping our planet green and clean. That’s why occupants are willing to pay more for energy-efficient, smart buildings that leverage technology to reduce their carbon footprint. According to a Johnson Controls survey, 70% tenants believe that the ability to smartly predict and solve problems is a “game-changer” technology.
2.Competitive positioning
As a business owner, you want to stand out. You want to have a strong competitive advantage. A smart building helps you do just that. Since you spend a lot less on energy than your competitors, you can afford a heftier maintenance budget. In addition to this, you can also charge high rental rates for the better living standard that you are offering. Your property increases in value owing to the high demand and superior environmental consciousness. This is one of the reasons why the smart building market is expected to grow to 79 billion dollars by 2025.
3.Easier, cost-effective operations and maintenance:
Buildings equipped with state-of-the-art management software (like ClevAir) can be managed from a central dashboard. No more rushing to a different building every day to fix trivial issues; engineers can access most machines/sensors remotely.
4.Reduced energy bills:
Retrofitting old buildings has always guaranteed energy savings. Customers of ClevAir have reported between 14 to 40 kWh/m2/year in savings over the years. Most recently, ClevAir helped GNP Areal increase its energy optimization by 35%; you can read more about it here.
5.Energy consumption and carbon benchmarking:
As an environmentally conscious building owner, you need to benchmark your energy consumption. For example, here is how different office buildings in the Scandinavian areas fare against each other:
If you fall anywhere in the high percentiles, you need to seriously evaluate your operational energy consumption, and perhaps, consider getting a smart retrofit.
If you want to find out the most common challenges of retrofitting old buildings and how does the retrofitting process look like, continue reading at: How and Why Retrofitting Old Buildings is Both Necessary and Profitable
Originally published at https://clevair.io on February 10, 2020.
