5 Ways To Lower Rental Property Heating Costs
Whether you or your tenants are paying the heating bills, it’s a significant expense; heating accounts for about 42 percent of our energy consumption. With winter approaching, it will benefit you to think ahead. Here are five ways to lower rental property heating costs for everyone from Keepe the maintenance company.
No. 1 – Have Your Furnace Cleaned and Checked
Regular maintenance is a simple step that can lower energy needs and utility bills.
When your furnace is running at its best, it can save you money every month, and it will continue operating longer without needing expensive repairs. Check for soot, rust, and corrosion in, on and around the furnace and on the floor surrounding it and the flue. These indicate the system requires immediate service.
Getting tenants to change the air filter every month is a challenge, but it will save them money and save you maintenance costs.
No. 2 – Turn Down the Temperature
The U.S. Energy Department says that setting the thermostat to 68 degrees when tenants are home and awake, and lowering it when they’re away or sleeping, saves money. This may be harder to do in the time of the pandemic, as many people are working from home.
Lowering the thermostat seven to 10 degrees for eight hours daily from its normal setting can save as much as 10 percent a year, on average, depending on your location.
No. 3 – Get Smart with Your Thermostat
The thermostat is a valve between your energy supplier and lower rental property heating costs.
For every degree it is turned down, you use as much as two percent less heating energy. A 10-degree setback overnight cuts the heating bill by up to 10 percent. More importantly, you can switch to a smart programmable thermostat, which saves energy without you even thinking about it.
Adjust the settings to turn down the temperature to fit your lifestyle. When programming, keep in mind that it may take as little as 15 minutes to heat your home to a comfortable level.
No. 4 – Stop the Drafts
Warm air leaking out of your rental property can be responsible for about 20 percent of heating costs, according to the Department of Energy.
The irony is that this problem could easily be fixed after a quick shopping trip to the local hardware store; weather stripping for doors can cost less than $15 and is easy to install.
Don’t forget the windows, which are another big source of drafts. There are a variety of solutions –from hot-air-sealed window plastic to window films and window shades – that could fit your needs. Be careful, though, because sunlight filtering through your windows can actually provide heating benefits.
No. 5 – Wrap the Water Heater
While you’re at it, give the water heater or water tank a hug by wrapping it in an insulation blanket.
An insulating blanket on the water heater and insulating wraps on your hot-water pipes prevents them from losing heat to the outside air. It helps you save energy and money, and you won’t have to wait as long for the water to get hot at the faucet.
Lower rental property heating costs conclusion
There are several ways to reduce your rental property heating and lower heating costs during the winter season. From conducting regular maintenance to adopting an energy-saving lifestyle, you are guaranteed of a lower monthly energy cost.
You can also hire the services of an energy auditor to help you discover new ways to reduce heating costs in your property.