Easy Ways to Improve Energy Efficiency in Rental Properties
Energy Efficiency: What Does It Look Like?
A rental property can be made more energy efficient in many ways. The cost of some upgrades may be relatively low, while others may be more expensive. In the long run, however, most efficiency upgrades are worth the money because of the utility savings. In order to determine whether a rental property is energy-efficient, let’s look at what it looks like. Solar panels are one of the most energy-efficient features of most homes.
Solar panels are an excellent way to reduce energy costs significantly. Since solar panels have come a long way in recent years, investing in a solar system for your rental property has become much more cost-effective. Some solar installers may also offer incentives or payment plans that can help reduce your upfront costs. Plus, many states offer a healthy tax deduction for solar energy systems.
Doors and Windows Sealed.
Right now, you can upgrade your rental property by sealing its windows and doors. Poor energy efficiency is often caused by air leaks. Your rental home can be instantly more efficient by simply caulking around door and window frames or adding some weather-stripping.
Replace your windows if your rental property is older and the windows haven’t been updated for a long time (or ever). Due to their double-pane design, new windows are remarkably energy efficient. Besides reducing condensation and moisture damage, new windows can also solve other problems. Depending on the type of window you choose, there may also be a nice tax deduction available to help offset some of the initial cost.
In order for a home to be energy efficient, insulation is essential. Your rental may suffer from problems like frozen pipes, climate control issues, and even shorten the life of your air conditioner without proper insulation in walls, attics, and basements. If you haven’t checked your rental property’s insulation levels in a while, now is a good time to have an inspection done.
Energy Efficient Lighting.
Sometimes, improving energy efficiency can be as easy as changing a light bulb. In fact, switching all of the light bulbs in your rental property to long-lasting LED bulbs could save you both time and money all year. Energy-efficient lighting is designed to stay lit for months or even years, significantly reducing the cost and frequency of replacement.
Improving the energy efficiency of your rental properties may not be difficult, but it will take time and, potentially, an initial investment. With so many ways to create an energy-efficient home, you may not be entirely sure where to start. If that is the case, consider contacting us here at Remax Heritage Bardell Real Estate to learn more.