Renting out a property, whether it’s a vacation retreat or an investment, is a great way to create a nice monthly revenue stream. If you are already renting or are planning to, why not get the most out of your investment? Windows might not be at the very top of everyone’s list when it comes to increasing value, but we decided to share our top 3 reasons why it should be.
Increase Property Value
The first reason is an obvious, yet subtle topic and that is the overall property’s increase in value. Of course there are countless ways to add value, and therefore rent pricing to your rental property, but none are as cost effective as a window replacement. It’s estimated that the value of your property will increase about 74% of the amount spent on replacement windows. For example, if you spent $15,000 on windows, your property would go up about $11,000 in value. That would definitely make for a nice monthly bump in rent but the value doesn’t stop there.
Heating & Cooling Savings
With energy efficient replacement windows, the tenant will be able to save drastically on their monthly utility bills (or you if you’re paying.) Aside from the savings on the bills, the heating and cooling systems will be under less stress and are far less likely to need replacement themselves. Trust us, it’s far easier, and less stressful, to replace windows rather than an air conditioning or heating system. Everyone wins when you can save time and money.
Landlord & Tenant Relations
When it comes to a rental property, it’s just as important to be a good landlord as it is to be a good tenant. Renters are paying you for the home usage and the maintenance required to keep a healthy and functional living situation. Attention to detail and small efforts like replacing the windows lets the tenant, and potential renters, know that you are a dedicated landlord who takes pride in the rental property. Just as property owners fear negligent tenants, renters also fear negligent landlords who don’t care about upkeep or maintenance.
At the end of the day, replacing your windows can help solve a lot of issues and potential issues that aren’t so obvious. From increasing the value of the property, to saving on monthly bills, window replacement is a super simple way to make your investment more profitable. If you’re interested in replacing the windows of your property, we are local and always available to help you on your project. Contact us anytime through our contact form or by phone at 1-484-645-6331