The Landlord’s Guide to Eco-Friendly Property Management

Management

“Going green” is no longer just a social or political trend. Eco-consciousness is necessary to limit harm to our environment and communities.

It’s no different for real estate businesses. If you want your community to remain sustainable in the years to come, it’s important to keep environmentally friendly policies in mind when managing your rental business.

Eco-friendly management is also valued by many renters of all ages—especially younger renters. Millennial and Gen Z renters have grown up with climate crises and understand the importance of caring for the environment. For many renters, green initiatives are an attractive or obligatory feature of a rental business.

Here are a few ways to prioritize eco-friendly property management in your rental business.

Energy-Efficient Appliances

Appliances are a great opportunity to care for the environment. Washers, driers, dishwashers, and other appliances which use a lot of energy can contribute to your business’s carbon footprint.

If your in-unit appliances aren’t energy efficient, consider investing in new hardware. For instance, many eco-friendly washing machines are designed to detect the weight of the laundry load and only use as much water as necessary. Not only can your tenants avoid using gallons of water for small loads, but they’ll also save on water and utility bills each month.

Eco-friendly appliances are an investment, but they are worth the time, money, and energy they conserve. 

Recycling

Speaking of conservation, recycling is the easiest way to reduce waste in your rental business. While recycling is relatively widespread in individual homes, universities, and companies, many businesses still don’t provide accessible places to recycle plastic, glass, and other materials.

Offering recycling in your rental business is a great way to engage your tenants in sustainable, eco-friendly habits. 

Consider creating a dedicated area for recyclables, with clear instructions on what can be recycled and how it should be prepared. If your units don’t allow for this kind of shared space, add an informational pamphlet to your welcome packets encouraging tenants to recycle at local recycling centers.

Insulation

Do your units have high-quality insulation? If not, your tenants might be paying exorbitant heating or air conditioning fees.

Poor insulation in cold climates or during the wintertime means tenants will rack up their heating bills just to keep warm. Likewise, summer heat creates the opposite problem. 

Insulating doors and windows can prevent the need to crank up the thermostat in either direction. Proper insulation also comes with the bonus of protecting your rentals against adverse weather conditions, like flooding or frost. 

Your tenants can save on heat and AC costs, you can save on renovations, and less energy use means the environment ultimately wins too.

Online Rent Collection

Online rent collection is another way to save energy and resources. 

If your tenants pay by cash or check, everyone must make monthly trips to the bank to make deposits or withdrawals. These trips can add up, wasting gas and time.

Traditional rent collection also means creating and printing rent receipts by hand. Paper receipts are slow and wasteful, and composing email receipts can eat up the same amount of time.

Instead, use a digital payment portal to collect rent. Property management software platforms include online rent collection as a basic feature of the software. Your software will also automatically generate and send rent receipts. You can save on resources, limit strains on your budget, and do good for the environment all at once. 

Paperless Management

Property management software platforms offer more than online rent collection—they also facilitate your entire digital rental management. 

This means property management software platforms are entirely paperless.

Think of all the paper you waste on rental applications, long leases, recipts, invoices, and other documents. Digital documents are more accessible and convenient in addition to less wasteful. There are virtually no downsides to paperless management. Why not give it a try and do your part for the environment as well?

Eco-Friendly Renting: Ready for the Future

Sustainable practices are only just gaining momentum. Sustainable agriculture, business practices, and homes will become the norm as scientists and engineers develop new and better ways to care for our planet. Employing these practices in your rental business now will only help you prepare you for what’s coming. Secure the future of your business and the environment with eco-friendly property management.

Also Read: Why Try ECO Friendly Packaging Trends For Retail Boxes.

By Flavia Calina

Leave a Reply

Your email address will not be published.