If you own a rental property or are in the process of purchasing or upgrading one chances are you have thought about replacing appliances. Whether an older unit has failed or the property is in need of some refreshing, new appliances are a way to add value to a property. There are also significant savings to be had by using Energy Star appliances in your property. Today I would like to take a look at these savings for Park City property management.
What is Energy Star?
I'm sure most of us have heard of energy star appliances or are even familiar with the sticker that is found on certfied appliances. The program is overseen by the Environmental Protection Agency (EPA) and is set up as a "voluntary program to identify and promote energy–efficient products
and buildings in order to reduce energy consumption, improve energy security, and reduce pollution through voluntary labeling of or other forms of communication about products and buildings that meet the highest energy efficiency standards." Products such as washers, stoves, and refridgerators that carry the energy star logo have to undergo third party testing at laboritories certified by the EPA to perform energy star testing. Products that become certified are also subject to "off-the-shelf" testing every year. This testing is to ensure that any potential changes in manufacturing or producing a product do not reduce the energy efficiency of the product for the end consumer. Homes, commercial buildings, and industrial plants can also receive the energy star designation through a rigorous evaluation and approval process. Many common appliances are available with an energy star designation and these can have a very useful impact for Park City property management operations.
Savings By Appliance
There are many appliances in a home that you can find energy star replacements for. All are designed to perform at the same level as regular appliances while providing significant energy savings. Here are a few of the major appliances along with energy savings and a brief description.
- Clothes Washers: certified clothes washers use 20% less energy and 35% less water. You not only save on your water bill but also through having to heat less water. If every clothes washer purchased in the US this year was an energy star appliance we would save 20 billion gallons of water and $250 million on our energy bills.
- Dishwasher: certified dishwasher use advanced technology to monitor how dirty dishes are during the cycle and make adjustments accordingly. This saves on the amount of water and electricity used while still making sure your dishes get clean!
- Refrigerators: while only 15% more efficient than current models that are not certified, energy star models are significantly more efficient than from 10 or more years ago. If you have an older fridge it may be time to look at saving.
- Other Items: water heaters, furnaces, air conditioners, light fixtures, fans, televisions, computers, freezers, and dehumidifiers are just some of the appliances that you would find in many homes that are also energy star certified. If you are looking at replacing any of these items it is worth your time to look into energy star options.
Going Green
In a previous blog post I talked about the the benifits of green rentals. You can read that post, entitled "Green Rentals - Tips From Park City Property Management" by clicking here. Aside from the obvious monetary benifits green rentals will appeal to many potential tenants who value the environment and appreciate a responsible landlord. Use your energy star appliances in your marketing efforts both for the green aspect as well as cost savings for the tenant. You can also go to the EPAs website on energy star appliances by clicking here.
If you would like more information about Park City property management download our free white page "5 Questions Every Landlord Should Ask Themselves".
There are many ways in which you can both enhance the value of your Park City property management operation. You can take steps to make a property more marketable or you can look for ways to increase your profit margin. One of the best ways to accomplish this is to install low flow plumbing fixtures. Many conscientious tenants are looking for a great place but one that is also environmentally friendly. The EPA has provided lots of helpful information on "WaterSense" products that can reduce water consumption in a property. Lets take a look at a few of these options.
Showerheads
According to the EPA showering is a significant source of water use in an average home, accounting for almost 17 percent of total consumption. For an average residential family this can amount to 40 gallons of water a day. This equals approximately 1.2 TRILLION gallons of water every year in the United States used for showering. Installing a WaterSense showerhead is a great way to reduce the amount of consumption in your property. The average showerhead uses around 2.5 gallons of water per minute (gpm). A WaterSense certified showerhead must use no more than 2.0 gpm in order to be certified. Make sure you select a WaterSense certified product rather than any old showerhead with a reduced flow. In order to be WaterSense certified a showerhead must undergo rigorous testing to ensure that it provides a shower that is equal to or better than a conventional showerhead both in water coverage and spray intensity. This guarantees that the product will not only be efficient, but also perform as well as a traditional showerhead. In Park City property management your tenants will be happy and so will your water bill. And there is not just savings in water bills. Whether you use natural gas or electricity to heat water in your property there are significant savings to be had by installing low flow showerheads.
