The push for sustainability is growing stronger, particularly in regions like Washington State, where we value our environment and are committed to preserving it. Eco-friendly housing is an especially important initiative, and it’s becoming increasingly important to tenants, who are more aware of their footprint than ever before.
As a landlord, you not only have the opportunity to contribute to environmental conservation but also potentially attract eco-conscious tenants and decrease operational costs. Sustainable property management is a win-win approach: it benefits the planet, your tenants, and your investment.
Eco-friendly practices and sustainable rental housing isn’t political. It’s practical.
To that end, we’re putting together some strategies and practices that can help you make your property and your operations more eco-friendly.
Green Rentals Are the Future
Modern tenants today are more environmentally aware. This is partly generational. It’s partly science. It’s partly consciousness.
Whatever the reasons, you want to keep up with the latest tenant trends in order to maximize what you’re earning on your investment properties and to attract and retain the best tenants in the market. So, you’ll want to be thinking environmentally, too.
We’ve found that tenants are now prioritizing rental properties that embody their values, which include eco-friendly practices. Therefore, it’s advantageous for landlords to consider the environmental impact of their property management practices and systems. By adopting sustainable practices, you offer a shot at reduced utility bills and a healthier living space, which can give you an edge in a competitive rental market in Issaquah, Bellevue, and surrounding communities throughout Washington State.
Here’s a statistic we found surprising:
Residential energy consumption accounts for almost 20 percent of U.S. energy-related greenhouse gas emissions.
That’s according to the National Academy of Sciences. There’s some additional less-than-impressive news:
According to a study done by Harvard University, rental homes tend to use more energy than owner-occupied homes.
It’s a challenge, but it’s also an opportunity to do better.
Starting Small with Simple Eco-Friendly Strategies
There’s no need to overwhelm yourself with a complete overhaul of your rental properties. You don’t have to completely renovate everything and you don’t have to invest tens of thousands of dollars. Taking some small steps towards better and more sustainable practices will actually make a difference.
Here’s our list of recommendations for a one-step-at-a-time approach.
| 1. Embrace Energy Efficiency
Upgrading to energy-efficient appliances, HVAC systems, and lighting can significantly reduce energy consumption in your properties. Consider investing in LED bulbs, Energy Star-rated appliances, and smart thermostats that allow tenants to control heating and cooling systems remotely, reducing unnecessary energy expenditure. We’ll talk more about this later in our blog. |
2. Water Conservation
Installing low-flow faucets, toilets, and showerheads can drastically reduce water waste. Implementing rainwater harvesting systems and xeriscaping (landscaping designed to reduce or eliminate the need for irrigation) can also attract tenants who value sustainability. We live in a climate that’s pretty lush and green, and while it’s easy to keep it that way when the rain is consistent, you don’t want to be working overtime to use up water. |
| 3. Encourage Recycling and Composting
Setting up a recycling program and providing tenants with compost bins for organic waste can greatly minimize the environmental impact of your property. Offer educational resources to help tenants understand how and what to recycle or compost. |
4. Use Sustainable Building Materials
For renovations or new construction projects, choose materials that are renewable or have been recycled. Bamboo flooring, recycled glass countertops, and low-VOC (volatile organic compounds) paints are examples of sustainable materials that offer durability and minimal environmental impact. |
| 5. Go Solar
If possible, consider installing solar panels on your property. This investment can drastically cut electricity costs and carbon footprint. Solar energy may not only lead to significant long-term savings but also serve as a unique selling point for environmentally conscious tenants. |
6. Insulation and Weatherproofing
Proper insulation and weatherproofing can keep properties comfortable year-round, reducing the need for extensive heating and cooling—and the high utility bills that accompany them. Check for any drafts in windows and doors and ensure that insulation is up to par. |
Energy-Efficiency
How to Do Better
- Insulation
Good insulation keeps energy bills down. Insulated walls, floors, and roofing can help reduce the amount of heat that escapes during cold weather and can also trap cool air inside during hot weather.
Heat and cold move freely throughout your rental property, and it will always seek escape. A surprising amount of energy is lost and wasted simply because it’s so easy for warm air and cool air to creep out of doors and windows. Good insulation can prevent that, providing a more comfortable indoor climate for your tenants and requiring HVAC systems to work a little bit less.
