Modern technology has birthed “smart windows”, allowing for desirable views without killing the electricity bill in warmer summer months. The windows can adjust their tint based on the strength of the sun, preventing any window-seat employees from feeling like a fried egg.
The good news is tenants are aware of the need to provide their employees with a taste of the outdoors while working at their desks: recent studies show that “corporate tenants are willing to pay 6.1% more in rent for offices with abundant access to natural light.”
Location is important, but landlords are starting to realize that the added value of natural light boosts the marketability of a property and improves the likelihood that tenants will stay long-term. An office property in Seattle was able to increase its rent by 16% after renovating their windows to smart windows.
Developers and Real Estate companies across the U.S. are starting to follow suit, modernizing current windows to attract tenants. A company in Ontario surveyed its employees after a move to a new office space that featured smart window technology. With more natural light, these employees “were 5 times more likely to rate their workplace as healthy, had 5 times more pride in their company, and were 3 times more excited to go to work than they were prior to the move.”