5 Reasons Why Property Managers Should Care About IAQ 🔄🏢
By scheduling regular and professional maintenance checks, you not only would prevent damages from occurring. It will also help you lower your energy bills and have your appliances last longer.
Indoor Air Quality (IAQ) is a growing concern in commercial real estate. As a property manager and building owner, you must understand what it implies and how it affects your business.
Here are five reasons why you should care about IAQ:
1. Tenants Health
Indoor air can be up to 5 times more polluted than outdoor air, and the poor quality of your building’s environment directly impacts tenant health. Occupants in buildings with good IAQ report fewer headaches, fatigue, eye and throat irritation, and skin sensitization.
Also, studies have found a correlation between exposure to poor IAQ and an increased likelihood of generating respiratory conditions such as asthma or chronic obstructive pulmonary disease.
2. Tenant Retention
Tenants are more likely to renew leases if they scent the building as healthy, and indoor air quality contributes to a positive perception.
The longer you have a resident stay in your building, the less expensive replacing them with another one.
Also, problems with IAQ during a new tenant’s move-in could lead to increased turnover rates and reduced profits for landlords as these costs increase over time!
3. Building Reputation
If coming tenants hear good things about your building from friends or coworkers, they are more likely to rent. Likewise, if an investor hears about how great your facility is from someone else, that investor might be more inclined to invest in it.
In both cases, it all comes down to our third point: indoor air quality influences building reputation!
4. The Bottom Line
If a property has poor IAQ, tenants may experience health problems and be more likely to leave. This can lead to increased vacancy rates and lowered revenue for property managers—not to mention the added costs of moving tenants out and bringing in new ones!
Also, poor IAQ translates into higher employee turnover rates, increased absenteeism, and lower productivity in the workplace.
5. Regulations Are Evolving
Recently, there has been a rise in attention to the importance of IAQ. The pandemic sparked advocacy for clean indoor air, and many other factors have contributed to this growth.
Carbon emission mandates will directly impact tenants’ businesses by requiring them to invest in new equipment or remodel their offices based on new requirements.
As a property manager, you must be aware of these impending regulations to help your tenants comply with them — not just because it’s good business but also because they might come back at you later if they don’t meet compliance standards.
As a commercial property manager, you have no control over what happens inside your tenants’ offices and businesses. But it’s in your best interest to ensure their indoor air quality is up to par.
Good IAQ is a win-win situation. It benefits the tenants, it helps the property managers, and it benefits the owners.