Should landlords make energy efficient upgrades to their investment properties?
I had a consultation with some joint owners of a rental property in a nice neighborhood nearby that generally has a good rental appeal and pretty high rents based on the neighborhood, surrounding area, and desirability. One of the parties asked me about making energy efficient improvements to the home for renting it out. The blunt question was “how much more rent will I get by putting in new windows?” The windows are probably 40 years old at present, and some don’t open. My comment was that I thought it would be a quality upgrade to their rental property and would get them a better tenant faster and more importantly keep a good tenant with the savings on their utility bills. The monthly rent, maybe $100 per month more.
In a nice way, they really didn’t think that was enough to do the upgrade and didn’t care what the utility bills would be for their tenant. I told them that buyers today and tenants are picking properties based on utility bills. Believe it. The current economic state has seen a huge move to analyze where we spend our money. Utility bills are money down the drain, no investment purpose of payoff. If we can save $100 on utilities, we can purchase a week's worth of groceries, buy gas or BART tickets to get to work. THIS is a BIG deal with people being laid off, hours cut and working two jobs to make ends meet while we dig out of this foreclosure and bank failure driven economy.
My opinion is that this has changed most people forever!!! I’ve seen a big trend this past year of people moving down in rent and size home to save money and utility bills. It hasn’t just happened once, it’s happening over and over. Once we become aware of things that can save $$$ in our budget, we will not succumb and go back to our old spending habits.
Someone I know reduced their PG&E bill by over $200 a month by just changing all of her lights to fluorescents and turning lights off that the family of 5 would normally not worry about. THAT’s a BIG deal and something the kids and parents won’t forget. So if you are a landlord thinking about an energy efficient upgrade for your rental property, trust me, it will make a difference to your tenants and the longevity of their stay. Isn’t your biggest expense in finding a new tenant my fee in finding the new tenant? I’d like to save you that and keep a good tenant. Give them a property they’ll want to stay in.
DRE 615420
LGLS CP and GREEN Realtor, EcoBroker…thoughts from the field.
Terrylynn Fisher, Realtor
The answer might surprise most people. Most will say, "Just sell my house", but how we do that is the question. Marketing of course is a big piece of the equation. It is a given that we must be competent. Realtors with alphabet soup (those initials after their name) believe that their specialties serve their clients well because they have added specific knowledge and education that helps their clients achieve their goals.
Some of the designations and specialties are SRES Senior Real Estate Specialist, CRS Certified Residential Specialist, E-Pro, Luxury Homes, LGLS CP Live Green, Live Smart Certified Professional, EcoBroker and many more. They tell you the Realtor's values and demonstrate commitment to their profession and provide value to their clients with the added knowledge that they possess.
Primarily, the agent's job is threefold - To be a counselor, negotiator and facilitator. What does that mean? The market sets the general price for a property, but a skilled negotiator with a strategy can net you 3, 4, 5% more. Concessions and sales price can be affected favorably with a good negotiation and knowing what the goals and strategy are. Many agents have taken additional training in the area of negotiation to sharpen that skillset.
Next, a home is the largest investment most people make in a lifetime... why gamble your investment with a part timer? If you are selling your home yourself, aren't you a part-timer? Do you want a part-time doctor, lawyer, accountant? Or do you want someone who actively works in the marketplace on a daily basis? You want someone who gives full time effort to the task and treats real estate like a business so that their business is to get your home SOLD or to find you the right home and CLOSE THE SALE.
Don't forget Realtors are a great resource. The best and busiest realtors know the best and busiest home stagers, inspectors and lenders; you know, that 10% of people who do 90% of the business? It's my opinion the question is not whether to use a Realtor, but which Realtor to use.
Then think about this... You hire a Realtor primarily for what they KNOW about selling homes and secondarily for what they DO to sell homes.
Experience brings you a knowledge base for problem solving and innovative solutions that can be a huge asset when things come up in your transaction. What we do everyday becomes that body of knowledge. And it's for hire.
