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6 Energy Upgrades to Attract Great Renters

Posted on November 10, 2017 by Jen Stinnett There have been 0 comments

Attracting quality renters that you can depend on to treat your property with respect and consistently pay their rent on time can be a real challenge in today’s rental market. Finding great renters is all about having upgraded energy efficient features that show renters you value them and the environment we all share. According to SmartMove, “Modern tenants, especially millennials, are interested in homes that take sustainability and energy efficiency into account.”

Modern renters are people who value personal savings as well as larger scale energy savings. Consider that the average annual energy bill for a typical single-family home comes in at $2,200, between heating and cooling costs, appliances, lighting, and electronics. Helping tenants decrease these costs can give your property a competitive edge”.

Attracting these ideal renters all comes down to featuring some great cost and energy saving upgrades in your properties.

Start with what is behind the scenes

Insulation

Upgrading the insulation in your properties is a great way to help keep heating and cooling costs down. In fact, upgrading the R value of your insulation and using a high-quality product are the most effective ways to improve the efficiency of any property. Because this upgrade is not easy for renters to spot, be sure to feature it on a brochure and on your rental property website (if you have one). This is a great way to let your potential renters know you care about the environment and you care about making their home comfortable and keeping utility and/or rental prices as affordable as possible.

Furnace and AC Units

Now that you have improved your insulation make the most of your efforts by upgrading your furnace and AC units. I know, I know… the idea of replacing these is overwhelming for you and your pocket book, but upgrading HVAC units can save 10 to 20 percent on energy bills in the first year. These savings will add up quickly, and before you know it, they will be paying for themselves. They can also help save come tax time! This is another one of the features to highlight in writing for your potential renters, as they won’t know you have made this energy efficient upgrade unless you tell them!

Smaller upgrades that really show you care

Light Bulbs

Compact fluorescents and LED light bulbs may be hard to justify at first when you compare their price to incandescent bulbs, but once you figure in their energy savings (especially if you own several properties) and the life of these bulbs (some last longer than 10 years), they soon become the logical choice. This is for sure a case of investing in the best up front and saving time and money in the long run! The Department of Energy reports that these bulbs last up to 25 times longer and use up to 80 percent less energy than traditional bulbs. You might be thinking this is another one of those upgrades that your potential renters won’t notice, but many people have become used to looking for these types of light bulbs and you might be surprised how many people notice and appreciate that you are using them!

Air Filters

Regularly replacing air filters helps to conserve energy, extends the life of your HVAC system, and improves air quality. In order to be more energy efficient, provide new filters every 90 days that you install yourself or have your renters install. This again tells your potential renters that you don’t just care about your properties, you care about being as green as possible.

Show stopper upgrades

Appliances

One of the best energy saving upgrades you can make is new appliances. This is because they not only save energy, they are also an attractive feature that quickly gets noticed by potential renters. Renters will often be willing to pay a little higher rent for units that have green appliances. Because millennials are so focused on doing their part to reduce their carbon footprint, energy efficient appliances is a great investment that will attract high quality renters.

Landscaping

The great thing about upgrading your rental properties’ landscaping is that you get the energy savings that well-planned shade trees and wind breaks can make. The Department of Energy does a great job explaining the sizable impact properly planned shade landscaping can have on energy costs. Additionally, your properties get the wow factor that attracts potential renters from the minute they drive past your properties. They will be interested before they even set foot in the door, and they will know that you are a landlord who takes pride in your rentals and cares about the environment.

Conclusion

Upgrading your properties with these energy efficient features is a sure-fire way to attract better tenants that are more likely to value and respect their units and you as a property owner. These upgrades not only add value to your properties and save you and your renters money, they also contribute to making our world a greener place.

Guest Post by Home by Hank


This post was posted in Blog and Green Library, Eco Home Improvement, Save Energy, Your Green Home and was tagged with air cleaners, appliances, ENERGY EFFICIENT, insulation, lanscaping, LED

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