Four Powerful, Targeted Ways to Reduce Rental Expenses
At Targa Real Estate, we know how important it is to keep track of your costs when managing real estate. To help get you started, we’ve gathered four ways of reducing rental property expenses.
EMBRACING SUSTAINABLE ENERGY SOLUTIONS
Sustainable solutions are crucial to attracting new renters and lowering costs. Some effective, sustainable solutions include using LED bulbs, boosting insulation, and using energy-saving appliances, which saves on the cost of utilities in the long run.
USE OF WATER EFFICIENT TOILETS
Whether the landlord or the renter pays the water bill depends on the state, but it’s still worthwhile to look into money-saving options. Water-efficient toilets are high-efficiency toilets designed to remove waste using water velocity instead of water volume. This allows less water to be used with each flush, saving money on your water bill.
USE OF TANKLESS WATER HEATER SYSTEMS
Tankless water heaters may seem expensive upfront, especially if you’re replacing old water tanks, but they pay off in the long run. With tankless water heater systems, water is heated directly by electricity or a gas burner without using a storage tank. These tanks deliver a constant hot water supply, therefore, saving on heating costs.
Routine maintenance is essential to prevent damage to your rental property because it saves on repair costs. Rental managers can invest in creating a maintenance checklist, hiring a plumber to fix minor repairs, and implementing robust leasing damage terms. However, implementation of this process is based on each rental property's specifics.
These are some ways you can use to reduced rental property expenses. If you’re looking for more advice on your estate management, Targa Real Estate offers exceptional rental management services. Contact us for more information about our services.