Calendar icon February 6, 2023

The Indoor Air Quality Benefits of Plants

Did you know that certain plants actually help filter out toxins from your home?

 

Your next breath of fresh air is no farther than your nearest house plant—depending on the kind of plant and how many you have. The science behind it is solid: we know plants clean the air. We also know Americans spend about 90 percent of their time indoors. According to the U.S. Environmental Protection Agency, the air inside is often worse than the air outdoors. One reason? Modern, airtight construction that saves energy also allows indoor air pollution to build up. That means Americans spend a lot of time breathing potentially unhealthy air, even though there are ways to filter it. House plants are an underutilized way to make your indoor air healthy again. Here are some of the indoor air quality benefits of plants and how it works.

Photosynthesis

Let's go back to fourth-grade science class for a refresher on photosynthesis. It's the process by which plants take in carbon dioxide and release oxygen. Using sunshine, water, and the green pigment chlorophyll, the plants strip the carbon from the air to produce glucose, leaving oxygen as a waste product expelled back into the air. What plants consider waste is vital to us. Our atmosphere is about 21 percent oxygen. If it drops below 19.5 percent oxygen, we can't breathe. This is why America’s obsession with green lawns is actually environmentally friendly! Think of it as suburbia's version of the Amazon rainforest. We need plants all over the world to continually release oxygen for us to live. But oxygen production is not the only way plants clean up the air we breathe. They also remove poisons from the air, and scientists have spent decades studying this process.

The Landmark Study

When you think about scientific breakthroughs, you might think about the discovery of penicillin or the polio vaccine. Thirty years ago, scientists at NASA made another discovery. They found common plants cleaned up poisons such as benzene, formaldehyde, and trichloroethylene. These volatile organic compounds, or VOCs, are common to indoor spaces and can cause anything from skin irritation to cancer.

Common daily items that contain formaldehyde include:

  • Insulation
  • Particle board
  • Paper bags
  • Carpet backing
  • Natural gas

Benzene is found in:

  • Gasoline
  • Ink
  • Paint
  • Plastic
  • Rubber

You’ll find trichloroethylene in:

  • Dry cleaning chemicals
  • Printing ink
  • Varnishes
  • Lacquers
  • Adhesives

So basically, one or more of these chemicals are present in just about every indoor environment you encounter. That's a lot of VOCs that you're breathing in, unaware of dangers they may pose.

At the time of the 1989 study, NASA was trying to mitigate these chemicals so they could one day seal astronauts in a space station without killing them. The study called plants a "promising, economical solution to indoor air pollution." (And for the record, there have been no deaths onboard the International Space Station, so they clearly figured it out.)

 

Gerbera Daisy

Getting Into The Weeds

The gerbera daisy is the pleated air filter of the plant world when it comes to cleaning trichloroethylene and benzene from the air. The plant removed most of both chemicals out of all the plant species tested in the original study. The NASA study lists how each of the plant species performed during research. The pot mum and peace lily ranked second and third on the list of plants that remove the most benzene. Marginata (aka dragon tree) and peace lily ranked similarly on the list of plants that best remove trichloroethylene.

The top three formaldehyde removers, in order of how many micrograms each plant removed from the air, are:

  1. Bamboo palm, which cleaned about 76,700 mg of the chemical per plant
  2. Janet Craig
  3. Mother-in-law’s tongue, also known as the snake plant

Newer Studies

Twenty years after the first indoor plant study, the American Society For Horticultural Science (ASHA) published a follow-up study. Researchers tested 28 plant species for their ability to cleanse the air of dangerous chemicals such as benzene, toluene, octane, trichloroethylene, and terpene. The CDC says toluene, an ingredient in paints, nail polish, and gasoline, has adverse impacts on the brain and nervous system. Octane is an eye and respiratory irritant.

This newer study also found that indoor ornamental plants remove these harmful chemicals. But there are a lot of variables. For example, are the plant and chemical in a sealed container or in an open room? Researchers behind the ASHS study concluded: "Plants also have the potential to significantly improve the quality of indoor air."

