With yesterday being Earth Day, we thought it would be fitting to talk about becoming a greener host.
Being a property manager is simple right? You post you property online, people come, people leave, you make money… not exactly. As current property hosts can attest, there are endless hidden utility expenses that need to be managed, and with those come hidden costs. To name a few: gas, water, plumbing, telephone, waste management, cable TV, streaming services, security systems, WIFI and the list goes on. But wait, we are missing one… electricity.
So, what makes electricity different?
For most if not all of the utilities previously mentioned above the user is at the mercy of the provider. If you don’t pay your bills at the prices set by the provider, you no longer get the luxury of receiving that service. For the longest time electricity had been no exception to this rule but, recent technological developments have made it possible for users to break free from this unfair arrangement.
Introducing microgeneration. Microgeneration is the production of electricity at the point of consumption using methods such as solar, wind, tidal, geothermal, etc. With electricity rates on a steep rise in the coming years it may be time to invest in an energy solution that will allow you to sell excess energy back to the grid and actually profit on your tenant’s energy usage!
Additionally, properties listed as being environmentally friendly are viewed as favorably compared to ones that are not. It’s a simple give and take; if you are offering ecofriendly amenities, you will require less effort to acquire renters/sublets. Tenants will be proud to know they are using green energy while you, the host, profits from lower electricity costs.