If you are planning any renovations to your
investment or rental properties in the near future you should consider going as
green as possible. Improving your
investment property’s Eco Performance has monetary and intangible benefits as
well. You can ask your property
management to help you along with using some of the helpful information in this
quick guide.
Solar
Panels
First and foremost there is no quicker way to reap
the rewards of eco-friendly construction then with the installation of solar
panels on your investment property’s roof.
There are dozens of programs available in all parts of the country which
could help you improve the overall return-on-investment of your property. Additionally, the installation of solar
panels sends an eco-friendly message to your tenants, your neighbors, and the
investment property community. Don’t
hesitate to start working on a solution for this improvement. All Solar companies will come to your
property and give free estimates and also provide a thorough array of options
for your individual situation.
Roofing
There are so many new eco-friendly roofing materials
available now that it boggles the mind.
They include slate, metal, composite, and recycled plastic and/or
rubber. These new eco-friendly materials
offer superior fire and impact resistance and come in various colors and
textures. There are a number of
manufacturers are selling roofing shingles made from 100 percent recycled vinyl
and cellulose fiber that resist fading and are fire retardant. Other products include shingles made from 98
percent post-consumer metals – some of which look just like a wood shingle or
shake but don’t warp, crack or mold.
Insulation
Eco-friendly manufacturing has now penetrated the
insulation market. There are several eco
and health-friendly options in each insulation category. One of the most recent products is a
soy-based polyurethane spray-in foam
that expands to fill-in cracks, crevices, and hard to get to places which will
provide an airtight seal with extremely high thermal resistance. There are also new batt-type insulation
products constructed from post-industrial cotton and denim fibers that contain
virtually no chemicals. There are
several products that are now odor and formaldehyde free. One manufacturer offers an alternative
insulation that resists mold.
Windows
and Doors
When replacing windows and doors, look for low
U-factor ratings – which is the measurement of a window’s heat flow. An average U-factor rating is .25 to
1.25. An easy and cost effective way to
help improve the air leaks around doors and windows is to use caulking around
the entire perimeters of each opening, the trim, the window housing, and the
framing (if exposed).
When replacing windows consider dual-paned glazing
with Argon chambers; patio doors with double or triple pane glass to improve
energy efficiency. To be really
eco-friendly consider installing new windows and doors manufactured using a water-based
treatment that decreases Volatile Organic Compounds (VOC’s), which are a key
cause to indoor air pollution.
Tenants Can Help You
Implement a plan with your property management team
to talk with tenants about being eco-friendly partners with you. Have your property management team put
together a list of eco-friendly energy saving hints and tips that will not only
save your tenants cash each month, but will improve the overall energy
efficiency of the property for the long-haul.
It is a good practice to print the list and display it at various
locations on each of your investment properties, including posting it on your
company website. Some ideas for the list
include but are not limited to:
11) Install
thick drapes or shades at all large windows.
This reduces heat loss in winter, improves heat gain controllability in
summer, and also provides the tenants with privacy.
22) Only
use washing machines and dishwashers when they are full.
33) Install
auto-thermostats as a difference of 2-3 degrees could be hundreds of dollars
spent on unnecessary energy costs with little or no comfort level increase.
44) Unplug
cellphone chargers, appliances, etc., when not in use.
55) Install
faucet filters to avoid using plastic bottles for water.
Conclusion
Each and every eco-friendly improvement or addition
can collectively make a big difference in the bottom line of your rental
property. Make sure to get your property
management team involved in this process as they should be fully prepared to
help you in this endeavor. If they are
not you can easily use this guide along with some quick research and you will
be well on your way to having a more eco-friendly rental property business.
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