 

English Ivy
 

Here are the top five chemical removing house plants, according to the ASHS study:

  1. Waffle plant
  2. English, or common, ivy
  3. Purple heart
  4. Asparagus, or foxtail, fern
  5. Wax plant

More studies need to be done to figure out what combination and how many house plants you need to remove any given amount of indoor pollutants. If the past studies hold true, plants, in general, are an excellent idea.

The year after the ASHS study was published, scientists at the National Center for Atmospheric Research (NACR), found plants and trees absorb more air pollution than initially thought. About one third more, in fact. NCAR's outdoor study found that the denser the vegetation, the more volatile organic compounds are absorbed. There is some controversy around applying this study to the indoors. Still, it at least emphasizes the point that plants do indeed clean the air. The more plants there are to absorb the poisons, the more significant the effect.

A Breath of Fresh Air

The consensus right now is that you'll need a LOT of indoor plants to make a big difference in the quality of the indoor air you breathe. You could live or work in a greenhouse, and the plants still wouldn't replace modern ventilation or HVAC systems. But if you use indoor plants in conjunction with air cleaning technology, you'll get the most out of nature and innovation. A review published in Trends In Plant Science suggests house plants, combined with air filters and smart technology, clean the air.

Consider creative ways to incorporate plants into your indoor space—such as a boxwood hedge wall, or a container garden of gerbera daisies. If you have the room, think about bringing in a banana plant to frame the room with its graceful, chemical-eating leaves. Or consider a vertical garden, where you can arrange English ivy and purple heart along with gerbera daisies from top to bottom.

How Clean Is Your Air?

There are still questions about how much indoor ornamental plants clean up the air. Some of the variables include the dimensions of your environment and how many chemicals are in the air. That can fluctuate, depending on how the space is used. You also need to take into account how close it is to industrial sites or heavy traffic, or even how many people in the room are wearing dry cleaned clothes. These are all things to consider if you're using plants to purify the air in your office or your home.

Modern technology leads to more air pollution and less time to spend outdoors. With the right plants and the right air filters, you can take control over what you breathe. Think of it as breathing right. Most people try to eat right, minimizing the bad stuff and trying to eat more natural foods. So why wouldn't you watch what you breathe too? Those house plants in your window or your office space remove harmful toxins from the air. If you increase the number of plants you have, add plants that remove bad chemicals, and change your air filters regularly, then you and your family will breathe easier.

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Chambers Theory Endorses Second Nature’s Resident Benefits Package

Chambers Theory is a world-renowned property management team with clients in more than 30 countries worldwide. They specialize in serving the U.S. military, State Department, and Foreign Services families. Their motto “Real Estate With Intelligence” is more than just a saying. It’s on full display through the introductory videos for landlords and residents on their website in seven languages (Spanish, Portuguese, Italian, Vietnamese, French, Croatian, and English) - all spoken fluently by their own property management (PM) team. Since its founding in 2018, Chambers Theory has been achieving extraordinary performance benchmarks. They’ve led the marketplace in delivering the “Golden Triangle of Success” to their clients, which means the lowest vacancy, the highest average rents, and the highest quality of tenants of any property management firm in its same service area. They’ve also donated over $100,000 to local charities and community organizations, while also leading the way in promoting sustainability practices in real estate and property management services. Their outstanding team attributes their success to their ability to develop and utilize their emotional intelligence skills to capacity to care with all their interactions with both landlords and residents. That’s why they fully endorse the Resident Benefits Package at Second Nature! Find out more about what a Resident Benefits Package is, its benefits, and how it can help create a Triple Win for you, as well as your residents and investors. Related: The State of Resident Experience Report

Calendar icon July 18, 2024

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Investor Experience Platform™️ IXP™️

