It’s no surprise that energy costs are on the rise, and that becoming more energy-efficient is on the minds of many, including landlords, tenants, and homeowners alike. After all, who doesn’t want to save money on bills while also helping the environment? Luckily, there are several upgrades, both big and small, that can make a difference. So, read along as we discuss easy ways to make your rentals more energy-efficient.
What Makes a Home Energy Efficient?
A home is considered energy efficient when it uses less energy to perform essential daily functions, like heating, cooling, and appliances, without sacrificing comfort. When it comes to rental properties, this means reducing wasted energy while still maintaining a safe and livable environment for tenants.
More and more people are starting to prioritize making their homes energy-efficient. Not only does it help the environment, but it also helps lower bills and cut down on unnecessary expenses. For landlords or homeowners, some upgrades can also increase your home's value–something Austin, TX property management companies often emphasize to attract eco-conscious renters..
That said, there are several things, big and small, that can make a home energy efficient. For instance, things like proper insulation, double-pane windows, LED lightbulbs, and programmable thermostats all contribute to making energy-efficient rentals.
Benefits of Energy-Efficient Rentals
Making your rental properties more energy-efficient offers benefits for both landlords and tenants. Some of the main advantages include the following.
Lower Utility Costs- Energy-efficient features help reduce electricity, gas, and water bills, which is helpful for tenants and landlords (depending on who pays utilities).
Reduced Operating Expenses- Energy-efficient systems and appliances usually require less maintenance and have longer lifespans, saving landlords money on maintenance and repairs over time.
Increased Property Value- Investing in energy-efficient upgrades can actually increase your property’s value and make it more desirable to tenants. Some tenants may even pay more each month for energy-efficient rentals.
Attracting Eco-Friendly Tenants- More people today are environmentally conscious, meaning that some tenants may specifically seek out homes that align with their values.
Environmental Incentives- Depending on your location and the energy-efficient upgrades you choose for your rental, you may qualify for tax credits, rebates, or utility company incentives.
Easy Ways to Make Your Rental More Energy Efficient
Luckily, there are several easy ways to make your rental property more energy efficient. From switching out the lighting to improving the insulation, these small changes can have a huge impact on your (and your tenants’) long-term savings.
Switch to LED Lighting
Seal Any Air Leaks in the Home
Install Smart Thermostats
Add Low-Flow Water Fixtures
Switch to ENERGY STAR Appliances
Maintain HVAC Systems Regularly
Use Ceiling Fans Strategically
Educate Tenants on How to Save Energy
Switch to LED Lighting
Replacing the lights in your rental with LEDs is one of the best, most cost-effective ways to make your property more energy-efficient. LED light bulbs use significantly less energy than older incandescent bulbs and can last up to 25 times longer. With that, they also produce less heat, making them safer and more efficient for everyday use.
Seal Any Air Leaks in the Home
If there are any noticeable gaps or drafts around windows or doors, you’ll want to seal them up. Gaps in these areas can cause cool air to escape in the summer and warm air to escape in the winter, forcing your HVAC system to work harder. This means either you or your tenant would be paying higher bills. So, sealing any gaps with caulk or weatherstripping helps stabilize temperatures indoors and save on bills.
Install Smart Thermostats
Smart thermostats are a great upgrade because they let tenants set their preferred heating and cooling settings from anywhere. Most models can be controlled by smartphones and can help suggest ways to make your home more energy-efficient. For instance, tenants can set different temperatures for when they’re home vs. away, and it helps reduce energy waste and lower bills.
Add Low-Flow Water Fixtures
Low-flow showerheads, faucets, and toilets significantly reduce water usage, which, in turn, lowers the energy needed to heat water. This can save tenants tons of money on water bills. Not only are they affordable and easy to install, but they can often pay for themselves in utility savings.
Switch to ENERGY STAR Appliances
ENERGY STAR-certified appliances use less energy and water while still performing great. So, if it’s time to upgrade any of the appliances in your rental property, replace them with energy-efficient ones that last longer and reduce utility costs. Whether it’s a refrigerator, dishwasher, or washer and dryer, opting for ENERGY STAR appliances can help your rental stand out.
Maintain HVAC Systems Regularly
Regular HVAC maintenance is essential in rental properties. Neglecting this area of your property can be detrimental to you or your tenants' energy bills. After all, a well-maintained HVAC system uses less energy and keeps tenants more comfortable. So, make sure you change filters every 1 to 3 months and schedule annual inspections to ensure everything runs smoothly.
Use Ceiling Fans Strategically
One of the easiest ways to save energy in your rental is by switching the direction of your ceiling fans. Ceiling fans help circulate air and can reduce your reliance on heating and cooling systems. So, in the summer, fans should rotate counterclockwise to create a breeze, and in the winter, they should be switched to push warm air down. While it may seem insignificant, this simple trick can make a big difference in energy costs.
Educate Tenants on How to Save Energy
Even if you’ve made efforts as a landlord to make your property more energy-efficient, if your tenants don’t know how to use it mindfully. So, if sustainability is a priority for you, give your tenants tips on how to save energy while living in your rental. For instance, you may encourage them to turn off lights when not in use, set thermostats to a moderate setting, and use water appropriately.
Make Your Rental Stand Out With Stone Oak
These days, energy-efficient rentals stand out in a competitive market–and tenants are paying attention. With the help of professional property management, you can effectively market your rental to showcase your eco-friendly features.
If you’re looking to work with professional management to help you market rentals, find and screen tenants, and stay on top of maintenance, look no further than Stone Oak. Our team of reliable property managers can help you with all the day-to-day tasks of owning a rental. Contact us today to learn more!
