Owning a rental property in Orlando or Central Florida can be a profitable investment. However, to succeed as a real estate investor or rental property owner, you always need to consider overlooked items such as energy-saving tips.
It is also essential for a tenant seeking a rental home in Orlando or Central Florida to choose an efficient rental property and reduce the amount of energy usage every month.
In this topic, we’ll provide simple tips for rental owners and renters looking for insightful guidance for saving money each month. Are you ready to have an efficient Orlando rental property?
Why An Energy Efficient Orlando Rental Property?
Many rental property owners in Orlando, Florida, would argue, “why do I need an energy-efficient rental property?” Because of Global Warming – Duh! But seriously, each rental property is wired differently regarding utilities and how they are connected. Some rental properties in Orlando will have utilities included, and some may not. Own a rental property in an HOA? Well, make sure before you buy a rental property in Orlando, Florida, to check if any utilities are included or required in the monthly or quarterly HOA dues.
An energy-efficient rental property is highly beneficial for leasing your rental home in Orlando. As a property manager in Central Florida, we have seen energy-efficient homes added to prospective renters.
Energy-Efficient Items To Replace or Add To Your Orlando Rental Property:
There are simple ways to turn your energy hog rental property into an energy-efficient workhorse. These easy and cost-effective items can aid in turning your Orlando rental property into an energy-efficient rental home:
1. Energy Efficient Appliances
Rental properties can become saving machines by adding energy-efficient appliances. When you are purchasing the new kitchen appliances, you’ll want to consider Energy Star appliances. You’ll want to find appliances that have the EnergyStar sticker.
According to SaveOnEnergy, “Energy Star saves you on average between 10%-50% of the energy required.” Suppose you own a rental property or have a rental property professionally managed by an Orlando property management company. In that case, it may be beneficial to change out the appliances with Energy Star appliances.
2. Update Electrical Panel
If you own an older Central Florida rental property, replacing your outdated electrical panel will help reduce electricity bills. Rental property circuit breakers on average should be replaced every 25 to 40 years. If your Orlando, Florida rental property has an original electrical panel, updating this will lower electrical usage.
3. Lighting & Light Fixtures
Saving on energy for your rental property really can be as simple as replacing lightbulbs with LED lightbulbs. According to Energy.Gov, lighting accounts for around 15% of a rental property’s electricity usage.
Switching to LED energy-efficient light bulbs on average can save you around $225/year. However, as a professional property management company in Orlando, Florida, we frequently see rental property owners using old and outdated lighting.
If you own a short-term rental property in Orlando, Florida, changing your light fixtures and lightbulbs throughout your rental property is extremely important because you are the one responsible for paying the electricity bills.
4. Thermostat & Air Conditioning
Florida is a sunshine state, so having an efficient cooling system can aid in an energy-efficient rental property. In addition, if your Orlando rental home currently has an air conditioning system for over 10+ years, a new cooling system will certainly help with your tenant’s utility bills.
Programmable thermostats can help make your rental property in Central Florida an efficient smart home. You can set your thermostat on a pre-set schedule, meaning if you go to work, the system will automatically change to your desired temperature.
New energy-saving windows will be more expensive than some of the other items mentioned above, but this can be extremely important in keeping and saving on your rental property energy costs. According to Modernize Home Services, the average price for energy-efficient windows is between $325-$785 per window.
In the Orlando and Central Florida area, there are numerous different types of rental properties. As a rental property manager servicing the greater Orlando area, we have seen that most older homes are in the Downtown Orlando area.
Looking For A New Rental Home in Orlando or Central Florida?
As a renter in the Central Florida area looking for a new place to live, it is essential to not only find your dream home but don’t forget to ask the landlord or Orlando property manager what the average cost for utilities is for that particular rental property.
As a rental property management company, we have seen tenants move into an Orlando rental property and regret their decision because they didn’t budget monthly utility costs.
In the Central Florida area, you can typically find out the average utility bill for a particular rental property. For example, suppose the home is with Duke Energy, Orlando Utilities Commission, or Orange County Water. In that case, you can contact them with the property address, and they will provide you with the average cost for utilities for that particular rental home.
Property Managers: Energy Saving Tips for Tenants
Whether in an Orlando apartment or a single-family rental home, it is effortless to be energy conscious and reduce your electricity and water bills. Simple tips to save tenants money on energy bills are:
- Unplug electrical items that are not in use
- Set refrigerator temp to between 36-39 degrees
- Set freezer to 0-5 degrees
- Set your thermostat to 78 degrees (setting your thermostat to 70 degrees vs. 78 degrees can double your energy bill)
- Replace lightbulbs with LED EnergyStar bulbs
- Turn off the water when you are not using it (brushing teeth or shaving)
- Use energy-efficient appliances
- Wash full loads when washing clothes
- Replace air filters frequently
These simple energy-saving tips can reduce your energy usage and result in lower costs every month.
Why Use An Orlando Property Management Company?
If you want an efficient Orlando rental property, you may consider hiring a property management company in Orlando, Fl. Not only will Orlando property managers tell you energy-efficient rental property tips, but they will also manage your rental property to perfection.
Orlando Property managers will provide insightful tips on managing the property from the start effectively. If you need to renovate or upgrade your rental property in Orlando, Florida, your property manager will tell you areas that will boost your rental income.
Property Management Conclusion:
Rental property owners and tenants in Orlando and Central Florida can benefit from these simple and cost-effective saving strategies for their rental homes. Whether you implement one of these energy-saving tips or all of them, your energy bills and wallet will thank you.
As one of the trusted and highest-rated Orlando property management companies, we enjoy connecting and educating rental property owners and tenants. If you have any questions about the simple ways you can save on your rental property energy bills, feel free to Contact Us. Cheers!