Tips for Making Your Perth Investment Property More Energy Efficient
Improving the energy efficiency of your commercial property investment is simply good business. Not only are businesses of all size feeling more pressure from employees and stakeholders to improve their sustainability practices, but the Australian Government has also been encouraging private business to seek out Green Leases for some years. As of 1 July 2017, the mandatory threshold for the Commercial Building Disclosure (CBD) Program will also be reduced from 2,000 square metres to 1,000 square metres. It can therefore make a lot of sense to improve your building’s green credentials. Whether you’re making updates to your older Perth investment property or are seeking out the premium returns and satisfied tenants associated with green leases, read on for the most effective improvements.
- Measure and manage
One of the simplest and most effective ways to monitor the energy efficiency of your commercial property investment is to install an electricity monitoring system. Not only will this help you to track changes and make improvements throughout the building, but tenants can also use it to monitor their own costs and minimise their wastage.
- Improve insulation
In Perth’s Mediterranean climate, proper insulation and double glazing can make a significant difference to the heating and cooling requirements of a building. If your air conditioning system is 10 years old or older, consider upgrading your system so commercial tenants can cut costs and emissions.
- Switch lighting over
Although perhaps not immediate in its returns to a landlord, swapping out older lighting to energy efficient fluorescent and LED options can cut lighting electricity use by 75% and help to improve your NABERS rating to further appeal to tenants.
- Check your HVAC system
Heating and cooling systems can count towards a large part of a building’s emissions. The Australian Government offers a guide to best practice maintenance and operation, which is an excellent starting place for information on maximising the efficiency of your HVAC system.
- Improve your BMS
Small changes in a Perth building’s management system can see profound improvements in energy efficiency. The Department of the Environment and Energy has released a building management systems guide to refine systems to fit within the Green Lease schedule.
- Inform yourself before any major works
Western Australia has an Alteration & Additions Protocol for Energy Efficiency for certain buildings. If applicable, you’ll need to adhere to this protocol when undertaking major works.
If you have questions, the Perth commercial property management team at Burgess Rawson is experienced in handling the full range of sustainability requirements and improvements for commercial investment properties.