Non-Smoking Test Proves Profitable for Landlord

by | Jun 24, 2013 | Rental Property Management Tips

After completing a pilot program that started in 2009, property management giant Related Companies has launched a portfolio-wide smoke free initiative for all of its over 40,000 luxury, workforce and affordable rental residences.

Related, a premier brand of luxury rental residences and multi-family housing, owns and operates buildings in 17 states.

tenant screeningThe pilot program, set in Tribeca Green and The Sierra, became the first New York City buildings in a premier asset class to establish smoke-free living.

Jeff Brodsky, President of Related Management said, “In concert with Related’s commitment to sustainability and the wellness of its residents, we are proud to have proactively instituted a smoke-free commitment nationally. As a company, we are constantly looking for new ways to improve our residents’ quality-of-life. Since 2009, Related has initiated a smoke-free plan enhancing the indoor air quality in over 100 buildings representing approximately 20,000 residences. We are excited to be able to now make a firm commitment to include our entire residential portfolio in our smoke-free efforts.”

The demand for smoke-free housing often exceeds the supply available. Over the past several years Related has worked to meet this demand by converting and establishing smoke-free buildings at One Back Bay in Boston, 500 Lake Shore Drive in Chicago, and 1214 Fifth Avenue, Tribeca Green, Tribeca Park, The Lyric, The Sierra and 89 Murray in New York City.

Beginning in June, as a natural extension of the company’s brand promise of “expect more at home,” new residents and their guests will be prohibited from smoking in their apartments or in any common areas of the buildings. Going forward, all renewals — where legally permissible — will include a smoke-free lease rider.

The smoke-free policy will also apply to all of Related’s future rental developments.

“Several of Related Companies’ buildings in New York City have already been recognized as Healthy High Rises by the American Cancer Society,” said Donald Distasio, Executive Vice President of the American Cancer Society’s Eastern Division. “A nationwide commitment is a great next move by Related and illustrates their commitment to public health. This policy should serve as an example to other residential building owners across the country. There is no safe level of exposure to secondhand smoke and the American Cancer Society applauds this action.”

In addition to its smoke-free initiative, Related says it will continue looking at sustainability options, including using low VOC paints, and advancing clean energy generation, management and conservation.

SOURCE: Related Companies

This post is provided by Tenant Verification Service, Inc., helping landlords reduce the risks of renting with fraud prevention tools that include Tenant Screening, Tenant Background Checks, (U.S. and Canada), as well as Criminal Background Checks, and Eviction Reports (U.S. only).

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Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.

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