To lease, or not to lease? A critical evaluation of Product-Service-System building components in rental housing

How Product-Service-System building components offer value to organizations specializing in the development and management of rental housing.

Master thesis (2021)

Authors

D.F. Parker Architecture and the Built Environment

Contributors

T.E. Jylhä Real Estate Management - Architecture and the Built Environment (mentor)
G.A. van Bortel Housing Management - Architecture and the Built Environment (mentor)
D.F.J. Schraven Integral Design & Management - CEG (graduation committee member)
Faculty
Architecture and the Built Environment, Architecture and the Built Environment
Copyright: © 2021 David Parker
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Published Date

12-07-2021

Language

English

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Faculty

Architecture and the Built Environment

Abstract

This research explores the value offered by Product-Service-Systems (PSSs), also known as Product-as-a-Service (PaaS), to organizations that develop, own and operate rental housing portfolios. The Dutch national government’s ambition for a circular economy by 2050, combined with the demand for over 1 million sustainable new homes in the coming decades, provides grounds for increased PSS implementation in the housing sector. PSSs are touted as a critical tool to decouple environmentally harmful resource extraction from continued economic growth. However, for them to be implemented at scale, they must demonstrate clear value to decision makers who consider procuring them. As such, the value of PSSs in rental housing is theoretically explored and empirically studied through case studies to understand what drives housing providers to use PSSs within their developments and portfolios. The research reveals additional advantages perceived by housing providers, how housing providers analyze the use of a PSS, what challenges they encounter, and a preliminary review of how circular the studied cases inherently are. Five expert interviews are used to corroborate the findings from the case studies. Lastly, a financial simulation is conducted to understand the tax implications of using leased PSSs with zero-upfront investment.