Sustainable upgrades renters love
With the cost of living at an all-time high, it’s no surprise that sustainability is a rental property attribute, and that’s a trend which is not going anywhere, anytime soon.
In fact, adding sustainable features and eco-friendly fixtures to your rental is fast becoming a smart investment choice.
But it doesn’t have to break the bank. You can implement small cost-effective sustainable ideas that create a huge impact.
Why sustainability matters in rentals
Sustainability has long been something that property buyers rank high on their wishlists, but it’s not just owners seeking environmentally friendly, economical homes.
Rising costs and greater eco awareness have resulted in increased renter demand for energy efficient and sustainable properties.
If you’re an investment owner willing to embrace this trend, benefits include lower vacancy rates, higher renter satisfaction, increased property value, and also long-term ROI.
Meanwhile, there’s the added bonus of complying with emerging energy-efficiency standards.
Low-cost sustainability upgrades
Introducing sustainability to a rental property doesn’t have to break the bank. In fact, there are numerous ways to implement eco-friendly features in a cost-effective fashion.
Low-cost, easy to implement options include:
- LED lighting – low upfront cost, long-term savings for the renter.
- Water-efficient taps and showerheads – cuts utility bills.
- Ceiling insulation and door seals – improves comfort year-round while reducing heating and cooling costs.
- Smart thermostats and energy monitors – add modern appeal and help the renter stay on top of their energy costs.
- Native landscaping – low-maintenance, drought-tolerant outdoor appeal.
- Window coverings and shading – a natural way to reduce heat gain and heat loss at a property.
Big ticket items with an even bigger impact
And then there are the big ticket sustainability investments that can be a real drawcard for a property. These include features like solar panels, which can slash the resident’s electricity costs, rainwater tanks, solar batteries, and automation.
While these items might be a larger investment they also potentially attract rebates, and can be a key differentiator when it comes to attracting high quality renters.
Marketing the sustainable advantage
Make no mistake, eco credentials can be a real advantage for a rental property, attracting high quality renters who are willing to stay longer and pay more for a property.
If your property does have sustainable features or eco-friendly elements, be sure to make your property manager aware and highlight these features including any cost savings in the property description.
Energy efficiency is a key point of difference for a property, particularly in a competitive market, and often appeals to both the renter’s hip pocket and their personal values.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
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