America is the number one polluter and biggest contributor to global warming. We emit more fossil fuels into the atmosphere than any other country in the world! Going "green" has never been more important for Americans, considering how far behind we are and how little time we have before global warming could turn into a serious problem. The question is where do we start? Answer: sustainable living. Changing little things around the house of everyday use can drastically reduce our impact on the environment. According to an article by McKinsey & Company "Curbing Global Energy Demand Growth", the residential sector is the single largest energy consumer worldwide, accounting the 25% of the global demand. As landlords and property managers, it is our responsibility to make sure our rental properties are environmentally friendly to encourage sustainable living. Here are a few ways to not only help save on energy bills, but increase the value of your property, attract and retain tenants, and progress in the fight against global warming for years to come.
•· Insulate your home. The University of Harvard did a study that showed there are over 46 million under insulated homes in the United States. Heating and cooling consumes the most energy in residential properties. A poorly insulated home could cost up to 34% more in heating expenses. How do you know if your property is under insulated? The best way to find out is to hire a licensed inspector to complete an energy audit. They can tell you if your home needs more insulation and where the most energy is being lost. Insulation is a cheap, easy, and efficient way to save money and reduce energy consumption.
•· Florescent lighting. Incandescent light bulbs are slowly becoming a thing of the past. Compact florescent light bulbs last ten times longer and consume two thirds less energy than a normal incandescent light bulb. So how much of an impact could changing a light bulb actually have? The U.S. Environmental Protection Agency says that if every American changed five light bulbs in their home to fluorescent light it would make an incredible difference. Each household would save up to $60 a year and keep around one trillion pounds of greenhouse gases out of the air!
•· Apply weather stripping to doors and windows. Leaky windows and doors have the same affect as a poorly insulated home. When energy escapes, the home is more expensive to heat or cool. By simply applying weather strips, you will trap more energy in the home making it less expensive and more comfortable for living.
However insignificant these three things may seem in the short run, it adds up in the long run. The value of your property will go up, tenants will be more satisfied, and you will be doing your part in putting a stop to greenhouse gas emissions and encouraging sustainable living. For more professional advice on how to save money on your rental properties, click HERE
Comments(2)