June 18, 2024

Property Management Tips, RYPM Resources

RYPM

Renewable energy is no longer just a trend but a necessity. For Ontario landlords, using renewable energy in rental properties offers many benefits beyond just helping the environment. At Royal York Property Management, we highlight the need to adopt sustainable practices to increase property values, draw environmentally conscious tenants, and capitalize on economic benefits.

It is in this light that this blog explores the benefits of renewable energy solutions in Ontario rentals and equips landlords with the most recent information and practical steps to raise the sustainability parameter of their property to make it attractive to potential tenants.

Enhancing Property Value

Installing low-flow showerheads, solar panels, or any other geothermal heating can increase the value of rental property. With growing concern towards energy efficiency and reduction of utility bills, tenants are seeking energy-efficient homes. Thus, this makes those properties with installed renewable energy systems more attractive to tenants. Enhanced property value benefits not only the landlords at lease time but also at the time of resale.

Attracting Eco-Conscious Tenants