Typically upon transfer of ownership, Green Leaf Partners contracts to implement immediate repairs and improvements identified during due diligence that will sustain the current value of the property. Once complete, additional improvements are undertaken that will enhance the value. These may include improved amenities, renovation and upgrading of the individual units. The objective is to make improvements that gain recognition in the submarket, which will then drive demand and the subsequent higher rent and operating income. We aim to create a better living space for renters and increase property value for investors
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Green Leaf Partners will initiate an environmentally-friendly upgrade program at all of its future acquisitions. The company aims to improve the energy efficiency of its properties with specific initiatives that will generate an investment return. Green Leaf Partners plans to utilize energy efficient appliances, lighting and thermostats; low flow plumbing fixtures; solar solutions for common area space and more. Our environmental goals are to:
- Do our part to keep the environment clean
- Reduce our property's energy and water consumption
- Reduce our residents utility expenses
- Enhance investor returns by reducing operational expenses
Energy efficiency has become a big story in the national media and has always been a very real problem for older garden-style apartment buildings. In an effort to address both of these issues we have been working on developing a strategy to become more environmentally-friendly. This strategy has multiple benefits: we will help the environment by creating a more sustainable building, we will save our residents money on their utility bills, we will create goodwill in the community that we can use in our advertising, and we will generate returns as owners of the building by reducing expenses and leasing more units. Many environmentally-friendly changes can be made to the property, but we will only make those that fit all of the above criteria. We refer to our environmental strategy as "Go Green."
Our "Go Green" program will consist of the following:
- Installation of low-flow shower heads and faucets in all units. Based on some conservative projections we believe we can save over 1,000,000 gallons of water per year at one of our properties in Atlanta!
- For $5 per month our residents can "Green" their unit (and also receive a Green Leaf medallion to affix to their front door signifying their "Green" unit). This will include replacing all lighting with compact florescent lights and adding a programmable thermostat. We estimate our residents will save at least $10 a month on their electricity and gas bills due to these changes.
- We are currently looking into pricing on solar energy systems at several of our properties. The idea is to find a national solar vendor that can sell us predefined solar solutions that will help us reduce common area utilities. We will look to finance these projects through one of the many green financing programs available.
Programs:
- Education & Outreach: Green Leaf Apartment managers will work to educate our residents on the importance of energy and water conversation. They will hold quarterly educational meetings to further these efforts.
- Waste Prevention & Recycling: Reducing waste and recycling saves energy and water, and protects air and water by reducing emissions from energy generation and disposed materials. Green Leaf Apartments promotes waste prevention by providing recycling programs for is residents.
- Water Conservation: Green Leaf Apartments encourages water conservation through awareness, prompt repair of leaks, replacement of inefficient plumbing fixtures, and minimizing use of water for landscaping irrigation.
- Environmentally-preferable Purchasing: When purchasing new office equipment and other appliances, units with Energy Star ratings and lower life-cycle costs will be given higher consideration than those with lowest first costs.
Plan Review & Update:
This plan shall be reviewed and updated annually by the Companies principals, with program achievements reported to the properties.
Tracking:
All Green Leaf Apartments will create a bench marking spreadsheet to track energy and cost savings. The total cost and amount of energy (gas, electric and water) will be recorded prior to any environmental upgrades. As environmental retrofitting is completed the on-site staff will track changes in cost and energy usage so that we can tie the savings back to a specific measure.
Awareness:
Green Leaf Partners seeks to increase environmental awareness in the communities in which it does business. The company plans to accomplish this by advertising our "green" amenities and desire to improve energy efficiency and environmental sustainability. The principals of the company also plan to speak to industry groups about our environmental strategies.