October 30, 2017

Every sensible landlord or property manager looks for different ways to save up on bills. Just a few simple changes can make the property more financially efficient. How to save up on electricity? One of the most common concerns for many landlords or property managers is how to save up on energy and you can do it easily with these simple tips and tricks.

Switch to energy-efficient light bulbs

Did you know that lighting accounts for 10 percent of home energy costs? Just replacing incandescent light bulbs with an energy-efficient alternative helps save 75 percent of that energy. The best option to save money on the electricity bills is to install LEDs, compact fluorescent lamps, and halogen incandescent light bulbs (more durable and efficient than standard incandescent bulbs).

In addition, energy-efficient light bulbs are more versatile in terms of size, light, and color. Not only can landlords and property managers save up on electricity, but they can also set the right mood throughout the property with different light bulbs.

Water-saving showerheads

It’s simple; showerheads that use too much water also increase water heating needs and boost the electricity bill. According to the experts from ProEssayWriting, we should think about efficiency in everything we do. This also includes the choice of a showerhead on your property.

Low-flow showerheads use less water than conventional options. As a result, they help you cut electricity costs. It’s that simple. Before you start thinking tenants would hate low-flow showerheads due to weak pressure, bear in mind that they force water fast. Basically, a person who’s taking the shower has almost the same experience as they would with a conventional shower head, but your electricity bill will see the difference.

Seal doors and windows

Doors and windows tend to have small cracks or holes that only boost energy spending, especially in winter. In order to boost the energy-saving efforts, consider sealing windows and doors with spray foam, caulk, or weather stripping. This is the easiest way to save big on heating and cooling bills. According to the EPA, adequately weatherizing buildings can save up to 20 percent on heating and cooling bills and 10 percent on the overall energy bill.

Insulate the heating system

Space cooling and heating systems distribute heat throughout buildings through pipes or ductwork. Uninsulated pipes induce a major heat loss meaning you end up paying more for energy costs. A quick way around this problem is to insulate the heating system reduces heat loss and benefits your wallet.

Energy Star equipment

This isn’t the cheapest solution, but it pays off in the long run. Appliances with the Energy Star rating are up to 50 percent more efficient than “regular” ones. Even though you may not supply tenants with all appliances they’ll use, getting one or two appliances with the Energy Star label can help save money and cut the energy costs. Plus, the property would also be more appealing to eco-conscious tenants.

Analyze utility expenses

As a property manager or a landlord, you’re trying to be involved and improve the property’s value, make it more financially efficient, and decrease unnecessary costs. A great way to achieve your goals is to carefully analyze different factors such as monthly spending. Use the tool of your choice, from paper to Excel sheet, but try to keep the log of electricity bills you receive every month. Write them down in the same list and try to analyze and compare bills. Why is this important? The regular analysis will help you identify strengths and weaknesses that you can use to adapt your electricity-saving efforts.

You can also

  • Lower heating and cooling bills by replacing exhaust fans in bathrooms and kitchen with more efficient models
  • Invest in programmable thermostats
  • Swap T12 fixtures for T8 bulbs
  • Install high energy-efficient air conditioners
  • Communicate with your tenants, make energy efficiency a team effort

Other things to know

  • Programmable thermostats can help save $150 a year, especially if you opt for the one that automatically turns off the cooling system when you’re not at home or turn it on when you’re supposed to arrive
  • Leaving the computer turned on all day costs 21 cents per day or $75 annually
  • Properly placed landscaping around the house can help save between $100 and $250 each year
  • More than $13 billion (or $150 per family) worth of energy leaks from the houses through small holes and cracks
  • Energy wasters like poor insulation and inefficient appliances cost US consumers approximate $300 billion a year, more than the military budget

Bottom line

In order to decrease the costs and reduce the electricity bill, it’s important to make simple changes. Just replacing light bulbs or some appliances helps save up on electricity, especially in the long run.

About the Author: Lucy Benton is a marketing specialist, business consultant and helps people to turn their dreams into a profitable business. Now she is writing for marketing and business resources. Also, Lucy has her own blog ProWritingPartner where you can check her last publications. If you’re interested in working with Lucy, you can find her on FaceBook and Twitter.

If you liked this article, subscribe to Rentometer's email newsletter to stay up-to-date on the latest trends in rental housing.