In today's competitive rental market, you must think creatively to carve out a competitive advantage for your rental properties. That doesn't mean you need to start loading your properties with amenities. Recent market research shows consumers are willing to pay up to 9.7% more for sustainable products, which is easily translatable to property management.
Sustainable property management is one of the best ways to draw in prospective tenants and keep them there. Don't stress if you don't know where to get started. Read on for an introduction to green property management strategies!
Water Conservation Tips
Did you know that if you want to have one of the top New Hampshire eco-friendly buildings, then you need to work to reduce your water usage? Water scarcity is a concern throughout the world, but there are ways you can minimize your impact:
- Update old toilets to new, reduced to 1.28 gallons per flush model
- Swap out old showerheads for low-flow models
- Install dishwashers, they only use three gallons of water per load
- Invest in native and low-water landscaping
As a bonus, if you choose to sell your property later down the line, you can use this as a solid way to boost the asking price of your property.
Go Solar
Solar power is the way of the future! Adding solar panels to your rental properties not only makes them more attractive to eco-minded renters, but they'll yield tons of energy savings in the future!
Savvy property owners can save money on their solar panel purchases through the use of New Hampshire-based incentives. The New Hampshire Department of Energy currently offers rebates of up to 30% of the total facility cost for residents who install solar or wind power.
Embrace Recycling
Does your property just have the standard trash pickup? Then you're leaving cash on the table when it comes to finding top-dollar renters!
One of the best sustainable property management practices is to have recycling available on-site. For example, you can have a large bin for recycling boxes and another bin for smaller recyclables like glass and plastic. Adding this information to advertising is an incredibly effective marketing strategy.
Maximize Your Energy Efficiency
As a property owner, you can save a ton of money by investing in energy-efficient appliances and parts throughout your property. Even something as simple as a lightbulb in a common area can net you some savings. Consider the following upgrades:
- Swap to LED lightbulbs in all common areas
- Install bamboo flooring throughout your property
- Implement smart thermostats in common areas
- Inspect and upgrade insulation and weatherproofing to lower energy bills
- Add electric vehicle charging stations
Want to Learn More About Sustainable Property Management?
You know that your property is a great place to live. Engaging in sustainable property management practices only sweetens the deal when it comes to finding great tenants. Not only will you be investing in our planet's future, but you'll also generate a ton of interest from renters willing to pay a premium for sustainable living spaces!
Do you need help navigating New Hampshire's competitive rental market? PMI Granite State has unmatched local expertise backed by nationwide resources. Contact us today to learn how we can help elevate your rental!
