Does A Smart Thermostat Actually Save You Money?
The use of a smart thermostat has the potential to reduce HVAC costs among your rental properties. Whether you own a single-family home, a duplex or an apartment complex, the use of smart technology can help manage and reduce heating and cooling expenses now and for years to come. Let’s take a deeper look into the various ways in which such a tool can help to protect your bottom line.
Control Utility Costs
Many smart thermostats come with tools that allow you to lock the temperature within a specific range. This means that you don’t have to worry about a guest or tenant keeping your unit at an unreasonable temperature. You also don’t have to worry about your heating or cooling system running when someone isn’t home or in their apartment because the system takes all day trying to get to the set temperature.
Ultimately, you’ll have the peace of mind that comes with knowing that you’re in control of how much energy is used at any given time. As an added bonus, some systems will provide usage and other data that can be used to determine what a reasonable temperature range might be. Of course, you can always make changes if a particular guest or tenant has special needs that must be accounted for.
Control Maintenance Costs
Another way that a smart thermostat can help save money is by cutting down on maintenance costs. When the temperature is set to a reasonable level, your heating or cooling systems should have no trouble reaching it in a reasonable amount of time. Furthermore, there should be little need for short cycling, which occurs when the temperature is just barely attainable but can’t be maintained because of current weather conditions.
The less time your heating or cooling system needs to run, the less wear and tear will accumulate. There will be a reduced risk of parts breaking or the unit itself failing to function before the end of its useful life.
When properly maintained, a heating system can last for about 20 to 25 years. A cooling system can typically last for about 10 to 15 years if you take care of it. In many markets, a new furnace can cost $10,000 or more while a new air conditioner can cost $5,000 or more.
Repairs can cost hundreds or thousands of dollars even to take care of minor issues. Therefore, taking care of your HVAC system means that you can avoid or delay major expenses that can reduce profits and the overall customer or tenant experience.
You’ll Experience Lower Vacancy Rates
Lower vacancy rates means that your property will be producing revenue on a more frequent basis. It also means that you won’t have to deal with costs related to marketing an empty unit.
In most cases, those who have a good experience in your home are more likely to recommend it to others. They may also be more likely to take better care of your property while they control it, which cuts down on cleaning or repair costs caused by an unhappy occupant.
By taking care of your HVAC components, you’ll be able to market to quality renters or tenants who will pay top dollar for your rental. Therefore, in addition to spending less on advertising, you won’t have to make concessions such as lowering your rental rate or throwing in extras to compel someone to stay in your home.
If you are in need of quality and timely heating and air services, don’t hesitate to reach out to the folks at Daytona One Hour today. Remember, we’re on time or you don’t pay a dime for our services. Therefore, you can feel good that you’ll get maximum value for your time and money and feel good that you keep your focus on running your business no matter what happens.
