Owning a real estate property means you have to deal with ongoing issues on a day-to-day basis, but the most common is tackling insulation problems. As a property owner, you need to increase energy efficiency to cut expenses and bring more value to your property. Energy audits for real estate properties could help save a lot by reducing electricity bills. If you're new to property management or have delayed auditing your property due to budget concerns, we have listed how energy audits can improve the energy efficiency of your property here.
What is an Energy Audit?
Before understanding how energy audits are beneficial, let's find out what exactly energy audits mean. Energy audits are detailed assessments of your property's energy consumption by professional energy auditors. They thoroughly inspect your property, inform you about any wastage of energy, and give suggestions on how to reduce the same and save energy. This way, it can help you, and your tenants save costs and avoid significant future problems.
What do they Inspect During Audits?
Professional energy audits can be done in less than an hour or four to five hours, depending on the size of your property. But some common aspects will be inspected during energy audits, such as:
Outdoor Inspection:
Auditors will do a comprehensive inspection of the building from outside and check for leaks in windows, walls, and other crucial areas. This is the first step every auditor will take to ensure everything outside the building is fine.
Heating and cooling system:
The auditor will evaluate your water heater, furnace, air conditioning and check if the filters need any repairs or replacement. They will also tell if you need to update the systems with new ones or just a repair. The ducts in your basements will also be checked to see if the connections are correct or not.
Appliances:
Sometimes, repairing old appliances does not resolve the problems but replacing them with a new one will. Auditors will check if all the devices are working fine or whether they need to change.
Lighting:
Energy auditors will evaluate how much the light bulbs are consuming, and if you are using incandescent light bulbs, you may have to switch to LED or CFL bulbs to save money.
Blow-Dryer Test:
It determines the airtightness of the units
During the blower door test, ensure all the doors and windows are sealed correctly, and if there are any broken windows, they must be air-sealed for the test to be done right.
It's important to arrange a power supply for the blow-dryer test in your utility if you don't have one.
Keep all the ashes from any wood-burning appliances away for the blow dryer test to go smoothly.
Here are the most common tools energy auditors use to inspect your property:
Digital manometer
Thermal imaging camera
Combustion Analyzer
Duct Leakage testing equipment
Blower door test equipment
Carbon Monoxide analyzer
Combustible gas leak detector
Based on the size of your property and your budget, energy auditors will assess your property.
Top Benefits for Conducting Energy Audits
An energy-efficient property will be comfortable and cost-effective to live in. Conducting regular energy audits will make your property more eco-friendly, homely and adds excellent value too. So, if you want your property to be energy-efficient, it's time to get energy auditors on board to assess your property, but if you're still unsure, here are five ways it can help you.
Cut expenses
One of the main benefits of conducting energy audits is cutting your and your tenants' electricity expenses. Professional electricians inspect every unit and check any changes or repairs to provide better alternatives that can save thousands of dollars if you own a large property. It can cut down nearly 5 to 30% of your electricity bills and make your property more energy-efficient.
Boost the value of your property
An energy-efficient property is of great value, and it will also help you land new tenants easily. Most energy-efficient properties attract new buyers as they are eco-friendly and comfortable. If you have good insulation and use solar panels, it drastically increases your property value. So, whether to get good returns now or in the future, getting energy audits done for your property will always keep it attractive.
Detect problems
Any instances of air leaks, improper insulation, or heat due to leaks in walls and flooring will all be checked during the audit. It helps to know what's wrong and what needs to be fixed. It also keeps you away from significant damages in the future that might cost you and your tenant. Resolving these issues can make it a safer place for your tenants to live in your rental property and help retain tenants.
Increase Comfort
As property owners, the first thing you must do is keep your properties safe and comfortable for your tenants. By conducting energy audits, you will keep your units safe and make them a comfortable place for your tenants to live in. If you want to attract more prospective tenants, you will have to spend a little to conduct an energy audit for your property, so you don't have to worry about any energy-related problems in the future.
During the audit, do not use any solid-fuel fire appliances, fuel-fired space, or water heating systems. You will have to sign a consent form before the audit, and the auditors will take photos of the areas that need to be repaired, which will be under privacy legislation. Auditors will get a set of tools to do the analysis, begin with outdoor inspection, and then move on to indoor audit. You can clarify any doubts before the audit day to ensure nothing goes wrong.
Let Assetsoft Help You With Energy Audits
Finding the right consultancy to perform energy audits for your property can be challenging. For one, you need someone experienced in the industry you’re in. Consultants with experience can help you increase cost effectiveness.
If you want to know the minimum requirements and the overall cost, Assetsoft can help you assess it based on the size of your property and other factors. Our experts can give you the correct estimate and help you with the process. If you want to make sure your property is inspected from the basement to the attic, be sure to contact us today! Our experts will get in touch with you soon.