How can short-term property managers gain from going green?
With the trend of sustainable lodging becoming bigger, short-term rental (STR) and Airbnb hosts must consider how to cater towards eco-conscious guests.
Seiko Ma, managing director of short-term property management organisation Alice’s Home, stated that the increasingly saturated STR and Airbnb market means many property owners and hosts are now looking to cater towards guests’ niche inclinations.
“We have noticed increased requirements for sustainable properties. Eco-conscious guests are requesting properties that invest in renewable energy resources and sustainable practices,” Ma stated.
This trend within the short-term property sector has led many STR/Airbnb property owners to align their businesses with greater environmental goals.
And these initiatives are taking many forms, with Ma describing that property owners may seek to provide a different collection bin to encourage guests to recycle, or explore rainwater harvesting systems that conserve water.
“For property owners, it may be about adding LED lights and energy-efficient appliances to the home. They may look into solar panels if they haven’t already.”
Ma noted that sustainability has been a key focus of Airbnb, with the company launching their Sustainable Housing Plan in 2022.
Through this initiative, Airbnb aims to support hosts in the UK, US and France with energy efficiency improvements, slashing carbon emissions and making long-term savings on their bills to help with the rising cost of living.
“Airbnb recognises that home energy efficiency improvements and renovations can help save on bills and reduce carbon emissions, and have been keen to showcase sustainability practices as a business,” Ma said.
This demand for sustainable properties is expected by Ma to increase further as the year goes on.
Sustainability is becoming increasingly prevalent within the real estate sector, with development firm Third.i predicting a “major shift” in 2024 towards carbon-conscious design fuelled by emerging technologies.