As the renter demographic in the U.S. begins to skew younger, the demand for eco-friendly living keeps rising. Rental property owners and managers takes advantage of this trend to embrace sustainable practices that can benefit the environment – and your bottom line. Diminishing the environmental impact of your rental property intrigues more than just conscientious renters. It can also reduce operating costs, raise property values, and improve sustainability.
Let’s look more closely at the crucial sustainable practices every property manager and owner should know to create environmentally friendly, more efficient properties that residents will adore.
Efficiency Upgrades to Lower Utility Costs
One of the simplest strategies to incorporate green living into your rental property is to develop your energy efficiency. A more efficient property typically leads to lower utility bills and a reduced carbon footprint. Some examples of uncomplicated energy-efficient upgrades you should take into account involve LED lighting, smart thermostats, and energy-efficient appliances.
If you want to go even further, consider achieving a home energy assessment. This will often show you other places that need work, such as leaky windows and doors or not enough insulation in walls and ceilings. No matter which upgrades you undertake, you can use these to attract your next environmentally friendly resident.
Implement Water-Saving Techniques
“Water conservation” makes some people tune out right away when they hear it. Nevertheless, for rental property managers and owners, saving water is a key part of being environmentally friendly. For example, think about installing low-flow fixtures, swapping out old or leaking ones, using water-efficient irrigation in the yard, and exploring drought-resistant landscaping options.
Landscaping is one place where most rental houses can make big conservation upgrades. Simply choosing native plants well adapted to your area, for example, can help reduce your water needs, do less work on the property, and establish a sustainable, eco-conscious property your tenants will enjoy.
Waste Reduction and Recycling Strategies
Another excellent strategy to attract environmentally friendly renters is to take an ethical and proactive attitude toward recycling and waste management. Why not look into the recycling programs in your area? You can then set up bins and share helpful information with your residents.
By making recycling and waste reduction simple for them, you can help reduce your disposal costs while bringing in renters who want to lessen their carbon footprint.
Use Sustainable Materials and Smart Practices
Ultimately, property managers and owners can participate in sustainable practices by making more careful and environmentally friendly selections when it comes to fixing or updating their rental property.
For example, whenever possible, select innovative and sustainable building and finishing materials, such as bamboo, recycled wood or steel, and low-VOC (volatile organic compound) paints. After that, you can highlight these approaches in your marketing materials and clarify how they improve indoor air quality and promote a healthy living environment. Many renters will be thankful for your forward-thinking concern for their well-being and your eco-friendly practices.
The Benefits and Challenges of Sustainability
Incorporating sustainable practices into your property management approach can have a positive impact on the environment and a healthier cash flow.
From energy-efficient upgrades and water conservation techniques to fostering recycling and using eco-friendly materials, green living tactics can improve your property’s value and appeal to recent and future residents while cutting long-term costs.
Adopting sustainable practices can be hard and take a lot of time. At Real Property Management Assurance, we’re here to help you boost the efficiency of your properties in Tigard and surrounding areas. Contact us today or call 971-270-2600 to discover how we can help you use advantageous, sustainable practices for your properties and residents.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.