An Investor Experience Platform™️ (IXP) in property management is a suite of products, services, and benefits offered by property management companies to property investors. Just like a resident benefits package is a way to drive value for residents, investors, and property managers, the IBP™️ is an innovative approach to property management that focuses on driving value for an investor's assets and turning that value into profit for the property management company. In this article, we’ll dig into the different features that an Investor Experience Platform™️ can include, and how those benefit not just investors, but property managers and residents, too. What Is an Investor Experience Platform™️ (IXP)? As stated above, an Investor Experience Platform™️ (IXP™️) is a comprehensive suite of services that offer property investors higher quality property management, stability, and profit. An IBP™️ typically includes concierge-level services beyond basic property management – such as property insurance policies, eviction guarantees, rent guarantees, maintenance plans, asset performance reports, etc. These services are aimed at maximizing the investor’s assets, stability and convenience, profitability, and peace of mind in managing their properties. They're commonly managed through an investor experience platform to securely manage and monitor the performance of these assets online, which we'll discuss later. The first step to outlining an IBP™️ is to define what your basic management fee means and covers. If the answer is, it’s collecting rent, handling maintenance, and general communication – does that include maintenance coordination or is that a separate fee? Does it include asset reporting or is that an additional service? In your management agreement, define what the management fee is, what it covers, and how much it is. An IBP™️ can be an effective tool for articulating the new and differentiated things that an investor wouldn’t be able to do on their own and that you are offering beyond basic property management. Articulate your unique and differentiated services (IBP™️) and use that as a tool for positioning and charging for what it’s worth. What’s Included in An Investor Experience Platform™️? An Investor Experience Platform™️ should include a range of solutions to help deliver consistency, insight, and asset protection to a property owner’s portfolio. After all, professional property managers don’t have to be functional managers of a home – they can be strategic partners in the management of financial assets. You might hear services similar to the IBP™️ called an “owner benefit package,” but at Second Nature, we believe that the “investor” term is useful in encouraging a longer-term mindset, and emphasizes the economic value professional property management can bring. According to Eric Wetherington, VP of Strategic Initiatives at PURE Property Management: “As property managers, we need to think more like asset managers. This client made an investment, and we should be guiding that client through managing that investment, not just collecting rent.” To build and manage a winning IBP™️, property managers need an Investor Experience Platform that unlocks scalable product and service customization, digitized onboarding, accounting policy automation, and more. In addition, Investor Experience Platforms provide transparency and convenience for your investors. Here are some of the most valuable services that property managers can offer through an innovative Investor Experience Platform™️. Property insurance program Similar to offering a renters insurance program through an RBP in the lease agreement, property management companies can offer an insurance plan to investors to cut costs and ensure the safety of their assets. Most management agreements will include the requirement that the investor carries insurance on the property and that the property manager is additionally insured. But what if you as the property manager could help manage that for the investor – at scale? Property Insurance for investors should have dynamic pricing based on individual investors’s property portfolio and needs. The benefit beyond flexibility is the savings they’ll see on their premiums while also getting insurance that’s tailored to the needs of their specific property class. At Second Nature, we work primarily with single-family rental properties and small multi-family residences. Property Insurance Programs can bring scale that will drive economic value for the investor over what they could get retail on their own. They’d still have the option to go get their own insurance that meets requirements, but they can pay you a small fee to manage it for them. Rent guarantee An IBP™️ can include a number of financial guarantees to protect property investors and drive ancillary revenue for PMCs. A rent guarantee, or rent protection, ensures a consistent rental income to investors by protecting them against resident defaults or non-payment of rent. If a resident fails to pay rent, the property management company covers the unpaid amount and takes necessary steps for eviction or collection, providing financial security and minimizing the risk for property owners. Rent guarantees work for professional property management companies that have enough properties to balance the loss of rent if a resident doesn’t pay. The risk is low and the additional profit from fees for this guarantee can have a very high ROI, while