Optimizing the Energy Efficiency of Multifamily Units: A Brief Guide
Given the consistently increasing energy costs, it has become necessary for building owners to optimize the energy efficiency of their multifamily units, in order to maintain their profits. Enhancing the energy efficiency of multifamily properties not only reduces overhead expenses, but also boost the comfort of tenants. In addition, many of the renovation works aimed at increasing the energy efficiency of a property are entitled for tax credits on the property’s rental income. Taking the conversation further, let’s learn the ways to increase the energy efficiency of multifamily apartments.
Install Cool Roofs
Installing cool roofs is a prudent decision on the part of multifamily property investors who want to improve the energy efficiency of their properties. Cool roofs help in cutting down energy bills and improving indoor comfort. These roofs are coated with a highly reflective paint, shingles or sheet that reflect more sunlight, and therefore, they absorb less heat compared to standard roofs.
Install Programmable Thermostats
Installing programmable thermostats with sophisticated controls allows multifamily investors to regulate the heating and cooling levels and thereby lower the energy bills of his property. These thermostats have the ability to store and repeat multiple daily settings that are manually changeable without affecting the remaining daily or weekly program. Besides enhanced energy efficiency, another factor that attracts multifamily property owners to programmable thermostats is low installation costs.
Install Tankless Water Heaters
Water heating is the second largest energy expense in residential properties, accountable for approximately 18 percent of their total energy costs. Tankless or demand-type water heaters not only help save energy, but are also more efficient compared to tank heaters. Typically, they are 22 percent more energy-efficient as compared to the gas-fired storage-tank models. Tankless heaters use high-powered burners to quickly heat water when it runs through the heat exchanger. Seamless hot water, no storage limitation, and low energy bills are a few of the prominent reasons why multifamily property investors invest in installing tankless water heaters.
These are only a few of the ways in which multifamily property owners and investors can enhance the energy efficiency of their properties. The returns, however, depend on the proficiency with which the upgrades are implemented. Therefore, no matter whether you procure roofing service or HVAC service, make sure you hire an experienced contractor with proven competence. If you have any questions or should you wish to learn more, feel free to call us for a no obligation free consultation on energy-efficient multifamily apartments.