All our property manager tenders require sustanabiltiy to be a signficant element in the selection and apointment of property managers. Our screening process will intially ensure capability, resources and adequate systems . As part of our property managers services we require:
- Receive update reports from external property/ asset mangers
- Regular meetings with external property /asset mangers
- Checks performed by organisation employees
- Checks performance by external consultants.
- Check external suppliers/and or service providers’ alignment with applicable professional standards
- Supplier survey
In specific terms each managing agent is required to undertake the following sustainabiltiy services as part of their managing agent agreement.
1.Support the delivery of the Adviser’s Sustainability Agenda as set out in the LGP Sustainable Property Investment Strategy as amended from time to time, aspiring to sustainability best practice, minimise environmental risks and seek to continually reduce the environmental impacts in order to enhance the environmental credentials of Properties.
2. Prepare all relevant multi-let Properties for ISO14001 to achieve accreditation by the Advisor’s consultant and load all necessary sustainability information onto the Advisor’s document handling system (currently TrackRecord).
3. Before the beginning of the calendar year, propose annual energy consumption targets for each Property consistent with the following best practice in descending order:
-Voluntary Display Energy Certficate (VolDEC), if procured for the property.
-Real Estate Environmental Benchmark (REEB), if a suitable/qualifying office property.
-2% p.a. reduction in energy consumption compounded from the later of 2010 or the date of acquisition of the property.
Agree Property targets with the Advisor, document such targets within the QSR (see (vii) below) , giving any reasons as to why best practice cannot be met if applicable and demonstrate effective management of initiatives to achieve the agreed targets.
If it transpires during a calendar year that a target becomes impossible to achieve for any reason, propose and agree a revised target with the Adviser and document within the QSR
4. Prepare, agree with the Advisor, maintain and load on to Track Record for each relevant Property an Asset Sustainability Plan (ASP) in an agreed format detailing every sustainability measure that could be applied to the Property to improve the sustainability performance over a 5 year period with budget costs, payback estimates and measures prioritised year by year to include travel plans, biodiversity plans, tenant liaison and community engagement plans, where appropriate and load onto TrackRecord.
5. Prepare, agree with the Advisor, maintain and load on to TrackRecord for each relevant Property an Annual Sustainability Action Plan (ASAP) in an agreed format detailing prioritised initiatives to improve the sustainability performance of each Property for the year in question. Such plans should be coordinated with annual fund strategy reports (where provided), planned maintenance plans and service charge budgets (where applicable) and should include provisions for the optimisation of all mechanical and electrical installations, together with capital cost proposals and payback estimates to upgrade Energy Performance Certificates (EPC’s).
6. Utilise Advisor’s preferred energy monitoring and targeting system (M&T system) to measure, monitor, verify and normalise electricity, gas, water, carbon and waste recycling data, in accordance with the Greenhouse Gas Protocol, at Property, Fund and Portfolio level providing Quarterly Sustainability Reports (QSR’s) with RAG reports in a format to be agreed showing performance against agreed targets and benchmarks with exceptions analysed. Include QSR’s within each quarterly Asset or Property Management report and load onto TrackRecord. Supply all source data on request.
Supply half hourly (HH) data exception reporting consumption profile graphs for each property with landlord or sub-metered energy and HH meter comparing consumption with an agreed target to the Property Manager and any Facilities Manager in order to optimise energy consumption and manage M&E contractors, or BMS sub-contractors. Provide on-line access to the M&T system to the Advisor on request
Supply accurate weekly reports to the Advisor as agreed with the Advisor detailing consumption across all energy and water meters across all properties to meet the Advisors corporate reporting requirements.
7. Enforce tenant’s covenants with respect to green lease clauses and enhance the perception of assets to support improved investment performance. Undertake tenant sustainability engagement on a regular basis and at least annually in accordance with Section 7 of the LGP Sustainable Property Investment Strategy March 2014, as amended from time to time and report to the Contracting Body quarterly .
8.When undertaking inspections, endeavour to take or otherwise procure tenant meter readings at least annually, except where access to tenant occupied premises cannot be obtained or is denied. Collate and supply this information in an agreed format.
9. Take sub-meter readings from tenants for multi-let offices and provide data in a format to be agreed with the Advisor.