driving satisfaction and stability for the investor. Plus, if you’re using services in an RBP to help incentivize on-time rent payments, you’ll rarely find yourself out in the cold. Eviction protection guarantee An eviction protection guarantee also goes beyond the normal scope of property management services and can be used as a secondary source of revenue. Eviction Protection is a service provided by property management companies to property investors that offers additional security and financial protection in the event of an eviction. Under this guarantee, the property management company assumes the costs associated with the eviction process, including legal fees and court expenses. It helps alleviate the financial burden on property investors and provides peace of mind by ensuring that they are safeguarded against potential losses resulting from resident evictions. The eviction guarantee helps protect property owners from the complexities and potential costs associated with evictions, ensuring a smooth and efficient resolution to tenant-related issues. Pet guarantees & other guarantees A pet guarantee is a service offered by property management companies to property investors that aims to address any potential issues related to allowing pets in rental properties. It typically involves implementing policies and procedures to ensure responsible pet ownership, such as thorough pet screening, pet agreements, and collecting additional pet deposits or fees. The pet guarantee may also include services like pet damage insurance or assistance with pet-related issues during the lease term. It provides property investors with a framework to accommodate residents with pets while minimizing risks and maintaining the condition of the property. For many residents, finding a pet-friendly apartment increases retention and profitability. They’re willing to stay longer and pay more for a pet-friendly place. And–get this–pet damage is less likely to happen than damage from kids! It’s not a huge risk to the asset, but can provide a big benefit in terms of satisfied, longer-term residents. Maintenance plan Home warranties are a four-letter word for property managers. They’re a massive headache to deal with, and yet there’s high demand for them among property investors. Because of that, most property managers charge a fee for home warranties, for each they have to file. Imagine if there was a world where home warranties weren’t needed. Here’s the thing: Professional property managers already have the vendor network and the know-how to coordinate maintenance jobs. What they don’t usually have is a product that’s priced to give the investor the experience they want. Let’s say right now an investor is paying $50 a month for a cheap home warranty. The warranty only covers 40% of issues and it creates all these extra people and friction in the middle. For anything moderately significant that goes wrong with a property, PMCs generally must contact the investor for permission to get work done. It’s all a massive hassle and loses time in maintenance requests that leave residents frustrated. What if there was a product that costs, say, $150 to $200 a month but it actually covered everything? Instead of having sudden expenses and emergencies, this maintenance plan smooths out the experience and makes it more predictable for the investor. For PMs, it means taking the initiative on fixes without waiting for approval. Imagine a world where you didn’t have to get owner approvals for 95% of maintenance issues – because they’re already budgeted for and already paid for. For residents, it means better maintenance, and faster. Another Triple Win! Asset performance reports Another piece focuses on property managers as asset managers. Think about any investment app, like Robinhood, Acorns, etc. You can log in to these apps any time, 24/7, and see how your stock and investments are performing. In most investment classes, you can see in real time how your assets are performing. Why shouldn’t property investors have that as well? An IBP™️ can include exactly that: a dashboard or online portal that shows investors regular reports on how their property is doing. They could get updates on the value of their home over time, the home price appreciation, rent price over time, and project rent growth, typically maintenance costs and how they’re doing against that, and more. Resident Benefits Package Another piece to include in your IBP™️ is to highlight the benefits of your resident benefits package to your investors. Explain how features like a filter delivery program protect their assets and reduce HVAC repair costs. Show how a renters insurance program can ensure coverage and protection. Give numbers on how credit reporting incentivizes on-time rental payments and helps ensure financially stable renters. Explain how a movie-in concierge saves both time, headache, and money. Each of the pillars of an RBP is critical to encouraging better resident behavior, increasing renter retention and lease renewal rates, reducing vacancies, and more – all primary goals for a property investor. A note about Rent Advance Programs There’s been due buzz about “Rent Advance” offerings, though many advise caution when approaching this financial product. It works in some ways like cash advance programs, which can satisfy urgent needs, but not be more valuable for anyone long term. The way it works is PMs offer to send a year of rent upfront to the