- Caulk and Sealing
Windows and doors need special attention when you’re working to improve the way your property conserves energy. If you invest in an energy audit before you start making upgrades (and we do recommend this), nearly every energy audit will recommend better caulking and sealing.
Insulate your roof and your walls, and make sure air is not escaping through windows and doors. Caulking is one of the best and easiest ways to ensure your property is as efficient as it can be. And, it’s also one of the most affordable ways to conserve energy. Caulk and sealant is pretty inexpensive.
Your older rental homes will require more of an effort than new construction when it comes to making the property energy-efficient. Prepare for this if you’re investing in properties of a certain age.
- Smart Thermostats
A smart thermostat automatically adjusts heating and cooling temperatures inside your property for optimal performance, based on time of day, season, and whether anyone is home.
While system designs may vary, common smart thermostat features include Wi-Fi enabled systems that are convenient and focused on conserving energy. They’ll learn your tenant’s temperature preferences and suggest a schedule that will automatically adjust to temperatures that save energy, depending on whether the tenant is sleeping or outside of the home. Wi-Fi enabled thermostats also allow tenants to control their home’s heating and cooling remotely through a smartphone or app.
Heating and cooling costs are the largest energy bills that your tenants likely face. You can find a programmable thermostat that’s reliable and sustainable for less than $100. And, it will make a big difference for your residents.
- Appliances and Lighting
If you have not done so already, it’s a good time to switch out your old, energy-draining appliances for new, energy-efficient appliances. There are some excellent models that are Energy Star rated and affordable. These use less energy than non-certified models, and they can help your tenant save money on electricity bills and use less water and electricity.
LED bulbs use less energy than incandescent bulbs and are longer-lasting, making them cost-effective in the long run. These bulbs are also less expensive now than they were years ago, so you don’t have to make a huge investment when you’re trying to bring more efficient lighting to your rental property. This is another quick and easy switch you can make that will hardly impact what you spend right now.
Go Green and Digitalize Your Rental Operations
How green are your own operations?
We’re talking mostly about the upgrades and updates that you can make to your rental properties in order to waste less and save more. Outside of those properties, there may be some things you can do simply by working smarter while you rent out homes.
As property managers in Washington State, we have gone as green as we can thanks to the technology we invest in for our operations. Here are some examples of what we’ve done, and what you can do, too.
- Reduce paper waste. You can opt for online leases, payments, and correspondence with tenants. Not only does this save trees, but it also streamlines your operations, making property management more efficient. Stop with the paper ledgers and the handwritten checks. Invest in technology that reduces paper and allows for online accounting, payments, and receipts.
- Recycle. Surely you’re separating your paper and your plastic and your cardboard and your glass. If not, give it a try. This costs very little and sets a great example as a landlord and a local business owner.
- Stay informed. Making environmental moves is a great way to market yourself to a community of potential tenants invested in good environmental practices. Plant some trees. Volunteer. Support local initiatives that align with making properties more sustainable.
Partner with and Educate Tenants
As we’ve said, many tenants today are way ahead of the curve and looking for ways to be more eco-friendly in the way they live, work, and enjoy recreation and entertainment. Some tenants may need a little nudge, however.
You can be a resource.
Sustainable property management also involves tenant participation. Educate your tenants about the eco-friendly features of the property and encourage sustainable living habits. Share information about energy-saving tips and the importance of turning off lights and appliances when not in use. You can only do so much as the property owner. Tenant behavior plays a big part in how much energy is used at your property. When you point out the money they can save on energy costs, they’ll likely pay attention.
Offering incentives can encourage tenants to engage in eco-friendly behaviors, such as rewards for consistently reducing utility bill costs or participating in community green initiatives. Recognizing tenants’ efforts bolsters a community-wide commitment to sustainability.
The WHY: Benefits to Making Your Rental Property More Eco-Friendly
Why does this even matter?
It’s okay if a small part of you is wondering that.
Maybe your tenants set up their own utility accounts and maybe you’re very much a live-and-let-live sort who doesn’t want to tell tenants how to use their electricity.
We get it, but what we’re trying to say is: energy savings benefit the both of you. Here’s how.
