The current real estate market can be tough and property managers are experiencing more vacancies, dropping rent prices, and difficulty finding qualified applicants. It is increasingly important to market yourself with a competitive advantage and going green may just do the trick.
Green Your Properties...Green Your Marketing
1) Highlight the Savings
If other rental homes are marketing their property for the same price in rent, then you can emphasize the savings a resident will accrue due to lower utility charges because you've invested in environmentally friendly appliances, light bulbs, and fixtures.
2) Made in the U.S.A.
The Home Performance Resource Center states that most sealants, caulking, windows, and HVAC systems being used today in home energy retrofits are manufactured in the United States. You can go green by purchasing materials made in the U.S. because it lowers the transportation fuel and energy spent importing goods internationally.
3) Breathe in the Fresh Air
Most rental units need to be repainted from time to time and investing in no or low-VOC paints and sealants is a great opportunity for you to market yourself as green. Advertise the fact that you care about creating an environmentally friendly and clean air habitat for your residents and their families. Parents and pet owners may be particularly attracted to a listing that boasts of having a lower toxicity.
4) Non-Toxic Matters
Advertise the fact that you do not use toxic chemicals as pest control either inside the residence or outside in the yard. Elderly people, responsible moms, and environmentally conscious individuals alike will gravitate to a safer environment for their home.
5) Children Are Receptive to Green Messages
Kids today are inundated with frightening messages of global warming and will be interested in learning what environmentally friendly measures their parents have made by reducing their costly resources in an energy efficient home. This advantage in the rental market is priceless.
6) Showcase Your Transit
If your rental properties are located near public transportation, market this attribute! Provide residents with a bus schedule or a biking map or show how close certain amenities are so that they can cut their gasoline costs and go green.
With your marketing campaign boasting some of your property's green advantages, you will be filling vacancies faster and retaining qualified residents for longer. Once you green your properties, start working on greening your management office, and advertise the improvements each step of the way.
Green Your Office...Save Money
Property managers cut costs and go green by running a paperless office and leveraging property management software. They can use email to send owners statements and collect rent online.
1) Invest in Web-Based Property Management Software
Efficient business operations and good accounting are critical to running a profitable business. By using web-based property management software you can securely store all your files in one place and access them remotely for a 24-7 management approach.
2) Accept Online Payments
Eliminate the rent check and have payments deposited directly into your banking account. Go green by managing your accounts online and eliminate costly trips to the bank.
3) Run a Paperless Office
Using less paper at your property management office will help save you money and the environment. Paper, ink, and file storage are expensive but remember you also have to pay an employee to do the work, and that adds up! Try and eliminate the paper trail by using property management software to run reports and use email to issue monthly statements.
Marketing is very important and a few dollars spent in green property management can go a long way to make it easier for properties to stand out from the crowd.