Did you know 40% of the United States’ total annual energy consumption is swallowed up by residential and commercial sectors?
That’s a lot of energy.
In addition, it is suggested that Americans leave an average carbon footprint of nearly 5 times the worldwide average.
Measuring in at 50 tons of total greenhouse emissions per United States household each year, this is not something to be proud of.
Now, imagine how much greener and cleaner our environment would be if everyone combined their efforts to make their homes more eco-friendly.
In fact, if everyone took part in conserving the environment, the country as a whole would see a healthier planet, healthier citizens, and healthier plants and animals.
If you own rental property in the bustling area of Howard County, where income is high, students are excelling, and unemployment rates are low, you should consider making your rental more eco-friendly.
There are several reasons why all property owners should aim to make their investment properties more eco-friendly.
And today, we are going to explain those reasons in hopes of inspiring you to take part in conserving our planet’s natural resources.
Why Making Your Howard County Rental Property Eco-Friendly Is A Great Move
1. Your Rental Property’s Value Will Increase
People are more aware than ever of how their behaviors and lifestyles are affecting the Earth as a whole.
This applies to your Howard County tenants as well.
Leasing a green rental property is enticing to many of your prospective tenants – they want to know they are doing their part when it comes to being eco-friendly.
Plus, they want to enjoy the benefits that a green rental offers them, such as healthier air to breathe, and lower utility bills.
Even if you only splurge on small eco-friendly upgrades to your home, – such as installing window treatments or upgrading your appliances to energy efficient models – your property becomes more appealing to those seeking an environmentally friendly rental.
With a tenant pool full of people wanting an energy efficient home, you will be able to command the highest rent rate possible, and reap the benefits in the form of additional rental income.
2. It’s Cost Efficient
The United States Green Building Council estimates that by increasing our eco-friendly building efforts, the United States can achieve upwards of $1.2 billion dollars in energy savings between the years 2015 and 2018.
You would be wise to think that those savings will trickle down to your Howard County tenants at one point or another if your investment property is part of this green effort.
In fact, more money in your tenant’s pocket means on-time rent payments, more money to spend on higher rent rates, and of course, more money to be spent on shopping, dining, and entertainment in the area your rental property is located.
All of this is helpful in keeping your tenants in your property for the long haul.
3. It Helps the Job Market
Although not directly related to your profits as a Howard County property owner, green construction can have the same trickle-down effect mentioned above.
Spurring nearly 1 million jobs in the United States by 2018, green construction is expected to directly influence the nation’s unemployment rate and economy.
And, as a property owner, you know that if the prospective tenants in your area have high-paying, stable jobs, they will have more money to spend on a rental home such as yours.
In addition, by investing in larger scale projects such as installing solar panels on your rental property’s roof, not only are you taking part in the eco-friendly movement with your own property, you are employing people that might otherwise not have had stable jobs before the green movement.
4. Your Tenants Will Breathe Easier
Eco-friendly rental homes offer your tenants better indoor air quality than any non-environmentally friendly, new or pre-owned home will because of the materials used to build them.
This makes being inside physically better for your tenants and their families, which is something any tenant can appreciate.
If your rental was not built to be eco-friendly, that’s okay.
One of the best ways to ensure healthy air for your tenants is to use paints and cleaners that are low in volatile organic compounds (VOCs).
This reduces your tenant’s exposure to carcinogens such as formaldehyde.
5. Your Green Rental Will Last Longer
Sometimes recycled materials, even those used in the construction of your rental property, are more durable than traditional construction materials, giving your rental property the chance to last longer than ever.
For example, using recycled steel over wood planks, concrete as a form of home insulation, and dark colored roofing materials made out of recycled products, all help to make your property last longer, keep utility bills lower, and offer better health conditions for those residing in the actual property.
In the end, by using recycled (and oftentimes, more durable) materials on your rental property, you will spend less time and money maintaining your property, which means more money in your pocket.
6. You Will Lessen Your Impact on the Surrounding Area
Having an eco-friendly rental property does more for the environment than just help your tenants save on their energy bills and breathe easier.
Green building has less of an overall impact on the surrounding environment – that is the goal behind the entire movement of “going green.”
For example, construction companies will only take down foliage that is directly in the way of the project they are working on.
By keeping your backyard landscaping as natural as possible, even if you are simply re-doing the yard, adding a deck or pool, or are increasing the square footage of your rental property by adding an extra room, you can do your part by preserving the surrounding area.
In addition, by leaving the surrounding foliage, you allow this natural habitat to work for you.
Extra trees and bushes surrounding your home better insulate the property from the harsh weather conditions that affect your tenants during both the summer and winter.
If you live in the Howard County area, and own a rental property that is currently eco-friendly, contact Bay Management Group today to help place equally environmentally friendly tenants in your investment property.
With aggressive advertisement of your vacant property to the tenant pool that seeks an eco-friendly rental home, we can make sure to get the highest quality tenant in your rental property.
Our thorough screening process ensures placement of tenants that appreciate your efforts to help save the environment and reduce your carbon footprint, as well as their own.
In addition, your eco-friendly rental will bring in high rent rates, and will be carefully monitored by an experienced Bay Management Group property manager to make sure your tenants are caring for your eco-friendly property as they should.