Sustainable living is today’s latest buzzword. Most consumers are looking forward to living a more sustainable life for their own sake and the environment. This made all sorts of businesses rethink their strategies so that they can better cater to eco-conscious consumers’ needs.
Even if you are in the real estate business owning and managing multiple rental properties, know that you too should consider adopting sustainable practices. The “green lease trend” continues to dominate all industries, making it a must that you also think of this strategy.
Sustainable landlording will help you attract eco-conscious tenants who are willing to pay more for your rental properties. They are already aware and dedicated to living a sustainable life, making it easy for you to maintain and preserve any investment you make. This also helps you boost the value of your business while establishing your brand as a more eco-friendly one.
To help you get started, here are a few ideas on how you can be a more sustainable landlord/landlady.
Invest in Eco-friendly Materials
One of the simplest steps you can take to make your brand environment-friendly is to ensure all of your investments have little-to-no impact on the environment. You could be trying to improve your investments by regular maintenance and through improvement projects. In whatever you will do, be sure to only use environment-friendly materials.
When keeping the property clean, it is best to stick to cleaners made from natural ingredients. The fewer chemicals you use, the better. This will help reduce your tenant’s exposure to harmful chemicals and help lower your toxic wastes.
The same goes when doing projects to improve your property’s wooden accents. Staining using rags will help you fill wood grains better in a cost-effective way. Buy these in bulk, and you can enjoy better savings in the long run.
Use sustainable materials when building and improving your property. Sustainable construction is made easier since more home builders and contractors are turning to sustainable practices. They can suggest which materials are the eco-friendlier option and will match your building needs.
Digitize Your Processes
Going paperless allows you to reduce your paper waste while still accomplishing essential business processes. You can save time spent in organizing, filing, looking for possible errors in your business documents. You can save space since you no longer need many failing cabinets to keep records required to run your brand.
You are also giving yourself a favor since you can easily send files to your tenants and sign essential documents anywhere. This helps streamline your processes. Lastly, you are reducing paper waste which contributes to deforestation and green gas emission.
Another way of digitizing your processes is by collecting rent online. This enables your tenants to pay their dues online, reducing your need to track down missing payments and issuing invoices. You will still need to provide them with certain printed documents, but your paper waste will be significantly reduced.
Go for Energy-efficient Investments
More tenants want their next rental home to have energy-efficient features. Think of energy-efficient appliances, low-flow water fixtures, smart home devices, etc. This makes it easier for them to reduce their monthly expenses, thanks to the savings these investments can give.
For starters, make sure your rentals are well-insulated. Replace old appliances with those certified with Energy-Star labels. Dispose of old appliances the right way.
Install low-flow water fixtures. These are still effective in managing tasks while reducing one’s water usage. The less water is used, the more savings and the less water is wasted each time.
Replace old light bulbs with (light-emitting diode) LEDs. These last ten times longer than incandescent lights and are four times more energy-efficient. Your tenants won’t have to worry about their lights needing replacement any time soon if you invest in an energy-efficient lighting system.
You can also consider making improvements that will help you utilize natural lighting in your rental property. Bigger windows, for instance, invites more sunlight. Aside from the additional health benefits, your tenants will also have more reasons to save energy when their rooms are already well-lit during the day.
Ceiling fans may sound old-school. But having these installed in your rental is a great way to heat and cool your interiors in an energy-efficient manner. It only costs cents to power ceiling fans each day, giving your tenants more ways to save money on their energy bills.
These are but three ways landlords and landladies can make their business a more sustainable one. You may not have a large budget to tackle all these suggestions at once. But there are cost-effective solutions you can consider enticing eco-conscious tenants and turn your rental business more environment-friendly.