Real estate is one of the best investments on the market. Over the past few years, the number of people renting living spaces in the United States has grown substantially. This has also led to a rise in the number of people adding rental properties to their investment portfolios.
Nearly 14 million rental properties in the United States are owned by individual investors. Keeping the tenants in your rental properties happy should be a main priority. One of the best ways to achieve this goal is by investing in the right upgrades.
Below are some electrical improvements that your tenants are sure to love.
Improve Interior/Exterior Lighting
As a landlord, you need to focus on keeping your tenants happy. Performing routine inspections of your properties is a great way to pinpoint problems that need to be addressed. If you notice that the interior/exterior lighting solutions you currently have in place are lackluster, it is time to make a few upgrades. Improving the interior/exterior lighting your rental property has is simple and affordable.
Ideally, you want to invest in LED fixtures for your rental properties. These fixtures will not only put out more light, they will also consume less energy. This means you can help tenants lower their monthly energy bills. Working with Grener Electric is the best way to ensure new light fixtures are installed correctly. Our team will work hard to get your new fixtures installed in a timely manner.
Replace Outdated Wiring
The average home in the United States is nearly 46 years old. The older a home gets, the more problems it will ultimately have. If you are looking for electrical improvement projects to invest in, you should consider upgrading the wiring in your rental property. Wiring that is nearly 50 years old will probably be pretty unreliable and dangerous.
Modern electrical wiring is more durable and far safer. This is why investing in a rewiring project is a great idea. Old wiring is prone to overheating, which can result in fires occurring. Instead of putting your tenants at risk, you need to bring in an electrician to rewire your property. The money paid for this essential upgrade is definitely worth it.
Invest in a Backup Generator
When bad weather moves through your area, the local power grid can get damaged. If this damage occurs, your tenants might be without power. Instead of allowing your tenants to remain in the dark in a bad weather event, you need to think about investing in a backup generator. With the addition of a generator, you can provide tenants with the ability to keep the lights on during a bad weather event.
Before choosing a generator for your rental property, reach out to an electrician for guidance. With all of the different generators on the market, selecting the right one can be difficult. An electrician will consider things like your budget and the size of your rental property before making a suggestion.
Are you ready to invest in the electrical upgrades mentioned here? If so, Grener Electric is here to help.