On the same topic as last week, we thought it would be good to offer insights on how sustainability plays a role in operating your short term rental. We spoke with Borrum Energy Solutions, and they had some tips for property managers.
Being a property manager or a landlord may seem simple, but there are many additional responsibilities and costs associated with this role. Maintenance and updates are a huge cost for landlords plus there are government regulations put in place to ensure these are upheld. This means the property manager does not simply walk away with whatever their renters paid. This money is further divided into paying property taxes, maintenance updates (i.e., painting, repairs, new appliances, etc.) along with other surprise expenses. That being said, if these updates are consistent, it creates property value which is beneficial for both the renter and the tenant.
Switching to sustainable microgeneration energy can be a great way to save on costs and that can otherwise be the owner’sprofit or even used as an emergency fund for the property. Additionally, if your property is listed as an environmentally friendly dwelling, it increases the renter attraction. 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 which is also beneficial to our community and our wallets. Eco friendly homes tend to fall into their own niche making them appealing.
There are many options available to pursue this sustainable path. Microgeneration wind power is a viable possibility depending on the wind profile of your residence. If you are interested in learning more about this option, be sure to check out this Canadian made wind turbine: The Anorra. This microgeneration turbine has been tested to survive even the harshest Canadian winters, making it a durable product to invest in. For the price of a depreciating jacuzzi, you can invest in appreciating energy sources.