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I am excited to announce a new program we are rolling out with new leases and renewals.
First, we want to share that we are recognizing and anticipating the shifting needs of the rental market. The trends continue to look promising for investors who want rental income. As more millennials enter the market saddled with student debt, they seek the simplicity that comes with rental living over homeownership. Another key trend is renters of all ages are seeking “done-for-you” services that deliver convenience so they can focus on the things they truly care about.
For that reason, fewer and fewer residents each year have been changing their air filters reliably on their own. This has always been a problem for landlords, and HVAC continues to be the largest annual line item expense for even the most seasoned property managers. We found from HVAC professionals, utility companies, and Department of Energy studies that simply changing air filters regularly saves up to 15% on heating and cooling bills, and HVAC issues can be reduced by up to 40%. Big doors swing on small hinges they say, and failing to change filters is one of those small steps that have dramatic outcomes.
We’ve tried different ways to motivate and educate residents on the importance of this, but with only incremental improvements. It is still the minority who will go to the store, buy the proper filter quality and size, and remember to change them on schedule. And more, there hasn’t been a way to effectively hold residents as responsible, accountable, and liable for their negligence. Unfortunately, owners like you end up bearing the burden of these costs. We know why it happens:
- 40% of residents can’t find their odd filter size at their local store
- Many rental residents have never changed air filters before
- Some just don’t feel motivated to do it
- And above all, air filters are “out of sight, out of mind” and thus… forgotten.
We have now figured out a smart solution that solves all of these problems while saving residents money.
In speaking with FilterEasy, the #1 air filter subscription company in the world, we were able to structure a solution uniquely designed to dramatically increase rental resident compliance. We are now positioned to hold residents accountable when they are negligent. You will see it in property descriptions and leases as part of our “Utility & Maintenance Reduction Program”.
- The exact quantity, size, and quality of filters needed will be delivered on a subscription basis for the lease period. No more searching at the store.
- Shipments will have Nestwell's logo and messaging, reminding residents of their obligation.
- Filters will be stamped with expiration dates, so we can hold residents accountable.
- Instructions, as well as benefits, will be included to educate and motivate the resident.
- The most important thing is that the filters arriving on their doorstep is the trigger to change the air filters on time, so remembering is no longer part of the equation. In addition to the in hand reminder, we also send out email notifications to the tenant the day the filter gets shipped out. In this email reminder, there is a tracking number so the resident can see where the shipment is in real time.
From here forward, we will be providing this amenity to attract and retain residents. By adding the monthly cost for filter delivery into the advertised rent or Resident Benefits Package we will be able to market this as an amenity. We negotiated a bulk cost, and will save residents time going to the store, hundreds in utility and procurement costs, and of course, ensure a healthy home environment.
The benefits to you over the next couple of years alone can be in the hundreds or even thousands. There will still be occasional problems due to system age and normal wear, but we now get to see the frustration and cost of preventable problems disappear.
So, what does this cost you? We decided that we wanted to strengthen our relationship and simply deliver more value and a higher level of service to you at no additional cost. Historically, Residents have been responsible for this cost, and now they will pay less. We know our business will benefit from more satisfied residents and clients alike.
In addition to this being a tenant paid service if you’d like to get this program started right away, we can always add this to your monthly management fee and once your tenant is up for renewal or your property is vacant, then the new resident can then assume the cost.
It is our pleasure to announce this exciting new service enhancement, and it is our privilege to continue to work in ways that deliver the best returns possible on your investments.
Yours in success,