Green is green but not literally green! Whoah! Sounds confusing? Right! But not at all if you’re one among the rising number of persons who are becoming green-minded. Yes, you read the term correctly! But again, you might be interpreting it wrongly! This doesn’t mean having a naughty or sexually related interpretations of things and ideas. It is meant to refer to the state of being environmentally-inclined to almost anything within your lifestyle.
Being green when it comes to your home is one of the most celebrated ideas in the world of home construction and home decoration today. While site, height or elevation, square footage and number of years from date of construction are still among the top determinants of renal property prices, the green attributes are closely following as common selling factors too. And with this, if you have a rental property, capitalizing on them can give you an edge over competitors. Here’s how.
- LEED Certification: Assurance matters. It certainly is. If you’re on to proving to potential tenants that you’re building is green, then its LEED certification is an important presentation. Today, this certification is world-renowned symbol of achieving sustainability development. It stamps the building with a rating that makes it healthy, efficient, and cost-saving. According to a study, green rental properties showed a strong command of 9.1% more rental premium as compared to their competitors which are not LEED-certified.
- Energy Star Compliance: Another way to market your rental property is by presenting its energy star compliance to the customers. It is a measure of energy efficiency issued by the Environmental Protection Agency (EPA). While it is commonly associated with the energy-saving features of appliances, green buildings are also issued with this symbol to recognize the efforts of developers and owners in making the property a contributor to lessening carbon footprints and increasing energy efficiency.
Who to Market
Millennials are the best market audience of rental properties. In a recent article published by forbes.com, it was stated that millennials are driving up the single-family rental market. Their semi-nomadic lifestyles give them the mobility and flexibility to accommodate new challenges to their freedom, careers, and independence.
Green rental properties give millennials the edge of sustainability while digesting its benefits and without having to give up the freedom they always wanted.
Where to Market
The millennials are very attached to the technology of their generation. This is very evident in every aspect of their lives. And you would seemingly fail not to see a millennial without gadgets wherever they may go. Be it at home, workplace, malls, food hubs, and even in beaches, forests, mountains, and caves – the millennials are always armed with their smartphones, tablets, laptops, and wearable technology pieces. These are proofs of their mobility, tech-saviness, and even an option for their flexible productivity.
They are always on top of their social media accounts. Be it Twitter, Facebook, Instagram or other well-known social media networks today, a millennial has certainly an account maintained. With this, there is no other option but to enter their world as well if you want to connect with them and tap heir potentials as the next tenants of your green rental property.
Methods of Marketing
Social media is such a powerful tool. Make your rental property known to the millennials through posts, photos, and videos. Descriptive texts along with enticing photos and a video tour of the property are some ways you can use to introduce your property to potential tenants.
Millennials would certainly love to experience living in your rental property that offers wide street lines, a yard and even a car port. While enjoying these perks, they are still bestowed the capacity to move out when necessary as if a new adventure awaits them in the open!