As the world moves towards prioritizing a more sustainable future, the real estate industry is picking up the trend. This is partially in service to creating a better and more environmentally healthy planet, but it’s also turning out to be good business.
Real estate investors in Arlington have a great opportunity to not only contribute to a clean environment but also improve their rental properties and attract tenants who are concerned with the carbon footprint they’re leaving behind.
Upgrading your property to an eco-friendly standard can result in lower operating costs, higher rents, and provide a competitive advantage. The extent to which you make renovations will be up to you. We know some property owners who are installing solar panels and others who feel good just by switching to LED light bulbs.
As you position your rental property for a new and more sustainable world, we have some recommendations for eco-friendly upgrades that you can implement in your
Arlington rental properties.
Here are some excellent starting points.
Installing Energy-Efficient Windows
Replacing windows is one of the most effective ways to upgrade your rental property’s energy efficiency. In Arlington, we get some pretty cold winters and some very humid summers. Keeping the air in your rental property insulated depending on the season will not only save money on energy bills, but also contribute to a more comfortable living environment for your residents.
Energy-efficient windows will reduce heating and cooling costs, improve the home’s durability, and contribute to tenant satisfaction. Consider investing in double pane or triple pane windows that contain low-e glass. These types of windows will keep the home cooler in the summer and warmer in the winter while minimizing UV rays that can damage furniture and carpets.
There’s more good news about these upgraded windows: your HVAC system won’t have to work as hard. Since your heating and cooling set-up is probably one of your most expensive home functions, keeping that in good shape will benefit you financially in the long term.
Convert to LED Lighting Inside and Outside
Let there be light, and by light we mean bulbs that require less energy to emit light.
Enter the LED solution. Switching all the lights in your rental property to LED (light-emitting diode) bulbs is an eco-friendly and cost-effective upgrade. LED lights use at least 75% less energy and up to 90 percent less energy than other types of lights. They also last 25 times longer than traditional incandescent bulbs.
Upgrading to LED lights will reduce your energy consumption and lower your energy bill. You can also install smart lighting systems that can be controlled remotely, which can reduce energy waste.
Consider switching out incandescent and other types of lights for LED bulbs. This may work in the kitchen, bathrooms, and on any exterior lighting.
Low-Flow Toilets and Fixtures
Installing low-flow toilets in your rental property can save up to 16,000 gallons of water per year. Low-flow toilets use two-thirds less water per flush than traditional toilets. They are also designed to reduce clogs and backups, which can minimize maintenance costs. Additionally, government rebates may be available to offset the cost of purchasing new low-flow toilets.
Tenants will appreciate that you’re being mindful of water usage, not only because they won’t have utility bills that are sky-high, but also because the performance of low-flow toilets is actually pretty impressive. Gravity-assisted toilets (the older and more traditional model you might have installed right now) use the weight of a full tank of water to shove waste down the pipes and through the plumbing. Low-flow toilets create the same force using pressurized air in the tank instead of a full water supply. The pressurized air propels the smaller amount of water and the waste through your plumbing. Toilets are still flushing the way they always have, but with the help of air instead of all that water.
There’s no need to stop at your toilets.
- Low-flow showerheads, for example, can be a great way to conserve water and create a greener rental home.
- There are also different types of hot water tanks that can be more efficient than what you might currently own. Water heaters can be huge energy vampires, contributing to up to 20 percent of a home’s energy bills.
Tankless water heaters can be an environmentally friendly option if you’re looking for ways to save money and energy. This will help you attract tenants and charge more rent, too. It doesn’t have to be tankless, however (they can be expensive). You can also look for a high-efficiency water storage tank that is ENERGY STAR certified, and you will still save quite a bit of money on energy bills (or your tenants will), and you’ll also be doing a good deed for the environment.
ENERGY STAR-certified tank water heaters use about 10% less energy than traditional water heaters, and when you think about how people are home more, with remote jobs, you can see how quickly those savings will add up. This is a
good investment for rental property investors in Arlington to make.
Landscaping and Irrigation that Makes Sense
Invest in landscaping systems and irrigation technology that won’t waste water.
Arlington rental property owners can work with eco-friendly landscaping to improve the curb appeal of a rental property without waste. This can include:
- Planting native plants
- Installing rain gardens
- Using permeable paving
These upgrades not only provide a beautiful outdoor space but can also help reduce water consumption and runoff.
SMART Thermostats
Smart home technology is gaining in popularity, and accessing intuitive, integrated tech into rental homes is a huge priority for residents looking for a new home in Arlington. One good way to offer technology and environmental sustainability is with a programmable thermostat. These can help you manage your tenant's energy usage and costs.
Smart thermostats are designed to automatically adjust the temperature of the home when tenants are not at home or asleep, reducing energy waste. They can also be controlled remotely via a smartphone or tablet, giving tenants control over their energy usage and costs. In the long term, programmable thermostats can save hundreds of dollars a year on heating and cooling costs. This is good news for your tenants, when they’re responsible for the energy bills, but it also works for you, too. You’ll be responsible for heating and cooling your property during turnover periods, and this will
save you money during those instances.
Arlington Rental Home Appliances
Replacing old appliances with energy-efficient models can also add value to a property and make your rental home far more attractive to prospective and current tenants. Reliable, attractive appliances are essential when you’re marketing your home and trying to keep your vacancy and turnover rates low. Tenants want appliances that look good and work well. When they’re likely to use less energy, you’re in an even stronger position.
Kitchen appliances are especially important; if it’s close to time to replace those aging refrigerators and stoves, you’re well-positioned to look for efficient, modern models. In-unit laundry is also essential to modern tenants, so don’t forget your efficient washers and dryers. Stackable models are small and can save space as well as energy.
We know that ENERGY STAR-rated appliances use less energy than older models, so you’ll want to look for those brands that can help you and your tenants save money on energy bills. According to the Department of Energy, replacing a refrigerator that is over 10 years old with a new ENERGY STAR-rated one can save you an average of $270 over 5 years on electric bills alone. This type of upgrade can also appeal to environmentally conscious renters who care about the amount of energy they’re using.
Thinking about Solar Panels
