Improving energy efficiency in your rental property sounds like a win-win. Both you and your tenants will save money on utilities while protecting the environment. But the logistics of energy efficiency can quickly become complicated . . . and expensive. Fortunately, not all energy efficiency improvements require significant cost or hassle. Here are some ideas for minor changes that can add up to significant environmental benefits:
1) When your existing light bulbs burn out, why not upgrade to something more energy efficient? For instance, LEDs last longer and use less power.
2) Check windows and doors for drafts and replace caulking or weather-stripping. Improving the seals will stabilize each unit’s interior temperature and lessen the need for running air conditioners or furnaces.
3) Adding insulation to walls or the attic is another low-cost way to minimize the exertion of your furnace or air conditioner. Hanging curtains, blinds, or shades on windows modulates indoor temperatures and adds sun protection.
4) Regularly replace furnace and air conditioner filters to improve their efficiency. Periodic inspections are ideal for replacing filters or providing tenants with new ones.
5) Smart technology, such as programmable thermostats and motion-sensing lights, reduces energy consumption and monthly bills. Installing surge protectors protects electronics from voltage surges and prevents them from drawing electricity when idle.
6) Hot water heaters are often set to a higher temperature than necessary. Reducing the temperature will decrease energy consumption and improve tenant safety.
7) When it’s time to replace appliances, choose energy-efficient models that will lower future utility bills. Most new appliances meet energy-efficient standards due to federal regulations. But check local laws and building codes before committing to any appliance purchase.
When making environmentally conscious improvements, research any related rebates or tax incentives. If you don’t know where to start, an energy audit can pinpoint problem spots so you know where you should improve. Regardless of who pays for the utilities, energy efficiency will save money and attract tenants as you cooperatively safeguard the environment.
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Rentals America provides full-service property management for residential rental properties. Our team is wholly dedicated to property management, and we’re here to help landlords navigate the rental market