In order to separate yourself from the competition, you have to offer value. One way of doing so is by helping your tenants save money while living comfortably.
How can you do this as a rental property owner in the Dallas-Fort Worth area?
Invest in energy-efficient upgrades. Making your property energy-efficient adds value to your unit and will ultimately increase your profits.
In this post, we will share 7 tips on how you could lower your property’s energy bills.
1. Install a Smart Thermostat
Our lives are moving faster than ever with the advancement of technology.
Smart thermostats offer convenience and reduce the cost of heating and cooling.
Unlike programmable thermostats, smart thermostats will sense when you are home or away and adjust your home’s temperature accordingly. The technology also allows you to make adjustments to the temperature remotely through your phone.
Finding smart thermostats is easy. They are available at stores like Best Buy or Home Depot. The most expensive models cost approximately $250 and can save users an average of 10-12% on heating and 15% on cooling.
2. Seal Air Leaks
Sealing air leaks is a very cost-effective way of lowering heating and cooling costs.
One of the most common sites for air leaks is around windows and door frames. Take a walk through your property to look at the condition of the caulking and weather stripping around your windows and doors. Replace any worn-out caulking or weather stripping to create an airtight seal around exterior windows and doors.
3. Install Attic Insulation
One of the primary areas for potential heat loss in a home is the attic. Adding insulation in an unfinished attic helps keep the rooms cool in the summer and warm in the winter.
Attic insulation works to prevent air from escaping through your attic. When air escapes, your HVAC system has to work harder to heat or cool your home.
According to the team at Service Experts, a properly insulated attic can save homeowners up to 20% on energy bills.
4. Replace Appliances with Energy Efficient Models
If the appliances in your property are older, it may be worth upgrading them to newer Energy Star certified products. According to Consumer Reports, appliances like refrigerators and dryers have the highest operating costs per year.
New Energy Star certified appliances are appealing to tenants because they use less energy, require less maintenance, and look nice.
5. Switch to LED Lights
Incandescent light has been around for over 100 years but it is time to make the switch to LED lighting. According to the U.S. Department of Energy, Energy Star rated LED lights use 75% less energy and last 25 times longer than incandescent lighting.
White LED lights emulate the look of natural light brightening up rooms to making them more inviting and comfortable.
6. Semi-Annual HVAC Service
To run efficiently, HVAC units need to be serviced regularly. Schedule a semi-annual inspection of your unit to avoid emergency repairs during the hottest and coldest months of the year. A tune-up should include tightening any loose connections, cleaning coils, lubricating parts, and identifying and replacing failing components. Additionally, you will want to make sure to replace any air filters every few months.
7. Replace the Old Windows
If your property has aluminum single-pane windows, it is most definitely time to replace them. While aluminum is a durable window frame material, older single-pane aluminum windows just are not energy-efficient. Upgrading to energy-efficient windows will reduce the strain on your HVAC system.
Today there are lots of energy-efficient options available including window frames made from thermally broken aluminum, vinyl, and other composites. The most popular option today is vinyl windows with high performance insulated glass. Vinyl windows are low-maintenance, have great thermal performance, and are usually the most affordable replacement option.
The Bottom Line
These are just a few of the ways you can lower your property’s energy bills. Choose the methods that make the most sense for your property and budget. Remember, this investment will pay off by attracting tenants willing to pay a premium for the comfort of a green home.
Ariana Martinez is a Product Advocate on the marketing team at Brennan Enterprises. Brennan Enterprises is a family-owned and operated home exterior remodeling company. Since 1979, Brennan Enterprises has helped homeowners across North Texas improve the curb appeal and energy efficiency of their homes. Learn more at BrennanCorp.com.