As the world prioritizes sustainable living and resources, such as water and electricity, landlords and property owners seek more environmentally friendly options for their renters. These “green” changes to a property can positively impact the bottom line and also help make the property more desirable. According to a recent survey in Clean Technica, 40% of renters surveyed said that green practices are a critical factor in choosing a rental property.
Given the benefits of adding green options to a property, how can you help your property and the units within become more sustainable and eco-friendly? Let’s take a look.
What Is a Green Rental Property?
Many factors go into making a rental property green or environmentally friendly. One key part of the equation is adding appliances that are water- and energy-saving. Property owners or managers may also choose to use sustainable materials to build the property or add to existing structures. Offering energy audits to renters or recycling programs can also go a long way to reducing carbon footprints and wasteful discarding of recyclable materials. 
7 Initiatives to Go Green at Your Property
If updating your rental property all at once isn’t in the cards, try some of these green initiatives a little at a time to transform your property and create cost-saving methods for your renters.
Install Energy Efficient Appliances
Consider replacing older appliances such as stoves, refrigerators, dishwashers, washing machines, and dryers with new ENERGY STAR-certified models that can reduce energy consumption and monthly utility bills.
Replace Traditional Lighting with LED Options
LED lights consume significantly less energy than traditional incandescent or even fluorescent bulbs. This means less electricity is needed to produce the same amount of light, which reduces strain on power plants and lowers greenhouse gas emissions.
Improve Insulation
Heating and cooling homes are among the largest contributors to greenhouse gas emissions. Cut back on heating and cooling bills by having a home energy audit, which can determine whether your property has adequate insulation to keep in cool air during the summer and warmth during the winter. Having insulation installed can drastically improve the air temperature during the shifts throughout the New England seasons.
Install Water Efficient Fixtures
Adding low-flow shower heads and faucets can help reduce water usage and water bills. This fairly easy switch can make an immediate difference in water wastage and costs.
Add Smart Technology
Adding a programmable thermostat to rental units can help reduce heating and cooling bills. Renters can schedule when the heat or cool air will turn on and off, thus cutting often exorbitant bills.
Promote Gardening & Recycling
If your property does not have a recycling center, now is the time to create one. Recycling can help reduce our carbon footprints and cut back on landfill amounts.
Allowing your tenants to garden in an out-of-the-way location can be great for the environment and provide healthy and fresh food for your renters.
Go Solar!
While not all property owners can add solar panels, this component of going green can nearly eliminate electric bills and make a property self-sufficient.
Need help managing or improving your property? Schedule your consultation at Thayer & Associates now.