Whether you rent or own rental properties, energy efficiency is an important consideration. If you pay for any aspect of the utilities, then inefficiency can reduce your profits or lead to a higher cost of living. One of the advantages that a property management company like Keyrenter Tooele can provide you is helping you optimize efficiency in a structured manner rather than all at once or falling behind.
1. Achieve Big Improvements through Small Changes
Keep in mind that you don’t have to spend a lot or make big changes in order to have a dramatic effect in overall efficiency. For instance, outlets and switches are a common source of drafts, and you can install insulating gaskets for pennies per unit. Another good idea is to install a programmable thermostat so that you can avoid overheating or overcooling when you or the renter aren’t home.
2. Caulk Windows and Doors Seasonally as Needed
Another area where you tend to lose heat and cooled air is in the seals around windows and doors. Check these seals on a seasonal basis and replace any that need it. Caulk is inexpensive and can be applied quickly. Even if you need a contractor, it shouldn’t cost much or take long.
3. Check the Water Heater
If you’re a renter, then set the water to the lowest setting that’s comfortable. Anything higher is wasting money. As a rental owner, it might be a good idea to reset the water heater with each new tenant. Let the tenant choose to set it higher, which is particularly important if you pay for the heat.
4. Inspect Insulation and Replace as Necessary
Insulation doesn’t last forever, but it does last for a long time. Nevertheless, it’s a good to have a professional inspect insulation every ten years or so. Certain scenarios can cause insulation to degrade, and heating and cooling costs can rise dramatically if that occurs. In fact, if you do have an insulation problem, new insulation is probably the biggest and most cost-effective upgrade you can make.
5. Make Big Upgrades Only When It’s Sensible Long-Term
As a renter, don’t replace a water heater or similar appliance just to install a more efficient option. Sure, it can make a big difference for you or the renter over the short-term, but those kind of decisions aren’t sound over the long-term. No home will ever have ideal efficiency. Strike a balance instead.