Happy Holidays!
As we all rush into the holidays, I would like to take a moment to honor the victims of the Ghost Ship fire. While the loss of all the young lives is deplorable, may this incident serve all property owners as a reminder to be vigilant about their properties’ conditions regardless of the type of business or tenant occupying the space, or the terms of the lease.
While we sometimes get focused on the revenue losses or gains we endure as landlords, the possibility of a loss of life should always be top of mind regardless of the circumstances and who we can point fingers at. Ultimately, no matter who the responsibility for maintaining a safe environment ethically or legally falls, morally, we are the ultimate guardians of our properties and therefore its tenants, inhabitants and guests.
For those of you who personally know a family who was affected by the fire, my heart goes out to you. For those of you who can only mourn from afar, take the time this holiday season to hold your loved ones just a little tighter for a second longer. May we all hold out hope for the promise of a new year. I wish you all merry holidays and a happy new year.
This month, we are featuring a guest writer from Edisun Renewables, who offers solar installations that allow property owners to go green while generating income.
Best,
Natalie M. Drees
Broker/Owner
Generate New Revenue by Going Green
San Francisco property owners know how difficult it is to increase profits as raising tenant rents is often impossible. However, it is possible for building owners to increase revenue by offering additional services. Traditionally, tenants write checks to their landlords each month, but they also write a check to the electric company. Now there’s an easy way for property owners to collect both payments. Installing a solar system on multifamily residential or commercial buildings allows property owners to charge their tenants for the electricity they use.
The best part is that solar buyers recover their upfront costs quickly. Currently available environmental tax credits, local incentives, commercial depreciation rates, eliminating common area electricity costs and charging tenants for their power allow solar buyers to recuperate their initial expenses within three to five years. After that, it’s all profit.
A solar system coupled with a Tesla battery also increases the security and safety of a property and its tenants in the event of a power outage or natural disaster. Crime increases when the power goes down, not because it’s dark, but because electric security systems go offline. A Tesla battery will not only keep a building’s security system functional, but it will also keep emergency lighting and elevators working to give tenants time to reach safety in the event of an emergency.
For those buildings with available parking, there’s even the opportunity to install electric vehicle charging stations. Tenants with electric cars would pay for the electricity needed to drive, yet another untapped revenue stream for property owners.
If you are interested in learning more about how a solar system can benefit you, please contact Steve Pariani at Edisun Renewables at steve@edisunrenewables.com or (415) 634-0257.