A couple of years back, adding green updates to the rental property was thought to be a luxury rather than a need. However, in current times the rental pool is hugely dominated by Millennial and Gen Z renters. These two generations are big on Eco-friendly homes; hence what was thought a luxury has now become a necessity. These Eco-friendly installments save you a ton of money on utility bills and create a trustworthy reputation.
If you are looking for Millennials to have a long term contract with you, you will need to upgrade your property as a green one. Every landlord, as well as property manager, who is looking to accelerate his career in real estate, should make an effort to incorporate green features in their rental properties. Here are some installations that you can add to your home to make it more Eco-friendly.
Eco-Friendly Insulation:
Why is the improved insulation needed? Poor and inadequate insulation let’s heat escape and cold creep in; this increases the energy bills and also makes the home environment uncomfortable. Eco-friendly insulation keeps the home environment comfortable as well as decreases the expense of utility bills.
These lower energy bills are not only significant for the landlord but also for the tenant, which is why the new age tenants are so keen on Eco-friendly properties. Weather-stripping is also a good way that is an easy, quick and affordable way of insulating your rental property.
Lighting And Appliances:
Another easy way to make your home an Eco-friendly one is to install energy-saving appliances and lighting. This is one of the highly-desired features of many tenants. Having smart appliances saves on energy bills and also makes your rental property a smart one and more desirable to potential tenants. You can save as much as $400 every year on utility costs.
Replace your conventional lighting with the new age LED lights and save a considerable amount on energy bills. Did you know that you can save as much as $500 on energy bills if you switch to smart LED lighting? These LED bulbs save energy and last longer than average lights. This means that you save on the replacement cost of lights as well. With LED lights, your tenants can avoid the hassle of changing light bulbs every so often.
Solar Power Installation:
If you are one of those landlords who are keen on the idea of sustainable energy, you can install a home solar system. Areas that get ample sunlight are great for installing solar panels. Countries like Malaysia are using solar panels to save on energy costs and lessen their carbon footprint.
Water Efficiency Installments:
Many people don’t know, but water consumption also comes under-saving the planet and going green. Water consumption is a huge part of being Eco-friendly. Landlords can do a lot to increase their water efficiency. The first thing you need to do is repair all leaks, as these small leaks waste a lot of water every day. Apart from that, you can also install water-saving showers, taps and toilets. Also, as landlords, you are in the position to tell your tenants that they have to alert you in case of even a minor leak. This will save water as well as major repairs.
Recycling:
Excess packaging and usage of plastic are two massive issues the world is facing at the moment. The Millennials, as well as Gen Z, are well aware of the issues that the world is facing. The new generation has realized that to go green, we need to change our ways, and recycling is one of the biggest steps towards this change. As a landlord, you can encourage recycling by offering to collect the material for recycling and educate the tenants about the importance of recycling.
Apart from that, you can also help the tenants know the difference between what to recycle and how to recycle. By doing this, landlords will be able to encourage the tenants to follow suit, and they will also be able to contribute towards global conservation efforts.
Property Inspections:
As a landlord, you have the full right to perform regular inspections. These inspections will also help you stay environmentally friendly. Stay vigilant during these inspections, check for anything that might be harming the earth, adding to your utility bills and amend it right away. Here is a list of things that you should look out for.
Encourage the usage of the multi-socket extension. This will lead to energy saving, and these can also be turned off when they aren’t being used.
Have an educational meeting to let the tenants know that putting TV, computers, as well as other appliances on standby, adds to the energy waste. It also increases the carbon footprint. Never put appliances on standby, but unplug them to save on energy bills.
Dual Flush Converters:
What most landlords, as well as tenants, don’t know is that how much water is lost with every flush. There are two ways to combat this, one is to buy an Eco-friendly toilet, and the other is to buy a dual flush converter kit for your existing toilet. Flushing is a daily habit that takes a huge toll on the earth. If every landlord takes responsibility to use Eco-friendly alternates for these daily exercises, we can save a lot of water for our future generations.
Programmable Thermostat:
A programmable thermostat lets you save energy and reduce your energy bill. These thermostats are cheap to buy, so; they will not feel like a brand new expense. Apart from that, these thermostats don’t look bad at all, and you can easily hide or conceal them around the house. These programmable thermostats are responsible for adjusting the temperature of your house and also switching off the radiator off when you are not around and turning it on when you come home.
Conclusion:
Adding Eco-friendly additions to your home not only makes you a responsible landlord but also makes your property a popular one among the recent generation.
If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty.
As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
