Making your rental property more energy-efficient can lower energy bills, optimize functionality of major systems, improve comfort and create a healthier living environment for your renters. It can also help property owners by reducing operating expenses, including heating, cooling, lighting, and other systems, especially when utilities are included in the monthly rent.
Energy-efficient updates to a rental unit are very appealing selling points when advertising a vacancy to interested tenants. Let’s explore strategies and updates to make a rental unit more energy-efficient, benefiting both owners and renters.
Choose Energy-Efficient Appliances
If energy efficiency is the goal, start in the room that uses its fair share of energy – the kitchen. Appliances such as stoves, refrigerators, dishwashers, and even smaller appliances like microwaves, coffee makers, and blenders use energy, too!
When it’s time to replace the kitchen appliances in your rental unit, consider ENERGY STAR appliances with the blue label to ensure they meet high energy-efficiency standards. If replacements are not possible, be sure to have regular maintenance on the appliances to ensure they are operating well and not wasting energy. Additionally, encourage your renters to adopt energy-efficient practices, such as running the dishwasher only when it is full, covering pots and pans when cooking, and keeping the refrigerator door open only as long as needed.
Get Serious About Weatherizing and Insulation
Heat loss during winter can lead to higher-than-needed utility bills. Consider using door sweeps, adding sealant or caulk to windows and exploring if your unit needs added insulation to keep the heat in during the winter and out during the summer months.
A No-Cost Energy Assessment through MassSave can help property managers and homeowners alike identify where insulation could reduce air leaks and what steps can be taken to make the unit or home more energy efficient.
Install Smart Thermostat
Installing a programmable thermostat that allows renters to set the heating and air conditioning schedule is a simple way to make rental units more energy-efficient. Renters appreciate smart thermostats because they know that a large portion of their utility bill goes toward heating and cooling their spaces. The ability to preset the furnace’s on/off schedule means not only a cozy apartment upon returning home after a long workday, but also lower monthly heating bills.
Install Low-Flow Faucet and Showerheads
According to Unitil, a public utility company in Maine, New Hampshire and Massachusetts, installing low-flow faucets and shower heads is an inexpensive fix that could save renters up to 30 percent on their water bill and as much as 40 percent on the energy costs to heat that water.
Encourage Community Energy Efficiency
A final step property management companies can take within their rental communities or HOAs, is to encourage members to use electricity, natural gas, and water efficiently. For more information on actionable ways to make your rental community more energy efficient, contact Thayer & Associates.