In order to run a successful rental business, it is no secret that you have to make profits that are more in number to your expenses. While business owners calculate their expenses to see where the money is spent on, usually it is just confined to upfront costs like furnishing and paying for booking sites etc rather than going into the utilities costs. Actually with the increase in the number of guests there is also an increase in the utility bills. In this article, we will take a look on how to save money on utility bills to increase your business revenue, innovatively.
But the thing is that you cannot set up rules for your guests like how long you can use the shower or switching off the lights when not in use as it can make the guest uncomfortable and also eliminate the chances of booking your property again.
So you have to look for options which are very professional and practical without discomforting the guests.
Make changes now, reap benefits in the long run
Tips on updation
Look for energy saving appliances like stoves, washers and dryers. This step can help you to save money on your monthly utility bills even though the initial buying costs will be on the higher side.
If you have not insulated your home well, then you are losing a lot of unnecessary money on your bills. Lack of proper insulation will result in improper heating or cooling by Air conditioners or heaters meaning additional hours of operation resulting in huge bills.
Switch to double pane windows:-
If your property has single pane windows then it is time to update it to double pane ones. The benefits of a well insulated home cannot be enjoyed if the inefficient windows let in cold air and let out warm air.
Use LED Lighting:-
Using LED lights can save electricity upto 75% and also using LED TV’s instead of plasma ones can help save energy. Upto 50 watts.
Motion sensor outdoor lights :-
Think of updating to motion sensor outdoor lights so that you only pay for the lights that guests use or solar powered lights so as to pay nothing. You can even go a step ahead by opting for motion sensor indoor lights so that the lights will be turned off if no one is there in the room helping you to save money and energy.
Switch to a low flow showerhead if you are not currently using one as this can help in reducing the water consumption of guest while showering resulting in reduced water and electricity bills as the amount of water that needed to be heated in the hot water tank will be considerably reduced
Low flow toilets:-
1.6 gallons of water is the maximum required to flush down any waste but older toilets use 3 to 7 gallons. Even if you do not purchase a new toilet you can adjust the old one by installing a tank bag or adjustable flapper to reduce the amount of water used per flush
Maintain your home in an energy efficient way
Regular maintenance of your vacation rental home is the next thing that you can implement to save you from excessive utility bills. We will see how
It would be ideal if you clean the coils behind your refrigerator at least twice a year as it can improve the energy efficiency by 30% When HVAC filters get filled with dust the HVAC system takes up more energy than required to work efficiently, therefore change it every month
Fix leaks of your home as it will lead to excessive water bills and damage to your homes
Clean the dryer vent after each guest stay as it is a potential fire hazard and also leaves you with wet laundry and higher bills
Rectify cracks or broken seals around your doors and windows at least once a year as it is not productive for your furnace or AC
If you don't have bookings for a few weeks unplug all electronics. Lower your thermostat but don’t turn the heat off completely if the weather is too cold. Your utility bills can be reduced by taking measures to ensure optimized energy utilization
Saving energy is the easiest way to save money on your utility bills and bring your vacation rental home into profits. To add to that you need not sacrifice the comfort of your guests in the process. Save energy, save money and let your guests have their happiest holidays!