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Deals & Dealmakers

IREM introduces new sustainability certification as alternative to LEED

Thousands of existing office, multifamily, and retail properties in the U.S. are working toward sustainability goals but cannot get LEED certification.

It’s just too far out of reach and does not make financial sense. Now the Institute for Real Estate Management (IREM) is reporting that those properties can access a meaningful but achievable recognition program that is cost-effective and does not require hiring a consultant.

The IREM Certified Sustainable Property is customized to property managers – whereas LEED’s requirements are often out of a property manager’s control.

Many properties have successful sustainability programs but no way to validate them and demonstrate green performance to stakeholders.

IREM saw a need for a new sustainability certification program, one that is attainable, affordable, meaningful, and available to three main property types — office properties, multifamily communities, and shopping centers.

“IREM believes that good management matters and that it improves the quality of life for the people who live, work and shop in the properties we manage,” sais Lori Burger, CPM, IREM President, Eugene Burger Management Corporation, AMO, Rohnert Park, California.

“The IREM Certified Sustainable Property certification demonstrates quality, responsible management to owners, tenants and residents, and other stakeholders.”

This new sustainability certification is a tool for meeting investment goals through expense reductions, potentially higher revenue, and overall value enhancement. Every property manager should be able to use this tool where it makes sense.

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