We've all seen the green products on the shelves of our supermarket chains. Ecologically friendly toothpaste, toilet paper, laundry detergent and even grocery staples such as eggs, beef, and juices are filling the shelves. As usual, the enormous food companies have identified a trend and exploited it for their benefit. People are attracted to products that make environmentally responsible claims, and they're even willing to pay a little more for them. How can you apply this concept to your rental property?
Consider investing a little money in a solar panel or small windmill. You can get the low-end versions of these high-profile energy makers for surprisingly small amounts of money. You can get a solar panel for somewhere in the neighborhood of $500. A windmill can be bought for a similar amount of money, although you will need to devote some time to the project if you want to install it yourself. These green energy sources won't produce all that much energy--nowhere near enough to power a house. But they might power, say, the refrigerator and a bank of rechargeable batteries that can in turn be used in all sorts of small home appliances.
If you were to get both a solar panel and a windmill, you're talking about real eye-catching features that are going to attract a certain niche of renters, even if the rent is $50 - $100 above what the unit would otherwise be worth. A resident would have to wait many years in order to make their solar panel pay itself off, but you will recoup your capital within a matter of months. The tenant will love to tell their friends and family about the eco-friendly additions to their house, and they will also appreciate the lowered electricity bills.
For added impact, you might want to get some stickers that announce-- this item is powered by the sun (or wind). You can put them on everything that is battery powered in the unit, from remote controls to cameras to certain lawnmowers.
[expert=Wolfgang_O]
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