3 Ways to Make Your Rental Property More Energy Efficient
Everyone wants to make their rental properties more energy efficient. After all, this increases the value of the building and makes tenants more eager to apply. You may even be able to increase your rental rate by making the right improvements. However, the trick is knowing which quick and easy upgrades are the most effective.
Coakley Realty can help to improve your rental property’s energy efficiency and comfort levels. Then, we can help you set a fair rental rate to attract tenants and maximize your investment.
Improve Heating & Cooling Efficiency
The most substantial utility bills your tenant pays are for heating and cooling. You can help to improve energy efficiency to keep these costs down by following some of the following tips:
- Seal leaky windows and doors to keep drafts out. Use caulk for stationary joints and weather stripping for operable joints.
- If the property has single-pane windows, replace them with double-pane versions.
- Install gaskets in outlets and light switches located on exterior walls.
- Add insulation to the attic to keep heated and cooled air inside.
- Install a programmable thermostat that your tenants can use to program energy-saving setback periods while away or sleeping.
- Plant shrubs a few feet from the property’s foundation to serve as windbreakers.
- Replace the furnace filter every one to three months as a courtesy to your tenant.
- Schedule preventative maintenance for the furnace and air conditioner once a year as a courtesy to your tenant.
Improve Lighting & Electrical Efficiency
After heating and cooling, lighting and other electrical devices are the next highest utility cost for most renters. Help your tenants save energy by making these improvements to your property:
- Replace incandescent light bulbs with more efficient and longer lasting CFLs or LEDs.
- Put outdoor lights on automatic timers.
- Install skylights to allow more natural light to enter.
- Install high-efficiency appliances in the kitchen and laundry room to decrease energy consumption.
Improve Water & Water Heating Efficiency
Water and water heating are also substantial monthly utility costs. With these suggestions to make your rental property more energy efficient, your tenants will save money each month:
- Put in aerated showerheads and faucets.
- Install low-flow toilets.
- Insulate the water heater storage tank or install a high-efficiency tankless water heater.
Rental Property Services in MD, DC & VA
Whether you need help upgrading your rental property during a vacancy period, or you want assistance keeping up with building maintenance efforts to improve efficiency—Coakley Realty can help. We offer residential property management services that include keeping your property in top condition to make it competitive with other rentals in the region.
Let Coakley Realty eliminate the headache of owning and managing a rental property in MD, DC, or VA. Contact us online or call us at 301-340-8700 to talk with a property manager about ways to make your rental property more energy efficient today!