Energy Efficiency Responsibilities – How the new mandatory disclosure laws affect you as a commercia

From October 2011, new mandatory disclosure laws come fully into effect. Owners of commercial buildings must disclose the energy efficiency rating to prospective buyers and tenants when that space is sold, leased or subleased.

The effects this new scheme will have on you as a commercial building owner will be varied, but mainly positive, as green offices and work space have a huge variety of benefits both to the environment and employees working in the building.

Here is a guide to how the new laws will affect you:

• Savings in the long run – Companies can expect to lower their expenditure on things like energy bills, with many large companies such as ING in Sydney utilising sustainability professionals to review things like car park energy use and other energy-saving lighting solutions. A new Local Government Amendment (Environmental Upgrade Agreements) Act will also allow financial providers to work with local councils and lend funds to building owners to carry out environmental upgrades.

• Better working conditions and employee productivity – In the United States, a study of 31 green buildings in Seattle found that absenteeism was 40 percent lower compared to non-environmentally efficient buildings. Experts are confident we’ll see similar results in Sydney as well, as green offices can also expect to see higher employee productivity, which will be good news for anyone looking to lease Sydney CBD or North Sydney office space for their business.

• More preparation – While the benefits of energy efficient commercial buildings are numerous, there will be a certain amount of preparation on the part of building owners before the laws come fully into effect. Building owners should start preparing now, as there are a number of different steps which need to be taken. For more information on obtaining an official rating for your building and how to ensure it is up to environmental standards, visit the National Australian Built Environment Rating System website.

• More interest from potential buyers and tenants – With the green trend really taking off over the past few years, consumers are snapping up everything from environmentally friendly cars, laptop accessories and office technology. Research in Sydney and around NSW is supporting the view that more sustainable buildings are able to find occupiers more quickly, especially with the changes to mandatory disclosure laws, which require office spaces over 2000m2 to advertise their energy efficiency rating to those looking to lease office space in Sydney and around Australia.

This article is brought to you by Tim Green Commercial. Find your next North Sydney office space for sale or lease at Tim Green Commercial – the experts on finding great office space in Sydney CBD and surrounds.