Property Management 6 Ways to Save on Utilities for Your Rentals in the Winter by Rae Steinbach January 31, 2019February 11, 2019 by Rae Steinbach January 31, 2019February 11, 2019 As a landlord, the winter brings many challenges. From taking measures for preventing slip and fall injuries to ensuring pipes and heating systems in your rentals last through the season, it can be a busy time for property owners. Additionally, you probably know utility bills can go up during winter. Tenants simply need to keep warm. That means running the furnace more often. Additionally, you’re going to need to turn on outdoor lights earlier to compensate for dark winter nights. This drives up electric bills. That doesn’t mean you need to pay more than you can afford on your rentals this season. There are plenty of ways to ensure utility bills stay reasonable during winter. The following tips will help. Maintain the HVAC System in Your Rentals Performing basic maintenance can significantly boost your HVAC system’s efficiency. Make a point of checking your HVAC filters regularly, and replace them when debris builds up. Clogged filters block the flow of air. As a result, your system will need to use more energy to keep the building warm. It’s also smart to schedule an inspection before winter. Doing so gives you the opportunity to address any other issues that may reduce the system’s efficiency before minor problems result in major bills. Caulk & Seal Make sure the caulking and weatherstripping on all doors and windows is tight. Taking the time to re-caulk and apply new weatherstripping helps to prevent cold air from getting into the building. Thus, units will be better sealed and tenants will feel less need to run the heat in your rentals. It’s also important to check the building for any cracks. Seal all cracks you find to keep drafts out. Upgrade Your Thermostat You can’t exactly control how your tenants use the heating system in their units. However, your rental properties almost certainly have common areas. Upgrading to a programmable thermostat in these areas lets you reduce energy usage. Instead of manually adjusting the temperature, you can set thermostats to adjust automatically. Doing so could reduce your energy bills by as much as 10% over the course of a year. Install Proper Lighting Obviously, it’s important for walkways, stairwells, parking lots, and other frequently-used areas to be well-lit during winter nights. That said, there will also be areas of your property where the outside lights don’t need to be left on all the time. Installing automatic lights, which turn on only when someone is nearby, helps reduce your energy usage. Check Your Insulation Always check the insulation of your investment properties early in winter to confirm it’s still in good shape. If not, replace it. Doing so is worth the minor amount of time and money involved. In the long run, keeping your rental property insulated helps you use significantly less energy than you would otherwise. Check Appliances in Your Rental Old appliances often don’t run as efficiently as new ones. You could save a lot of money on bills by upgrading to a new furnace, for instance. Research your options, determine how close your current appliances are to breaking down entirely, and consider swapping them out for new ones. These basic steps will help you substantially reduce bills for your rentals during winter. By keeping bills low, you can make your investment property much more attractive to tenants by charging lower rent, adding key amenities, and making needed improvements. As a result, you won’t just save money; you’ll make even more. If you are looking for lucrative traditional and Airbnb properties to start a real estate investing business or to expand your investment portfolio, sign up for a free trial with Mashvisor now. This article has been contributed by Rae Steinbach. Start Your Investment Property Search! START FREE TRIAL CostsGuest BlogsLandlordRenting OutTechnology 0 FacebookTwitterGoogle +PinterestLinkedin Rae Steinbach Rae is a graduate of Tufts University with a combined International Relations and Chinese degree. After spending time living and working abroad in China, she returned to NYC to pursue her career and continue curating quality content. Rae is passionate about travel, food, and writing, of course. Previous Post 4 Tips to Help You Always Find Cash Flow Real Estate Investments Next Post Getting Started in 2019: How to Learn About Real Estate Investing Related Posts Zillow Rentals: How Does It Work for Real Estate Investors? 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