Boost your rental returns with solar energy
Property professionals and owners are actively looking at various power alternatives to make their properties more attractive to tenants and to increase its value.
A solar system is one solution available to retain and attract the right tenant, but as with anything in property, it must be managed and fully provided for in your lease agreement to avoid issues down the line.
How can solar improve your property returns?
The University of Pretoria conducted a study and found that residential properties with solar PV installations had a higher market value than comparable properties without solar panels. The estimated value added by the solar PV installations ranged from 3.5% to 7% of the property’s market value.
The updated Residential LeasePack includes clauses that address the installation and maintenance costs of alternative energy sources to help you achieve higher rental returns while avoiding tenant concerns.
Vacancy Survey 2023 Q3
The demand for residential rental property remains strong. Vacancies have declined nationally to 6.76% in the third quarter of 2023, the lowest since 2017. Despite a constrained economy, tenants have continued to meet their rental obligations with te…