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Environmentally-friendly rental properties stand out from the crowd and ensure you attract quality tenants.
There’s no doubt about it, eco-friendly properties are the way of the future and one of the most attractive aspects of a home for potential tenants. Upgrades are a win-win for everyone, including the environment, as your tenants will save money on energy bills and you’ll increase the value and appeal of your investment property.
Here are five easy upgrades to get you started.
There are plenty of ways to reduce lighting costs in your investment property. First up, switch to LEDs, from halogen and incandescent light bulbs. They last much longer and use approximately 75% less energy. For outdoor entertaining areas, provide solar or battery-operated garden lights, and sensors for entranceway lighting. Lastly, check that your property makes the best use of sunlight, with appropriate window coverings, transparent panels or skylights.
Leaky taps and showerheads result in an enormous amount of wasted water. Take a quick trip to a hardware store and you’ll find a wide range of water-efficient appliances to keep that water bill down. Look for water-saving showerheads, low-flow taps and timers. Consider replacing a single-flush toilet with a dual flush and choosing washing machines and dishwashers with 6-star water consumption ratings.
It’s likely you’ve got air conditioners installed in your investment property, but reducing the need to use them is a smart move for energy bills and the environment. Get a professional to check the insulation throughout, especially if it’s an older home. A well-insulated house keeps warm and cold air in or out, depending on the season, and can cut cooling and heating bills in half.
Leaky taps and showerheads result in an enormous amount of wasted water.
Lovely gardens or backyards do wonders for attracting tenants, but can be a nightmare if they’re high maintenance and require excess water usage. Consider paved entertaining areas and walkways, instead of grass, to reduce the need for mowing and watering. Local plants that grow in your area are the best choice, as they’re already perfectly suited to the environment and need little more than nature to thrive.
While it’s an outlay to begin with, installing solar panels on the roof can save hundreds of dollars each year. This means lower electricity bills for tenants and the possibility of higher rental income for you, as solar power is a sought after feature. That’s all without mentioning a large reduction in your carbon footprint.
Once you’ve made your upgrades, don’t forget to advertise the fact, to let potential tenants know that your investment property is an environmentally-friendly, sustainable choice for them.
5 easy upgrades for a sustainable investment property:
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