Energy efficiency upgrades may reduce operating costs and increase property value. Owners and managers of multifamily properties are often reluctant to implement such projects because of concerns about the upfront investment and disruptions to tenants. Fortunately, there are a variety of energy-saving measures available that are affordable and simple to install.

Smart thermostats

Today’s smart thermostats contain advanced features that will appeal to you and your tenants. Remote control allows you to save energy and optimize comfort in common areas from anywhere using your mobile device. Some smart models can also program themselves based your tenants’ habits. Smart thermostats add a modern touch that can add value to your properties and appeal to today’s tech-savvy renters.

Water-efficient fixtures

A 10-minute shower results in up to 25 gallons of hot water going down the drain, adding to energy and water bills. Water-efficient showerheads are designed to use 30% less water than standard models. Kitchen and bathroom faucets are another source of energy and water drain. Low-flow faucet aerators also reduce water use by 30% or more, saving on energy and water costs.

LED lighting

Installing high efficiency LEDs in common areas is the quickest way to improve energy efficiency. The improved light quality makes for a safer, more inviting atmosphere. They also last significantly longer than conventional bulbs, reducing time and cost for maintenance.

Hot water pipe insulation

Insulating hot water pipes will reduce heat loss and increase water temperature by as much as 4°F, allowing you to save energy by lowering the temperature setting. Pipe insulation sleeves are simple to install and often cost less than $15.

Start with a professional energy assessment. You’ll get targeted cost-saving recommendations for improving the efficiency of your building shell, in common areas and throughout your property.