Project Abstract

Despite the feasibility of improvements to increase energy efficiency and ameliorate the environmental stress caused by the operation of commercial buildings, many existing buildings in this sector have failed to make these changes or adopt best environmental practices. The Sustainable Property Rewards (SPR) Initiative seeks to leverage the market influence of Yardi Systems, Inc., a leading property management software provider, to disseminate information on available building improvement options to commercial property managers, as well as discern the barriers to implementing changes. To approach the target market, the SPR Initiative Pilot Program will conduct general environmental audits of a subset of commercial buildings in Southern California. Based on findings from the audits, the SPR Initiative team will draft recommendations for more efficient energy and water usage and improved materials procurement. An educational package summarizing these recommendations will inform property managers of the range of potential improvements as well as elucidate the direct and indirect benefits they can realize by implementing the suggested changes. Interviews with included property managers will identify the improvements they have chosen to carry out and illuminate the obstacles that may have prevented implementation of specific building improvements. The results of the SPR Initiative Pilot Program will lead to a recommended course of action for the adoption of the SPR Initiative and widespread implementation by Yardi Systems Inc.

Research Question

Will an educational package that informs commercial property managers on the risks, costs, and rewards of reducing building inefficiencies be sufficient to incentivize improvements in building performance?

Objectives

  1. Implement a pilot program that increases the likelihood of sustainable building management practices among Yardi’s clients in the commercial building sector. The program will achieve this objective by:
    • Performing audits on specific commercial buildings and developing them into case studies
    • Analyzing those audits to craft specific recommendations for improvement of those buildings
    • Analyzing the direct and indirect benefits that derive as a result of these improvements
  2. Survey property managers to determine the current level of building performance, as the barriers and incentives associated with green buliding upgrades
  3. Utilize audit and survey findings to propose recommendations to Yardi Systems for development and expansion of the program