Are you considering giving your Tucson rental properties more energy-efficient upgrades? Several upgrades can help reduce the amount of energy these homes use — but are they worth the time, effort, and cost? Yes, energy-efficient upgrades can provide you with multiple advantages! Let’s take a closer look at the benefits these home improvement projects have for rental property owners.
What Are Common Energy-Efficient Upgrades?
You have a lot of options to consider for improving your rental home’s energy efficiency. Some of the more common kinds for Tucson property owners include:
- Smart or programmable thermostats
- ENERGY STAR appliances, such as refrigerators and washing machines
- ENERGY STAR heating and cooling equipment
- Low-flow bathroom fixtures, including toilets, faucets, and shower heads
- Double-pane windows with low-E coatings
- Solar panels
- LED light bulbs
Easier Time Attracting New Tenants
Whether you switch out light bulbs or invest in a whole solar panel system and new appliances, making these eco-friendly changes can help you find new tenants. These upgrades mean that tenants can expect to pay lower energy bills, helping them save money each month. Make sure to highlight any upgrades you make in your listings.
Greater Tenant Satisfaction
If you have existing tenants, they’re more likely to stay longer when you make their home more energy efficient. This helps them reduce monthly utility bills. They’ll also appreciate having brand new appliances or fixtures to use. Having tenants stay long-term saves you from having to list your rental and find and screen new tenants.
Improved Comfort for Tenants
Tucson’s hot weather can make it hard for older HVAC equipment to properly cool home interiors. Getting new HVAC equipment that’s more energy efficient helps make your rental properties more comfortable for tenants. Upgrading windows and doors also helps improve indoor comfort.
Higher Property Value
Thinking of selling your rental properties? Even if you’re not ready to do so yet, note that making them more energy efficient helps boost property values. Homes with these kinds of features are more attractive to potential home buyers.
Lower Energy Bills
Do you include utility bills in the rent you charge tenants? Energy-efficient upgrades can help you bring those costs down, allowing you to save more money each month to use toward maintenance and repairs. If your tenants are the ones paying the utility bills, they’ll get to enjoy making lower payments month after month.
Tips for Choosing Upgrades
How do you know which ones to do? To make this decision:
- Schedule an energy audit to see which parts of the home waste the most energy
- Compare quotes and choose projects that fit your budget
- Replace aging appliances, fixtures, windows, and doors
Find Energy-Efficient Properties or Property Management Services in Tucson
Looking for a rental home that helps you save money on utility bills? Or do you need help managing your property? Our team at Bancroft and Associates is here to assist you! Browse available properties to rent, or get in touch with us for more details on our property management services.
Sources:
https://www.energystar.gov/products/energy_star_home_upgrade
https://www.energy.gov/save/home-upgrades
https://www.energy.gov/energysaver/why-energy-efficiency-matters