Landlords are constantly finding the best ways to maintain and improve their properties. Rental property with the right amenities appeals to the most reliable renters. And the goal is to find people who are long-term renter that are qualified to pay for the apartment. Discover the benefits of offering energy efficient apartments in Denver and how to make your rentals green.
Consider the Cost of Utilities
Some landlords pay a portion of the utilities or the entire bill then add those costs into the monthly rental payment. If you cover utilities, it makes sense to ensure each unit is energy-efficient. Wasted energy means you will pay higher utility bills and reduce your monthly profits. And if renters pay their utilities, they often inquire about the average cost of monthly bills. If those bills exceed their limit, qualified renters may look for another place. Lowering the utility bills attracts smart renters who want to save money.
Attract Conscientious Renters
Renters who consider the cost of utilities and whether the apartment is green are conscientious. This means they are thinking about the quality of life and the cost of the bills before they move into the rental home. And these types of renters tend to be dedicated to maintaining a neat property and taking care of the premises. These are the types of renters landlords want to ensure their property is left in the best possible condition. Making energy-efficient upgrades helps attract a better rental customer.
Go Green in the Community
Reputation matters in the real estate business, especially if you are buying and renting properties. Earn the respect of the community by going green. Let everyone know your buildings and homes in Denver are energy-efficient. Support local movements to reduce energy use and protect natural resources. And renters will notice these efforts and prefer to rent one of your properties. Also, community members will refer others to you when they are in the market to rent energy-efficient homes.
Improved Property Value
Investing in real estate means knowing when to rent it and when it is time to sell it. Installing energy-efficient features is an excellent way to improve your property value. And by doing this, you can rent the apartments for a higher fee and sell the property for more money. Renters and buyers prefer properties with modern features that save energy and help lower the monthly utility bills.
Schedule an Energy Audit
The first step to going green is scheduling an energy audit of the property. If you own buildings with multiple units, schedule a commercial energy audit. And if you rent single or double family homes, request a home energy audit. Gather your utility bills for the past few months and make sure the premises are completely accessible. The auditor will determine where energy is being wasted and offer low-cost and no-cost ways to upgrade your property and improve energy efficiency. And the auditor will also offer ideas for grants and incentives that may help cover the costs of improving your property.
Simple Ways to Upgrade
There are easy ways to instantly make a rental more energy-efficient. Install LED lighting and ceiling fans. Make sure the heater and water heater operate efficiently and have repairs made when necessary. Check the sewer systems for leaks. Install low flush toilets and low flow showerheads. Get energy efficient appliance with the Energy Star logo. Encourage renters to engage in green practices. Small tips, such as having a full refrigerator to save energy, can help them lower their utility bills. And an energy audit will reveal other ways to save energy, such as installing insulation and replacing or repairing windows.
Make the effort to maintain energy-efficient rentals. Attract quality renters who care about their homes and the environment. And enjoy reduced bills for greater profits.
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