Happy Earth Day, today, and every day.
Each year since 1970, people across the world celebrate Earth Day and demonstrate their support for fighting the climate crisis. In multifamily, stakeholders such as property managers and operators work everyday to meet the desires of residents who advocate for green apartments.
What’s Changing in Multifamily Sustainability?
This is an especially exciting time for multifamily sustainability, as environmental social governance (ESG) is gaining wider acceptance as a driver of net operating income (NOI). Previously, company leaders were not as open to discussing or understanding how sustainability fits into their business strategy, but now they are actively researching their questions on the topic and taking action.
The U.S. governement recently announced the target of net zero greenhouse gas emissions by 2050, and this is sparking action in companies to ensure they take the steps necessary to meet the goal. About 20% of energy consumed comes from buildings (residential and commercial), so the multifamily industry and real estate industry overall are increasingly looking into ways to cut down on carbon emissions.
In 2021, one of the world’s biggest development companies appointed a Vice President of Carbon Strategy, which signals the realization that decarbonization is work that requires roles dedicated to it, specifically in senior leadership.
Multifamily Sustainability Leadership
STRATIS, a RealPage Company, and RealPage continously evolve to anticipate future needs of our customers and provide solutions before they even know they need them. The STRATIS Smart Building Smart Sustainable Solutions and the RealPage Sustainability Services provide immense value to improve water, energy, and waste management and efficiency across multifamily properties.
In addition, the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy awarded the prestigious 2021 ENERGY STAR Partner of the Year Award to Realpage in 2021.
In 2021, RealPage delivered sustainable results for customers. Some highlights include:
- Lowering their environmental impact and resource consumption by nearly 19 mission gallons of water, 5.2 gigawatt hours (GWh) of electricity, and 85,000 therms of natural gas
- Divert landfill waste that lowered CO2e by over 14,000 tons
- Eliminate another 12,400 metric tons of CO2e through renewables procurement
- Benchmark nearly 2100 properties (EPA benchmarking)
- Achieve 100% compliance to energy and water mandates
- Set up an additional 300+ buildings for the EPA’s WasteWise program in 2021
We’re energized by all the momentum in multifamily sustainability, and looking forward to continuing to celebrate Earth day every day.
Want to support Earth Day year round with us? Start by learning more about Smart Living and what multifamily sustainability can do for you with our This is Smart Livin’ video series.
STRATIS®, a RealPage Company, creates smart apartments and intelligent buildings and is the only platform of its kind built for the complexities of multifamily and student housing. STRATIS is installed worldwide across the U.S., in Japan, the UK, EU, and Latin America. STRATIS now serves hospitality, retail, and small to mid-size commercial, as well. STRATIS is an Inc. Magazine “Fastest Growing Company in America” and a Top Ten Entrepreneur Magazine “Best Company in America.” STRATIS was recently acquired by RealPage to enable STRATIS Smart Building, a more connected lifestyle, and unleash hidden yield through new revenue streams.