Addtional Benefits to Going Smoke-Free
There are many benefits to having a smoke-free policy. In addtion to reducing your fire risk, saving money in turnover costs, and your increased marketability, consider these benefits:
Fewer Complaints from Residents
Removing secondhand smoke from the air in your apartment building eliminates a common cause of tension among your residents. Property managers frequently report fewer resident complaints after a policy is implemented.
'Green' Certification Credits
If you are planning to develop a new property or renovate an old one to make it more eco-friendly, many green certification programs offer point(s) for a smoke-free policy. For more information on smoke-free policies and LEED building certification visit their website.
Smoke-Free Homes are Green Homes fact sheet
Low-Income Housing Tax Credit (LIHTC) Benefits
Housing developers in every community in Minnesota can now take advantage of a Low-Income Housing Tax Credit point for adopting a smoke-free policy. In Spring 2010, both Dakota County and the Minnesota Housing Finance Agency (MHFA) both approved Qualified Allocation Plans (QAPs) that included awarding a point to development applications for new construction or rehabilitation if the project adopts a smoke-free policy. St. Paul and Minneapolis have had a point in their QAPs since 2008. Washington County included a point for a smoke-free policy in their 2012 QAP. For more information, read our handout about Low-Income Housing Tax Credits in Minnesota.
Potential Insurance Savings
Some insurance companies nationwide are encouraging smoke-free policies, and offering discounts for properties who adopt them. One example is Capitol Insurance Group. Check with your insurance provider to see how a smoke-free policy might benefit your rates.
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