When winter comes around, everyone has an eye on saving money. After all, you end up spending a lot more time indoors. This means you have to spend more on utility bills on things like heating and electricity. If you have a rental property that includes utilities in the rental price, this could be substantial and it could majorly impact your bottom line. Keep major boiler costs to a minimum with Corgihomeplan.
While everyone has likely heard about how effective switching to energy-efficient appliances can be in saving money, not everyone has the cash upfront to pay for major appliance replacements. So regardless if your rental properties include utilities or not, you can leverage these tips to save both you and your tenant’s money right now.
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1. Stick To Using Electricity During Non-Peak Hours
A lot of utility/energy companies will have a price structure that is centered around when the electricity is being used. They will typically segment it into three different periods including; peak, mid-peak, and off-peak hours. Thus, the rates charged will depend on the season and the amount of demand. For a lot of areas, peak hours can be nearly two times the price of non-peak hours.
This would make it a very good opportunity for tenants to save big by switching their primary electricity use to off-peak hours. You can show them the provider’s website where they can get real-time updates on the hours and rates. They can even sign up for email or text alerts that will give them the same information. This could be a good way for you to keep them abreast of the savings they could be incurring with simple adjustments.
2. Install Shades
Believe it or not, windows are the number one cause of unwanted heat loss in the home. This is coming from the United States Department Of Energy’s Energy Saver Guide. However, there are ways around this and some of them don’t have to be expensive.
To minimize heat loss from windows, you can do the following:
– Caulk and seal all of your windows. Installing weather stripping can be a good way to affordably seal everything nice and tight.
– Install shades and/or thermal curtains on the windows. This can help to minimize heat loss as they act as another layer of insulation.
3. Use Your Windows Wisely
In the winter, you don’t necessarily always want your shades closed. Winter is a time to be smart and use the sun to your advantage. While you want to keep the shades down when your heat is blasting, you want to open up the shades when the sun is out. Open the shades throughout the day and you can allow natural light into your home and it can allow the sun to help heat your home too.
4. Check The Temperature Of Your Fridge
Your fridge likely has multiple temperature settings. However, some of the colder settings aren’t going to be necessary when you are trying to keep your food chilled. It’s best to keep your fridge anywhere from 35 degrees to 41 degrees. Whereas, you’ll want to keep your freezer around -0.4 Fahrenheit. If you do set your fridge or freezer lower, you are likely only wasting more energy than you could be saving.
5. Turn Down Your Water Heater
There are a lot of water heater systems that will heat your water over 140 degrees Fahrenheit. While this is nice to know, it’s completely unnecessary. When would you need to heat your water this much? Not only is it unnecessary, but it can be unsafe. After all, it could burn someone in your home. Rather than using the highest setting, turn things down and set it at 120 degrees Fahrenheit instead. This is plenty hot enough and it can help you save as much as 8 percent on your water heating annually.
6. Install More Efficient Shower Heads
Your shower likely gets a lot of use. If you take long showers, you could experience massive savings by switching out your shower head for one that is more efficient. Install a low-flowing shower head that features a shut-off valve and you can start to experience massive water savings without the guilt that comes with taking your long showers. With the valve, you can shut off the water while you are scrubbing your body and shampooing your hair. It’s generally going to cut your water bill by as much as 30 percent in total and your water heating bills by as much as 30-40 percent because you won’t be having to constantly readjust the temperature throughout your showers.
7. Don’t Drain Right After Baths
If you are going to take a bath, you are spending money on heating all of that water. The heat from that water can prove to be useful in the winter. Allow it to sit in your tub and warm your home as it evaporates. Simply drain it once it’s cooled down enough. While this may seem like a strange tip to pass on to those renting from you, it’s a tip that can save them money!