Property owners and landlords who pay utilities for their renters can save energy and significant money with a few energy-saving tips and tricks. For example, renters often take advantage of not having to pay the electric bill by cranking up the air conditioning and wasting energy. As a landlord, you can minimize energy usage and control costs while still keeping tenants comfortable. Here’s how.
Replacing your property’s appliances may seem like a significant initial investment, but it can ultimately save you big on monthly utility costs. Old, outdated appliances can burn more energy than necessary. You could be losing money every time your tenant does a load of laundry or washes the dishes. Upgrading your appliances to Energy-Star approved models can significantly cut your energy bills and save energy.
Your property’s insulation can make or break the indoor temperature and energy usage. Drafts can make your tenant crank up the heat in winter and the AC in summer – only to have the air go straight outside. Replace old windows for glass that insulates the home. Check your weather stripping and replace any that’s worn or missing. Controlling the insulation around doors, windows, and skylights can help you maintain desired temperatures indoors without overworking the HVAC system.
This tip is more expensive than the others, but the long-term returns can be extraordinary. Replace your old asphalt roof with a “cool roof” – a roof that’s a lighter color and different material than typical roofing systems. Cool roofs can provide excellent insulation during the hot and cold months, regulating the temperature throughout the entire roof may require a large initial investment, but you’ll see returns for decades to come.
Speaking of HVAC, maintaining your system is another prominent way you can cut costs. Letting your unit and ducts fall into states of disrepair can mean they work twice as hard to accomplish half the work. Schedule routine HVAC maintenance at least twice per year to replace faulty parts, clean the system, and grease up the motor and other components. A well-oiled machine will reach desired temperatures easily, saving you energy and money.
Often, the heart of the problem is in your tenant abusing the HVAC system. Prevent this by installing a factory-programmed thermostat with energy-saving temperature limitations. Your tenant can stay comfortable within the reasonable limits of the thermostat and won’t be able to misuse the equipment. The right thermostat can help you reduce save energy and reduce costs while maintaining comfort – all with one simple investment.