When you invest in your property’s energy efficiency, you are telling your tenants you care about the property. Listing energy efficient upgrades increases the number of higher quality tenant prospects for your property.
Low-Cost Energy Upgrades
By Pierre Mouchette | Real Property Experts LLC
There is a dual benefit with investing in energy-efficient upgrades, both environmentally and economically. When you invest in your property’s energy efficiency, you tell your tenants you care about the property. Listing energy-efficient upgrades (and featuring them in amazing photos) increases the number of higher-quality tenant prospects for your property and increases your ability to raise the rent.
The following are some easy items to implement and reduce both you and your tenants’ energy bills and increase the value of your property.
Seal Doors and Windows - if your investment properties are older than twenty years, there are most likely a lot of gaps in the doors and windows. Perform a thorough inspection of the doors and windows and reseal any places where there is a gap. This inspection should always be done in the daytime when visibility is better. A simple and inexpensive window insulator kit will do wonders for reducing utility bills.
Insulate Attics and Basements - this will provide a substantial return for the dollars invested. In insulating the basement ceiling, you will help keep the first-floor warmer or cooler depending on the season. When you insulate the attic space will help retain heat in the house during the winter months (heat rises) and the cool in the summer from the heat generated by roof absorption.
Change the Water Heater Thermostat - people generally do not take long hot showers and baths during warm weather! Turning the thermostat down to 100 - 120 degrees (typically set to 140 degrees) will save on the utility bill.
Change Light bulbs - energy-efficient light bulbs such as halogen incandescent, compact fluorescent lamps (CFLs), and light-emitting diodes (LED's) can reduce energy costs, and they last longer than traditional bulbs. The Department of Energy states that the new efficient light bulbs use 25 to 80 percent less energy than conventional incandescent light bulbs and last 3 to 25 times longer.
Use these light bulbs in all common areas.