Toilets
If you thought showers used a lot of water then take a look at toilets. The porcelain throne accounts for almost 30 percent of water consumption in an average residential home. Some older toilets use as much as 6 gallons in one flush! The current federal standard for a toilet to be considered WaterSense certified is to use no more than 1.6 gallons per flush while
providing equal or superior performance. Some toilets are actually able to provide this while using only 1.28 gallons per flush, a significant improvement over the standard. Replacing old toilets with WaterSense certified toilets can reduce water consumption by toilets 20 to 60 percent. This can equal almost 13,000 gallons of water per year for the average household. Savings on water ultilities can be over $100 in the first year and thousands of dollars over the lifetime of the toilet. If all the toilets in America were replaced with WaterSense toilets this country would save upwards of 520 billion gallons of water per year. Whether you are working in Utah property management or Park City property management it makes sense to go WaterSense.
Bathroom Faucets
Everyone is familiar with the idea of turning off a faucet while brushing your teeth or other activities. But there are also ways to save water with the faucet on. Devices called aerators can be installed on existing faucets to reduce water consumption or you can install WaterSense faucets and plumbing fixtures. WaterSense fixtures reduce water flow to about 1.5 gallons per minute or around a 30 percent reduction over standard fixtures. Not only will you save on your water bill but like a showerhead you can save on your gas or electric bill by heating less water. For more information on WaterSense options for property management Utah you can check out the EPA's website here.
If you are interested in learning more about property management Park City Utah, download our free white page "5 Questions Every Landlord Should Ask Themselves".
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Going green with your personal or rental property is something that many people are interested in but perhaps don't have an idea of where to begin. I recently posted an article highlighting one of the easiest ways: LEDs - A Bright Idea For Park City Property Management. Today I would like to give some more broad information and tips on on how to make your property more green, starting with simple things and moving on to more complex methods and practices.
Slow The Flow
Using low-flow toilets, faucets and aerators is a great way to reduce water consumption in a property. Some people dislike this method of saving but over the course of a year many gallons of water are saved by their use. As these fixtures also regulate the amount of hot water used there is also a savings on your heating bill. In a case study on the use of low-flow fixtures LaGuardia Airport in New York installed low-flow faucets and aerators, toilets, urinals, and shower heads as part of a water conservation program. The total cost for the fixtures was $89,745. Through these simple measures they were able to recoup all of their costs for installation, through a savings on their water bill, in only 8 months. If you would llike to read more on the case study at LaGuardia you can click here. Water, particularly in the arid western states, is a very important commodity. By taking small steps like using low-flow fixtures, cutting back on water waste, and being generally conservation-minded we will all save a little money and a lot of water. The potential impact would be huge for Utah property management.
Insulating and Air Sealing
Insulation is a very affordable and easy to install method for saving energy. Any building should have what experts call a tight envelope. The idea is to keep air flow between the inside and outside to a minimum. Adding additional insulation to the attic not only keeps warm 
or cold air in your property but will also help keep the cold winter wind and the hot summer sun from effecting the inside of the property. Adding insulation to the inside of walls can be difficult but there are options including blown in insulation that can facilitate this type of retrofit. Another way to reduce air loss to the outside is be doing a pressure test. This typically involves an expert with special equipment locating areas in your house or condo where you are experiencing air loss. Typical areas of air loss include along base boards and windows, recessed lighting, outlets and plumbing penetration. These areas can be sealed by using caulk, foam, or gaskets depending upon the area being sealed. Having a tight building envelope can reduce heating a cooling costs, which translate into more dollars saved and less energy wasted.
Solar, Energy Star, HVAC, And More
Solar energy is something I am particularly passionate about. I have spoken with many friends and neighbors who are either considering of have installed solar systems. I've had a solar contractor out to assess my home, and I hope to have solar panels installed in the near future. Solar panels are installed with a goal of having a net zero electricity usage in a calendar year. During the summer months excess electricity is fed back into the power grid and you receive a credit on your electric bill. During winter months you are able to use up that credit arriving at a net cost of zero. There are specific formulas that solar contractors use to determine your energy usage and the number of cells necessary to meet this goal. Most systems are scalable as well. Energy Star appliances are another way to save money in the long run. These appliances will have a yellow sticker detailing the estimated cost to run an appliance over a year, usually a good savings over less efficient appliances. There are also 95% efficient furnaces, tankless hot water heaters, geothermal hot water systems, and triple pane windows, all of which reduce energy consumption and increase efficiency. Many of these systems are also available to receive government incentives. Check with your local utility company, government agency, or licensed contractor for more information.
If you are interested in learning more about property management Park City Utah, download our free white page "5 Questions Every Landlord Should Ask Themselves".