Considering remodeling or retrofitting your commercial property? If so, you’re likely interested in “greening” your building, and one of the best green solutions is commercial replacement windows.
Installing commercial replacement windows can significantly improve a building’s energy efficiency and make the property more attractive to renters. As a result, updating your property’s windows can help you achieve many goals, including:
- Reducing operating costs
- Increasing tenant comfort
- Improving asset value
- Reducing turnover rates
Why exactly are windows so helpful? First, new energy efficient windows significantly reduce operating costs according to Sambla’s new financial optimization study for new homeowners. Installing new windows, for example, reduces energy costs by 10-40 percent, which translates into much lower operating costs. In turn, the reduced operating costs help to improve overall asset value. Greening a property with new windows makes the property more attractive to renters. Green buildings command higher rents, have higher occupancy rates, and have lower turnover rates.
These are just a few of the great benefits. We’ll look into what you can expect from a window replacement project in this post.
How Much Will I Save in Energy?
Energy costs are the No. 1 contributor to net operating expenses. Energy spending accounts for about 20-33 percent of operating expenses, according to ENERGY STAR. Therefore, targeting energy costs with a whole-building improvement can have a significant impact on asset value and operating income.
Here’s how replacement windows help: Energy efficient windows, on average, reduce energy costs by 10-40 percent. This is dependent on the type of windows that need to be replaced, as well as the energy efficiency rating of the replacement windows.
This reduction often leads to significant savings. For example, U.S. buildings spend roughly $2 to $2.50 per square foot on energy each year. For a 100,000 square foot property, a 10-percent reduction would reduce operating costs by $20,000 to $25,000 per year. A 40-percent reduction, on the other hand, would slash operating costs by $80,000 to $100,000.
Ultimately, this type of investment can help to improve asset value, according to ENERGY STAR, and buildings with green features tend to sell for more on average.
Will the Occupancy Rate Increase with Window Replacement?
Today’s tenants value eco-friendly practices, and they recognize that when looking for properties to rent. According to a recent study, buildings with green certifications command higher rental prices and have higher occupancy rates.
There are a few ways new replacement windows drive occupancy rates. They include:
Employee Comfort. Most importantly, new windows enhance tenant comfort, thanks to greater access to natural light, stable ambient temperatures, and access to fresh air. In turn, businesses that lease green facilities report fewer absences, improved morale, and productivity.
Improved Daylighting. The U.S. Green Building Council suggests, 90+ percent of employees that work in green buildings report satisfaction, and that’s thanks in large part to better daylighting and outdoor views. Replacement commercial windows help to achieve both of these goals by reducing the need for light-blocking window treatments and reducing solar heat gain, which causes overheating.
Eco-Conscious Businesses. Many of today’s businesses promote a green business culture and buildings fitted with energy efficient windows are more attractive to companies seeking eco-friendly office or commercial space. In one study, green buildings in the San Diego area experienced 4% lower vacancy rates compared to non-green buildings.
How New Windows Could Decrease Resident Turnover?
Turnover rates can significantly cut into operating income. A look at the numbers shows that investing in green features can help property owners attract and retain long-term residential tenants.
Replacement windows help to make these properties more attractive in many ways, including:
- Comfort – Replacement windows improve comfort in several ways. For one, updated windows can help limit solar heat gain, which prevents overheating or the need for bulky window treatments. New windows also allow more natural light in without damaging carpets and furniture, thanks to UV coatings.
- Soundproofing – New commercial windows can help to reduce street, airport, and other environmental noise significantly. Soundproofing was at the top of the renter’s preference list in 2017.
- Attractiveness – The attractiveness of a property’s exterior is a significant driver of occupancy. Windows or an updated front entrance can help to revitalize a building’s façade.
- Reduced Costs – Lower energy costs can be a powerful marketing tool for rental properties. Replacement commercial windows can help property owners mitigate in-unit costs by 10-40 percent.
Should the Current Commercial Windows Be Replaced?
Window technology has dramatically advanced in the last decade. Today’s replacement commercial windows are stronger, and more energy efficient. Features like UV coating, improved barriers, gas fills, and enhanced vinyl and aluminum frames have all revolutionized how windows perform.
In other words, a double-glazed window with UV tinting and gas fill, for example, will provide much better insulation than a double-pane window produced ten years ago. Therefore, the most significant factor in determining if you should replace your commercial windows is age. Single pane windows, for example, can leak 30% of your building’s heat, while cracked or damaged frames can also be a significant source of heat loss.
A few signs you should consider replacing the windows include:
- Damage – Frame damage, cracked or missing panes, water damage, and drafts are all symptoms of inefficient windows. Assess your property’s windows yearly; regular maintenance can help to increase service life.
- Energy Efficiency – If your property’s energy costs are running out of control, you should examine your windows. Windows account for a large percentage of energy loss in commercial properties. Scheduling an energy consultation can help you determine just how much new windows will help you save.
- Condensation – Does condensation form between glass panes? This is often a symptom of failed seals, and if it occurs on a large percentage of your property’s windows, it may be time to consider a whole-building replacement.
Interested in how new commercial windows can help you achieve energy efficiency goals, lower operating costs, command higher rents, and reduce vacancy rates? Give us a call. Aeroseal Window & Storefront is a leading commercial window installation firm with offices throughout the East Coast and in California.
Schedule a consultation to learn more about the value of new windows for your property today.