As a property manager, you’re responsible for overseeing multiple properties, handling maintenance requests, managing tenants' needs, and more. However, the more properties you manage, the more utility bills you have, and they can add up quickly. Since you don't have control over tenants' energy usage, you may need to develop innovative ways to reduce utility costs.

Below, learn how property managers can not only cut utility costs but also conserve energy.

Track Utility Bills

Understanding your utility bills is a vital step in cutting utility costs. Utility bills usually include electricity, water, gas, and waste disposal. Some are consistent (a set price each month), while others vary depending on several factors, such as usage, market price, weather, tenant occupation, and more.

Tracking the average cost of each bill for each property can help you identify inefficiencies, should they arise. For example, if you know Property A’s gas bill is typically around $1,000 in the winter months, but it’s $1,300 this month, it may prompt you to investigate the cause (such as leaks/drafts in windows and doors or blocked vents). But if you don’t track your bills, you’ll never know!

Switch to LEDs

Replacing incandescent lights with LEDs in buildings, common areas, and outdoor spaces is a simple yet highly effective method of reducing energy costs. Depending on the property size and lighting quantity, this change can significantly decrease your property's wattage consumption by hundreds to thousands. Additionally, LEDs have an average lifespan of 20,000 to 50,000 hours, nearly 30 times longer than traditional incandescent bulbs.

Install Automatic Light Sensors

Automatic on and off light sensors work by detecting motion or ambient light levels, automatically turning lights on when someone enters a room and off when the space is vacant or when there's sufficient natural light. This technology ensures that lights are only used when necessary,

Maintain/Update HVAC Systems

Scheduling regular maintenance for your heating and cooling systems ensures everything runs as it should. You should change the filters on your furnace/AC monthly. New, clean filters allow your system to run more efficiently, saving you money each month.

Consider an upgrade if your HVAC system is over 10 years old. Outdated appliances, particularly heating and cooling systems, can significantly increase energy usage, leading to unnecessary expenses. You may not even realize that you're paying extra money on energy bills. Your local utility provider may offer incentives and rebates to help offset the cost of installing an energy-efficient heating or cooling system.

Install Smart Climate Control Systems

Newer thermostats can automatically adjust heating and cooling systems based on your preferences. Smart thermostats are equipped with Wi-Fi connectivity, allowing you to adjust the temperature from anywhere and monitor energy usage from your smartphone or tablet. One of the easiest ways to improve your heating and cooling system’s efficiency is by setting temperature schedules that align with occupancy, avoiding unnecessary energy consumption when no one is there. According to ENERGY STAR, smart thermostats can save you an average of 8% on your heating/cooling bills annually.

Reduce Water Consumption

Installing energy-efficient, low-flow toilets can significantly reduce water consumption, saving up to 3 gallons per flush. By installing low-flow shower heads, you can decrease water usage, as the shower head forces water through fewer holes without affecting water pressure. This makes low-flow shower heads as effective as traditional ones while using less water.

Encourage Energy Efficiency Amongst Tenants

Provide your renters and lessees with energy-efficient reminders and tips. Consider placing signs in common areas or sending out a monthly newsletter. Tips can include:

• Turn off the lights when you leave.
• Power off any equipment/appliances when not in use.
• Be sure to shut exterior doors and windows fully.
• Turn off lights and utilize sunlight during the day.
• Keep thermostats set to 68 degrees in the winter and 78 degrees in the summer.

Switch to UGI Energy Services

UGI Energy Services offers natural gas and electricity solutions for property management companies and property owners like you. With the help of our energy experts, you can manage your properties with ease and peace of mind. We understand your unique energy needs and will find the best solutions tailored to your business. Whether you're buying your first property or managing multiple locations, UGIES can evaluate your energy-buying habits and needs to build a customized plan that fits your requirements.

Ready to make the switch? Request a quote today!

Learn more about how property managers can cut utility costs in our Property Management Energy Guide.