Terrylynn Fisher, Realtor, DRE # 615420
CRS, GRI, CSP, LGLS, CP, SRES, Eco-Broker, Luxury Home Institute Member
cell 925.876.0966
fax 925.887.6614
Email Terrylynn
Owner of StagersLISTExpo.com
Terrylynn has been a Realtor in Contra Costa County for over 30 years.
This home is a short sale and subject to lender approval. One loan through Washington Mutual. Lender says bring offer and submit.
This is not your average short sale... dual paned windows, tile flooring, tile countertops, 6 panel doors, ceiling fans, removed acoustic ceilings.
8-30-09 UPDATE, three offers, lender has stalled foreclosure and it's been 6 weeks with three offers in and NO answer. Oh do they really want to have the property off their books, one has to wonder, ehhh?
DRE#00615420
Aren’t we all on a budget? My daughter forwarded me an email about Summer Movie Clubhouse and I thought it was good information to pass on!
Starting this week, local cinemas offer kid’s movies at 10am for only $1. If you purchase all 10 in advance, it’s only $5 total! Movies are shown every Tuesday and Wednesday at 10am. They may be movies you’ve already seen, but it’s still fun to get the “going out” experience on any budget.
In our area, there are two participating theaters. Check the link above for more areas.
Walnut Creek Cinemark at 1201 Locust Street
June 23 & 24 - Fantastic Four 2, rated PG
June 30 & July 1 - The Tale of Despereaux, rated G
July 7 & 8 - Nanny McPhee, rated PG
July 14 & 15 - Madagascar 2, rated PG
July 21 & 22 - Horton Hears a Who, rated G
July 28 & 29 - Shrek The Third, rated PG
Aug. 4 & 5 - Mr. Magorium’s Wonder Emporium, rated G
Aug. 11 & 12 - Spongebob Squarepants, rated PG
Aug. 18 & 19 - Robots, rated PG
Pleasant Hill Century 16 at 125 Crescent Drive
June 23 & 24 - Spongebob Squarepants, rated PG
June 30 & July 1 - Veggie Tales: The Pirates Who Don’t Do Anything, rated G
July 7 & 8 - Curious George, rated G
July 14 & 15 - Nanny McPhee, rated PG
July 21 & 22 - The Tale of Despereraux, rated G
July 28 & 29 - Madagacar 2, rated PG
Aug. 4 & 5 - Space Chimps, rated G
Aug. 11 & 12 - Fantastic Four 2, rated PG
Aug. 18 & 19 - Horton Hears a Who, rated G
See you at the movies!
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Sellers want info about staging & green techniques that increase your bottom line? Buyers that want "both" sides of the story before making a decision? It's your real estate journey, I am the guide
Terrylynn is a Realtor/CSP Staging Consultant and 
local selling real estate since 1977. Terrylynn says, "I BELIEVE that staging enhances my client's bottom line. Of all of the activities I do on behalf of my clients, staging is the one thing that the client can see, feel and experience as enhancing their return on investment. They KNOW their home is transformed into a product to market and sell. They KNOW staging is a marketing tool and they KNOW I will use it as one of the tools in the arsenal to sell their home at it's maximum sale price in any market. Who am I to decide the client shouldn't have every opportunity to maximize their investment? It is my job to tell them what I know that can enhance their sale. It is then their decision. To me, not telling them about staging and its benefits is NOT an option. Staging, expert negotiating and the truth, I owe them no less. "
Connie purchased after saving for years and thinking that she could not afford to buy.
Connie says, "Thank you TERRYLYNN! Because of you I am getting the nice, fixed up duet home wtih garage rather than the fixer or a condo!!! You encouraged me to go for what I wanted, your negotiation skills, hard work and patience were invaluable during this process. And my Welcome Home website was just wonderful for all my friends and family to see my new home!"
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