HMC considers ESG issues when selecting and appointing third-party property managers, primarily by conducting due diligence on their ability to manage ESG issues. We also monitor their ESG performance. For example, third-party property managers are contractually obligated to provide HMC with monthly reports that address a variety of ESG issues, such as energy management, water use, health and safety, labor relations, and tenant relations. HMC reviews this information and enages with the third-party property manager as necessary to mitigate concerns.
Our third-party property managers are contractually required to comply with environmental, labor, and landlord-tenant laws. They also oversee day-to-day efforts to implement environmental improvements and manage social issues at the properties.