3 Options Realty, LLC

Landlords struggle to maximize the rents on their properties.  Sometimes, conceding to a rent rate that takes the account negative is the best that can be done.  One way to boost rental potential is to promote the property’s green features.  It costs no more to promote an asset than to ignore it, so if the property already has energy efficient appliances (such as those with Energy Star ratings) or other energy efficient systems, let the marketplace know about it. 

Even something as simple as a programmable thermostat is worth noting.  The EPA has done exhaustive testing to bust the myth about leaving the thermostat at 78° during the summer and at 67° all winter.  The EPA has determined that setting the thermostat higher in summer and lower in winter when not at home, and programming it to come on shortly before you are due home, is far more energy efficient.  The EPA also proved that when heating or cooling, setting the thermostat higher or lower than the optimal temperature will not heat or cool the property any faster.  So if you want the temperature at 78°, set the thermostat there and leave it alone.

Collect power and gas consumption records from the previous owner or tenant and, if the information is favorable, don’t be bashful about using it in your marketing.  Even if prospective tenants aren’t impressed enough to pay more per month, you may attract a tenant sooner than later.  Reducing marketing time has the same affect as increasing rent.  Occupancy equals money in the management of leased properties.