Unless you’re energy conscious already, like many landlords, you might forgo adding energy efficient updates to your properties for financial reasons. Since most tenants pay the utilities, some owners feel these types of upgrades aren’t worth their time and money.
The Upside To Energy Efficient Updates
Many residents care a great deal about saving energy and are concerned about the average cost of their monthly electric bill. In a competitive rental market, listing your vacancy as an energy efficient dwelling could set you ahead of the pack.
Visit the Department of Energy’ website for potential tax credits, rebates, and savings for energy efficient updates.
Change The Lightbulbs
Energy efficient light bulbs cost a little more than traditional light bulbs, but in the long run, they’ll save you money. Light bulbs like CFLs and LEDS use less energy and last longer.
Check The Water Heater Settings
The factory setting on many water heaters is a very balmy 140 degrees. The Department of Energy states that when you turn the temperature down 10 degrees, you could save up to five percent on energy costs. They recommend dialing down to 120 degrees for efficiency without sacrificing comfort.
How’s The Thermostat?
Help lower heating and cooling costs with a programmable thermostat. These nifty devices reduce energy use when a tenant is sleeping, at work, or away on vacation, resulting in reduced utility bills.
Seal Doors and Windows
Inspect your property’s windows and doors every year for holes and cracks, especially on older units. An inexpensive window insulator kit will seal up any gaps and help keep the heat in and the cold out during the winter months, causing a possible reduction in heating bills.
Are you thinking of installing new windows? Check with your local utility for a free energy audit and to be eligible for a tax credit.
Attic Insulation
The insulation material can be difficult to work with, but in the long run, adding insulation to the attic will keep utility cost lower. Depending on your level of expertise, free time available, and budget, this project could be a DIY or a task you hire out.
Furnace Filter
Heating and cooling experts suggest installing a clean furnace filter every six months or less. A new filter ensures cleaner air and improves efficiency. Filters are inexpensive and easy to install.
Get Shady
Studies have shown that streets shaded by trees can be up to six degrees cooler in the summer than in areas without trees.
Plenty of shade around your property can significantly reduce air conditioning use.
Plant low maintenance shrubs and trees under windows for a natural way to stay cool. Plus, the added greenery will amp up your curb appeal.
Have questions about your rental property? Contact us today for assistance.
