Energy Audits and Your Rental Property

Advancements in residential construction technology have created an ever-increasing demand for energy-efficient homes. As more homeowners and property managers upgrade their homes to harness energy as efficiently as possible, more renters are looking for properties that can achieve it. As a property management company, there is a lot that can be done to improve the energy efficiency of your rental homes and attract quality tenants. However, the first step toward achieving an energy-efficient rental property is to conduct an energy audit of the property.

An energy audit is a detailed assessment of the energy needs and efficiency of a home or property. While completing an energy audit on your own is possible, it is recommended that you hire a professional through a property management company. The end result of an audit should reflect a detailed list of items that, if fixed or upgraded, will significantly increase the energy efficiency of a home.

A good example of something to look for in an energy audit is air leakage. If air just so happens to be leaking at certain points in your home, it could have drastic effects on how hard your air conditioning will need to work depending on the time of year. Air leakage can occur in a plethora of places throughout your property. Windows, doors, fireplaces, pipes, and poor wiring can all cause air to leak inside of your home. Other common sources of air leaks can be found around electrical outlets, switch plates, and baseboards.

Air leakage aside, other items in and around your home can cause your energy bills to increase. Most notably, appliances such as refrigerators, washers, dryers, and HVAC units can suck up large amounts of energy in a hurry. More importantly though, as appliances and HVAC units begin to age, they can become a heavy anchor on a property’s efficiency. Luckily for property managers everywhere, new advances in appliances and HVAC systems mean that most newer models are designed with energy efficiency in mind.

Once you have completed your energy audit, it’s important to lay out a budget and timeline for renovation. Among the most important considerations are taking care of items that are dragging your energy efficiency, a cost/benefit analysis on other items, and how durable items that need to be upgraded are. 

Regular energy audits are essential to rental home maintenance. As technologies advance and renter demands change, so too must the degree of energy efficiency a rental home has to offer. While it is possible to do an energy audit yourself, you may miss something important in the process due to lack of familiarity. A professional appointed by your property management company will have the experience to check every last potential energy problem. For more information regarding the property management industry, or if you are interested in investing in a property yourself, contact Premier Business Investments today!