Retail operations in Vancouver are numerous. Initially, green building design plays a role in the sustainability of the facility and its operations, but building owners can further improve efficiency through their leasing efforts. By modifying retail leases, building owners can better manage the performance and efficiency of their green building in Vancouver. Consider the following modifications for your retail leasing operation:
Lengthen Lease Terms
Most retail businesses lease a space and perform a build-out to meet the needs of their business. These build-outs are not only costly, but can create waste when the modifications from previous tenants are torn out. Lengthening the lease term allows the tenant to invest more in efficiency upgrades rather than choosing other investments due to the short lease terms. Keeping a tenant in place longer means less build-out waste for the space.
Specify Build-out Constraints
In addition to lengthening lease terms, building owners can provide specifications for tenant build-outs. By doing so, building owners can promote the use of sustainable building materials and practices amongst tenants.
Reconsider Tenant Utility Usage
When tenants are responsible for the entirety of utility expenses, owners have little incentive to make efficiency improvements. Consider further improving your green building design by making upgrades which will benefit your tenants. Building owners can benefit by splitting utility costs and making these improvements, which will garner favor from tenants and improve overall building efficiency.
In the retail lease, provisions can be noted regarding the sharing of utility usage data between building owners and tenants. This transparency can encourage joint efforts between building owner and tenant to increase efficiency efforts.
Specify Space Usage
Green buildings in Vancouver which house retail operations can hold numerous industries. Some retail operations, such as various cleaning businesses, may use chemicals that are not environmentally friendly. Building owners can use their lease to restrict these operations to using only approved chemicals and encourage tenants to decrease negative impact and greenhouse gas emissions. This way, an owner still has control over the building’s impact.
Specify Recycling Usage
Use retail leases to further improve retail green buildings in Vancouver by promoting beneficial services. Building owners can specify in the retail lease whether or not the tenant will be participating in recycling efforts to reduce waste at the facility. Further, allowing the tenant to bundle services with the building owner and other tenants can reduce costs and provide additional encouragement to participate.