The use of environmental, social and governance (ESG) reporting is increasing. Achieving a point where a development has a positive ESG impact should be the goal of all investors and developers.
Why ESG?
Tenants are increasingly basing their rental and purchasing decisions on the potential environmental and social impact of their homes. It is therefore in the best interests of investors and developers to create schemes that meet these needs.
The World Bank makes the case that ‘Green’ buildings can:
- Yield up to 23% higher occupancy rates
- Provide 8% higher rental income
- Create 31% higher sale premiums than traditional buildings
Other industries such as fashion, entertainment, technology, and leisure have demonstrated a clear connection between ESG and enhanced returns. Consumers, including shareholders, are demanding integrity – and changing their spending choices to get it. The property industry has the opportunity to do the same, embracing robust, genuine ESG investments.
Where to start?
People should be at the centre of everything you do, with the goal of providing great homes, creating healthier places to live, and boosting the social and economic worth of the surrounding neighbourhoods.
Spike Global provides software solutions that connect property managers with residents, as well as creating a closer link to the wider local community. Here are some of the ways our clients are benefiting.
Engagement
Our resident portal, Spike Living, allows developers to promote best practices and provide key building information such as where to find the nearest recycling point, fire safety policies and procedures, as well as ways in which residents can reduce their own impact on the environment.
Operators can also easily and quickly share ideas with residents and gather useful feedback on proposed building initiatives and schemes, as well as enabling the proactive reporting of building and maintenance issues, ensuring problems get rectified sooner, whilst at the same time providing a full digital paper trail.
Spike Living facilities the use of communal areas by allowing residents to book out a room or reserve a slot at a gym class, all via their phone, turning what typically is an archaic process into a seamless and easy task. This encourages residents to spend more time enjoying their buildings, and not having to worry about the stress of gaining access.
Supporting the local community
Our clients use Spike Living to bring the local community to their residents by utilising the ‘around me’ feature to provide much-needed visibility to smaller businesses and encouraging their residents to explore what’s on their doorsteps. Building operators can also partner with local shops and restaurants to offer residents exclusive discounts and incentives, all via their residents’ app.
Measuring performance
Residents’ apps like Spike Living provide building owners and operators the opportunity to truly understand what their residents are interested in, from amenities and services usage, to monitoring resident satisfaction. You can also analyse the performance of each building and identify areas to maximise operational and cost efficiencies, such as response time to support enquiries, number of maintenance defects reported, and other complaints filed.
Summary
ESG may sound like a daunting and complex subject, but it can be achieved through consistent actions, communication, and a drive to make a difference from everyone involved in a development, from investors, operators, residents to contractors. It’s important to see ESG as a journey, and not just a destination.
Get in touch to learn how we’re supporting leading developers and operators with their ESG initiatives.
