San Diego Condos-Go Green Is the Motto of both Tenant and Landlord
Go green is the latest buzz in the arena of San Diego real estate. It is not only the condo owners, who are fixated on eco-friendly homes, it is the tenants as well. San Diego’s condo rental market is fast expanding. The new age renters are ready to give extra premium for the green amenities available in their rented properties. In addition to the usual amenities available with condo properties, eco friendly features now influence decision making for lease or renewal of a contract. The owners of San Diego condos are conforming to green standards slowly but steadily.
The survey of one of the leading online portals revealed that as many as 17% of the renters would not even consider San Diego condos that had no green and eco-friendly features. On the other hand, nearly 60% of renters said they specifically search for the condo properties in the city that offer green features.
Older San Diego condo communities lack environment-friendly features. However, they are incorporating more ‘green’ features to entice new renters. Onsite recycling programs, energy efficient electrical appliances and energy-efficient windows are some popular green features. Since, installing energy efficient appliances is expensive, the rent these condos fetch is higher as well.
If you want to rent or buy a cheaper, older San Diego condos, it may be difficult to get any ‘green’ features. If you own a condo, you may have to install energy efficient appliances yourself. It does bring returns, not only as rent but incentives from the federal government as well. For example, using energy efficient front loader washing machine in a condo, you not only save your electric bill, you also get a tax rebate. The local water suppliers actually offer a refund or a rebate up to $200 for appliances that use less water. (Energy-efficient dishwashers, washing machines or dryers that use less electricity or small amount of water).
However, adding green features to condos is expensive, and some condo-landlords are reluctant to invest as the rental incomes are taxable and are very low to start with in the current economy.
Today’s savvy renters look for green San Diego condos for energy efficient features that help save money in the long run. To keep with the trend, a number of San Diego condo home owners associations have launched a number of initiatives in this direction. They are replacing ordinary lights with energy efficient lighting systems in the common area, offering Valet Waste Services and introducing water sub metering in order to reduce water usage between 20 percent and 25 percent.
All these initiatives are making the San Diego condos rental market even more attractive for the renters. If you are looking for rental condo property in San Diego, it is recommended that you ask for green amenities. With renters showing their interests in occupying a unit wrapped in green features like a recycling program or better windows, more and more condo-owners would come up with the properties with less environmental footprint.