- You can use your energy-efficient systems and appliances as a selling point when you’re marketing your rental property. The ability to point out what you’ve done to be a “greener” rental home will set you apart from other rental properties on the market, and you’ll be a more attractive option, especially for tenants who are conscious of their carbon footprint.
- Existing tenants and those looking for a home in Washington State will notice the improvements that you’ve made, even if they’re minor. Those LED lights will be preferred over the incandescent bulbs. They’ll appreciate the programmable thermostats, not only because of the potential savings, but because they can feel good about not causing further harm to the earth.
Not only will you attract a larger pool of tenants, you’ll be more likely to retain them. Your residents will want to continue living in a forward-thinking property.
Tenants Appreciate Saving Money
Another benefit: tenants will have lower energy costs, and this matters to them, especially with inflation pushing costs for everything higher. Tenants are also at home more now, especially if they’re working remotely. Increased usage can mean increased energy bills.
Unless you invest in energy-efficient systems and upgrades.
When your appliances, systems, and amenities are helping tenants to lower their bills without using less of what they need, those tenants are going to remain incredibly satisfied with where they live. Tenants, even while trying to conserve energy, will still need heat in the winter. They’ll still require hot water for their showers, even if they’re taking shorter showers.
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A Resource Worth Having The U.S. Department of Energy has some great information on energy consumption and how to reduce what is being used. Share this with tenants who want to be mindful: |
On that website, you and your tenants can find great resources on how to set a thermostat for maximum efficiency, why it’s important to keep the lights off, and how disconnecting unused equipment and electronics from a power source can save a lot of energy.
It’s valuable, time-sensitive information, and when you can complement those resources with a dishwasher that uses less water or upgraded window treatments that allow for natural light in the property, you’re providing a real value to your residents. That makes you a great landlord, and it helps them decide to stay in place and renew their lease agreement year after year.
Energy Efficiency Will Protect Property Values
Let’s talk about another great reason to make your rental property an energy-efficient home: you’ll have an easier time with preventative maintenance. Your property’s value will continue to grow.
Those appliances, light fixtures, smart thermostats, and other systems will prevent the deterioration of your investment and increase the life expectancy of expensive systems. It will delay the build-up of condensation in your air conditioning unit. It will protect your property from mildew and mold growth. Opting for energy-efficient appliances can preserve your home, especially when the home is left empty during vacancies or when your residents are out of town.
Investing in environmentally sound solutions designed to conserve energy and limit greenhouse gas (GHG) emissions will make your property more valuable. This will have an impact when you’re establishing rental values, and later on in your investment journey, should you decide to sell your property.
Comfort and Quality of Life Matters for Tenant Retention
Tenants are more likely to stay in a home where they feel good. That’s not necessarily science; it’s common sense.
Many of the energy-efficient upgrades that we’ve talked about, such as improving insulation, increasing the quality of air flow, and utilizing smart thermostats to help maintain room temperatures, can make your home more comfortable to live in. Why would your existing tenants leave your property for a home that does not provide such benefits and comforts? Even ceiling fans are a perk that tenants come to love and expect in a rental property. LED lights so they don’t have to replace bulbs, and heat that stays inside the home…all major benefits.
Air quality is more important than ever, especially with more and more people living with asthma, allergies, and auto-immune issues. Some energy efficiency upgrades can help you use heating and cooling systems less frequently.
Adopting eco-friendly practices in your rental properties is not just good for the environment—it’s also a smart business decision. As a landlord, you have a valuable role to play in fostering sustainable living for your current tenants and the future generations.
By implementing these strategies, you help create a better future for everyone while potentially increasing your property’s appeal and value. Sustainable property management may require an upfront investment, but the long-term benefits—a healthier planet, higher property values, happier tenants, and cost savings—are invaluable.
There’s no need to make all the changes overnight. Take gradual steps towards sustainability, investing in changes that make the most sense for your properties and budget. Start the shift today and become a leading example in the evolution of eco-friendly rental spaces.
We can help you make some good decisions. Please contact us at Real Estate Gladiators. We serve Monroe, Issaquah, Bellevue, Everett, Lake Stevens, Kirkland, and other cities in and around King and Snohomish counties in Washington State.
