sustainability - Real estate & Economic


Real Estate

Sustainability means different things in different contexts. Most simply, sustainability is defined as the ability to be maintained at a certain level; and the avoidance of depleting natural resources in order to maintain ecological balance. Sustainability, in the context of real property, requires a grasp of various factors:

  • Property location
  • The property’s historical use
  • Property condition
  • Evaluation of the property’s current and projected environmental risk factors, including proximity to high risk property use and aging infrastructure, flooding and access to drinkable water
  • Risk management
  • Incorporating resilient building materials, efficient energy systems and current technology into the building structure and operations

economic

Economic stability represents another key aspect of sustainable real property ownership. Elements include:

  • A financial analysis of income to operate and maintain the property, such as rental income or personal financial resources
  • Evaluation of the property’s current and projected economic risk factors, including proximity to high risk property use and aging infrastructure, flooding and access to drinkable water
  • A financial analysis of a property’s operating and maintenance expenses
  • Applying an analysis of the property’s condition to fund and stage capital improvements (such as a roof, and heating and cooling system)
  • Identifying ways to streamline operating expenses, including renegotiation of contracts, refinancing and loan workouts      



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**NOTE: This website provides general information which does not constitute legal advice. Before establishing an attorney-client relationship and undertaking client representation, Beth speaks directly to each prospective client and enters into a mutual written agreement with the client.