Tips for saving on energy costs and choosing the best HVAC system
As the owner of an apartment complex or multifamily residence that includes utilities in the price you charge for rent, managing energy costs is imperative to the survival of your business. If utility expenses become too high, you don’t stand a chance of profiting from your rental property. You may even find that you can’t compete with larger operations because the utilities paid out for your apartments and duplexes exceed your budget and cause great financial concern.
Keep reading to learn some things you might not know about HVAC systems in multi family homes or apartment complexes, as well as for tips on saving energy.
How does central air work in apartments?
One of the most pressing questions you might have about your new rental properties is: How does central air work in apartments?
It’s really quite simple.
Apartment air conditioning systems vary in size and function, but they have similar components. Central air uses refrigerant (a cooling substance) that gets cycled and pushed through ductwork and into the residences of your rental units. There’s one central system that supplies the cool air to all of the apartments or duplexes. So when there is a problem with this system, all residents are affected by the issue.
How to choose the best HVAC system to meet your needs
There are many factors that go into selecting the best HVAC system for your rental property. To better understand the process, we’ll highlight some of the more notable features to consider when finalizing your purchasing decision—that way, you’re getting precisely what you want to heat and cool your apartments, duplexes or multifamily rental homes.
One of the first considerations is cost. You likely have a budget in mind to follow. Be sure to choose a heating and cooling system that helps you to stay within your budget.
Next, you’ll want to choose the size of the HVAC system that works for the entire building. It’s wasteful to install a heating and cooling system that’s too big or too small for your space. Plus, improperly sizing your HVAC system will also result in it breaking down sooner than it should.
Lastly, you’ll want to make sure your HVAC setup is energy efficient. The initial higher cost pales in comparison to the amount of money you’ll save by choosing an HVAC system that maximizes efficiency. Factoring in a lifetime of savings makes it easier to buy a more expensive system outright.
Types of HVAC systems for your consideration
The type of HVAC system that you choose for your rentals depends largely on cost and energy efficiency. One expense is immediate while the other pays out in benefits over time. The 2 types you have to choose from are:
- Centralized heating and cooling means that the climate-controlled air comes from a central location such as a basement or mechanical room.
- Decentralized HVAC means there are separate units for each residence. The advantage of having this type of system is that if one unit goes out, not all units are affected. The downside is the expense of purchasing all of the individual units for each residence.
How to save money heating and cooling multifamily residences
Keeping your overhead costs low as the owner of an apartment complex or multifamily residence takes knowledge and skill, but it’s not impossible. Many owners of rental units have adopted systems that work well for them when it comes to energy savings.
The following tips can help your residents beat the heat in the summer and stay nice and toasty during the winter, while still saving you money:
- Be mindful of how air escapes from the building. Identify the openings and gaps in your building so they don’t become more problematic. Seal the areas by caulking or applying weather stripping. This can help lower energy costs significantly because cool or hot air isn’t allowed to escape from the building.
- Add insulation. Common places to look at increasing the amount of insulation in your building include attics, basements, and crawl spaces. The goal is to keep the cool air from heating up as it rises or cooling down when you’re trying to heat the residence.
- Install appliances with EnergyStar labeling. They’ll use less energy and remain efficient for years. When considering the different types of appliances you’ll supply to your tenants, think about how much electricity each one needs to run daily. Then, multiply that number by 365 and then multiply it by the number of residences you have in your multifamily building.
We hope these ideas will help your keep energy costs in your rental units low so that you’re not stuck footing the bill on your all-utilities-paid apartments and duplexes. Making your tenants aware of energy-saving features and providing them with tips for maximizing efficiency helps you avoid costly utility bills in the future.
The right HVAC system provides return on your investment
Keeping the rental units you own at a comfortable temperature is easy when you’ve got the right apartment air conditioning systems in place. Now that you know which types of systems exist and the advantages and disadvantages of each, you’ll be able to make an informed decision concerning your apartment building or multifamily residence. In terms of longevity and energy efficiency, you can’t go wrong with doing your research and choosing a selection very carefully.