5 Reasons Why Should Property Managers Care About IAQ
Indoor air quality (IAQ) is a growing concern in commercial real estate. It is becoming increasingly important for property managers and building owners to consider. IAQ can impact the bottom line by reducing employee productivity, increasing absenteeism and turnover, and negatively impacting customer satisfaction. IAQ is also a legal issue that can lead to fines or even lawsuits if your building is not meeting standards.
As a property manager, you need to understand what IAQ is and how it affects your business. Here are five reasons why you should care about IAQ:
1. Indoor Air Quality Impacts Tenant Health
It’s estimated that indoor air can be up to 5 times more polluted than outdoor air, and the poor quality of your building’s indoor environment directly impacts tenant health. Occupants in buildings with good IAQ report fewer headaches, fatigue, eye and throat irritation, and skin sensitization.
These findings are supported by other studies that have found a correlation between exposure to poor IAQ and an increased likelihood of developing respiratory conditions such as asthma or chronic obstructive pulmonary disease. An increase in sick days is another common reason employees miss work because of poor IAQ.
Indoor Air Quality Impacts Tenant Retention
Environmental sustainability, energy efficiency, and indoor air quality are important for property managers who want to attract and retain tenants. Tenants are more likely to renew leases if they perceive the building as healthy, and indoor air quality contributes to a positive perception.
When a tenant moves out of your building, replacing them is expensive and time-consuming. The longer you have a tenant stay in your building, the less expensive replacing them with another tenant. This is because you don’t have to pay for advertising costs or commission fees from real estate agents who help find new tenants.
In addition, once you find a new tenant, it takes time for them to move into your building and get settled in their new office space. It also takes time for them to get familiar with their surroundings and build relationships with neighbors and other residents in the building. If there are problems with IAQ during this transition period, it could lead to increased turnover rates and reduced profits for landlords over time as these costs add up over time!
If your business is in an area with poor outdoor air quality (for example, near a highway), it is imperative to keep the air inside of your building clean. If the air drawn in by your HVAC system contains pollutants, the air inside your building can become polluted, too. Additionally, if you’re in an industry where the use of dangerous chemicals is required (such as construction or agriculture), practicing indoor air quality awareness will help prevent exposure to these harmful substances.
3. Indoor Air Quality Impacts Building Reputation
When you have a strong reputation in your industry, people will want to work with you. This is true whether you’re dealing with tenants or investors. If prospective tenants hear good things about your building from their friends or coworkers, they are more likely to rent there. 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 impacts building reputation!
4. Indoor Air Quality Impacts the Bottom Line
Indoor air quality is not just an environmental issue; it’s also a financial one – in fact, total costs to the U.S. economy from poor IAQ range as high as $168 billion per year. If a property has poor indoor air quality, 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!
Poor also IAQ translates into higher employee turnover rates, increased absenteeism, and lower productivity in the workplace. And when employees leave for better jobs or take their business elsewhere because of a less than ideal work environment, it can be costly for tenants already struggling with high unemployment rates and low consumer spending.
5. Indoor Air Quality Regulations Are Evolving
In recent years, there has been a rise in awareness of the importance of IAQ. The COVID-19 pandemic sparked advocacy for clean indoor air, and many other factors have contributed to this growth in awareness.
Carbon emission laws are also being rapidly implemented across the country and worldwide. These laws range from restricting certain chemicals like formaldehyde in buildings to mandating that HVAC systems meet specific efficiency standards. These mandates will directly impact your tenants’ businesses by requiring them to invest in new equipment or remodel their offices based on new requirements.
As a property manager, you’ll need to 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.
Tips for Good Office Indoor Air Quality
Proper ventilation helps ensure enough fresh air is brought into the building and enough stale air is removed. This is especially important for facilities that don’t have windows or doors that open, such as office buildings.
Filter Out Pollutants
You can install upgraded filtration for your HVAC system, which will help remove some contaminants from the air before circulating it throughout your building.
Employees who are happy with their working conditions are less likely to quit their jobs. This means lower employee turnover rates which means fewer costs associated with the recruitment and training of new employees.
Cleaning HVAC System Components Regularly
Keeping your air handling units and air ducts clean will help prevent dust and mold buildup, which could be a source of allergens when circulated back into your office space during heating/cooling cycles.
Schedule Regular Maintenance Checks
Schedule regular maintenance checks with a professional contractor who knows how to deal with IAQ issues – they may be able to find ways you’ve overlooked because they’re more familiar with what works best under different circumstances than you might be! If something goes wrong unexpectedly and nobody knows what caused it, there’s no telling what kind of damage could occur.
get a fantastic return on investment.
Indoor Air Quality Monitoring for Property Managers
As a commercial property manager, you want to provide a clean and comfortable environment for your tenants, but you can only do so much. You have no control over what happens inside your tenants’ offices and businesses. But if you’re a property manager, it’s in your best interest to ensure that their indoor air quality is up to par. Good IAQ is a win-win for all. It benefits the tenants, it helps the property managers, and it benefits the owners.
Take the guesswork out of indoor air quality monitoring – with SAST iAQ Pro, you can quickly and accurately monitor your indoor air quality and be confident that your tenants and their employees are working in a healthy environment.
SAST iAQ Pro is the only IAQ monitoring system that combines world-class health and energy sustainability technology with the most reliable, accurate, easy-to-use air quality monitoring system. With SAST iAQ Pro, you can comply with all relevant building regulations and standards. You’ll also gain greater insight into the factors that affect your building’s air quality—as well as ways to improve it.
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