Transitioning an apartment property to become smoke-free can be profitable. Just look at the numbers. Property managers who implement no-smoking policies reduce their hard costs, bring in more residents and create better communities.
- Attract more tenants.
- According to a 2016 survey of Arizona renters, seven in 10 renters would choose to live in a smoke-free apartment community over one where management allows smoking.
- Three-quarters of Arizona renters agree it is OK for management to prohibit in-home/unit smoking. In fact, over 40% of renters would even be willing to pay a little more to live in a smoke-free community.
- Save money by reducing the need for repairs.
- Smoke causes serious property damage. Manistee Manor, an apartment community in Glendale, AZ, found that it costs 10 times more to repair a smoked-in unit rented for 9.75 years.
- According to a 2011 UCLA study, after implementing smoke-free policies, owners of California multi-family rental buildings could save up to $18 million a year on the cost of cleaning apartments vacated by tenants who smoke. The average smoking-related cost per multi-family property was nearly $5,000, and the median cost was $2,000, over the past year.2
- Eliminate a preventable cause of residential fire. Every year, fires caused by cigarettes result in hundreds of millions in damages, and cause death and injury. Smoking-material fires caused $621 million in property damage, 540 deaths, and 1640 injuries in 2011.3
- Potentially reduce your insurance premiums. Some insurance companies may offer property owners and residents discounts on general liability insurance premiums if they implement a no-smoking rule. No-smoking rules reduce the risk of fires, injury and death. Ask your Insurance broker.
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Over 40% of renters would be willing to pay more to live in a smoke-free community.