investor in a big chunk, and collect monthly from the resident. The investor typically pays a 5-10% premium on the advance, which can be their entire expected return. So the question becomes, where do they put that cash to get a better return instead? Another thing to think about is who would actually use this product. Investors who don’t have enough cash on hand? How does that benefit anyone in the long run? What happens when there’s a big maintenance bill later? Does this encourage better decisions and practices by the investor? To date, there’s been pretty low adoption of this program, which is another sign it may not be hugely beneficial to everyone involved. But plenty of innovations start that way, evolve, and find traction. One case where it might be a value generator is if an investor is looking to take a cash advance and put it toward a down payment for another house. That would benefit the property manager as well, promising more business, and the PM could offer a lower rate for getting more properties to make the financing more attractive than hard money loans or other alternatives. The jury is still out here, it’s an interesting one to track. How Can Investors and Property Managers Benefit From an Investor Experience Platform™️? Investors and property managers can benefit from an Investor Experience Platform™️ in several ways. They’re also great for residents in the sense they build more stability and quality into the renting process. Here are just some of the benefits of an IBP™️. Enhanced investor attraction An Investor Experience Platform™️ provides incentives and advantages that can attract more investors. Financial guarantees and protections against the risks associated with evictions or late payments can increase stability, while services like a maintenance plan can ensure premium care of their property assets without increasing their workload. By offering attractive perks, property managers can differentiate their offerings and generate greater investor interest. Increased investor retention Both IBP™️s and RBPs help build loyalty with residents and investors. By fostering a strong relationship and demonstrating ongoing value, property managers can build trust and loyalty among investors, and retain them over the long term. IBP™️s help establish the stability, transparency, and asset growth for a real estate investment that an investor hopes to achieve. Improved property performance An Investor Experience Platform™️ can also contribute to improved property performance. For example, by offering discounted property management fees or access to professional services at reduced rates, property managers can help investors optimize their returns and reduce costs. Additionally, incentives such as rent guarantees or eviction protection can mitigate risk for investors and attract more capital to the property. Streamlined communication and transparency A well-designed Investor Experience Platform™️ facilitates effective communication and promotes transparency between property managers and investors. This can involve regular reporting on financial performance, property updates, and the sharing of relevant market insights. Transparent and consistent communication builds trust and confidence among investors, fostering a positive and long-lasting relationship. Competitive advantage A comprehensive Investor Experience Platform™️ can give property managers a competitive edge in the market. When investors have access to exclusive benefits and advantages, they are more likely to choose a property managed by a company that offers a compelling package – and to recommend it to others. Say hello to increased investment inflow and a stronger market position for your PMC. Should You Make an Investor Experience Platform™️ Mandatory? The first thing most property managers ask us when we’re talking about an RBP or an IBP™️ is: Should I make this mandatory for all investors or do I make it a flexible opt-in/opt-out program? Unlike RBPs, where best practices are more proven and established, different PMs are taking different approaches with their IBP™️s. Some have a mandatory level of service set at a flat price. Others may say they’re fine offering a base level of service without these differentiated products, giving investors the choice to simply pay a baseline management fee and opt out of the IBP™️ premium service. Some may offer a baseline to all investors and then give them the chance to opt in for premium IBP™️ services. There are a lot of ways to do it. With the RBP, we’ve found that making it mandatory does not generate nearly as much pushback as people expect – and can be a strong value add overall. Final Thoughts About an Investor Experience Platform™️ The Investor Experience Platform™️ is an innovative way to generate ancillary income and create more value for investors and residents. Similar to Second Nature’s premier Resident Benefits Package, the IBP™️ can deliver high-quality service for investor experience – and help create a triple win for investors, residents, and property management companies. The IBP™️ reinforces the value of a professional property management company for investors and helps differentiate you from the crowd. Stay tuned to learn more about the latest in the IBP™️ space, or learn more about how a resident benefits package can launch a whole new level of value for your PMC.

Calendar icon July 17, 2024

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