Wondering if having an eco-friendly rental is the way forward? We explain why you should consider having an environmentally friendly rental and how you can easily achieve one.
Eco-friendly and rental are not words often put together, but in today’s rental market, an eco-friendly rental is hot property! It’s not only home owners desiring a property which is environmentally friendly: tenants are too! But as such, an eco-friendly rental is only just being a positive move by landlords.
In today’s article, we’re discussing the reasons why you should look at making your rental environmentally friendly, plus sharing easy ways in which you can.
Why You Need an Eco-Friendly Rental
As a landlord, you have the decision as to whether you invest in environmentally friendly solutions for your rental or not. In today’s world, there is a greater awareness on the impact we’re having on the environment. Tenants often want their home to meet their vision of reducing their environmental impact, such as with low energy appliances and water saving shower heads.
When it comes to landlords though, they can be a cross purposes. For instance, it’s not uncommon for rentals to have old lightbulbs, wiring, asbestos and olden shower heads and toilets. After all, if the appliance or feature still works, it can be uneconomic to replace or modernise it.
However, it very much looks like tenants will be expecting eco-friendly rentals to be the norm in the future. While this can come at a cost to landlords, the benefits of doing so can include:
- Point of difference to promote
- Higher rent, due to modernisation
- Enhance the quality of life your tenant has
- Use of materials requiring less regular maintenance
- Add value to your rental property
One final benefit is that an eco-friendly rental is likely to maintain the same tenant for longer. Smarter Homes said, “Recent research by the Energy Efficiency and Conservation Authority (EECA) showed that 88% of renters are likely to stay longer in more energy efficient properties.”
Creating an Eco-Friendly Rental Property
It’s relatively simple to create a rental property which has a reduced environmental impact by:
- Replace the shower head with a low-flow head
- Install heat pumps
- Replace old bulbs with LED ones
- Install a water saving toilet, or a dual flush converter
- Provide thermal curtains so tenants can reduce their heating costs
- Provide recycling and compost bins
- Install a water tank to catch rainwater for the garden, if you have a garden!
- Replace old appliances with energy efficient ones
- Use eco-friendly paints with low VOCs
- When purchasing a rental, choose one in a location from which the tenant can walk to public transport or close shopping centres