Rentals.com Company Blog

Just for Property Managers

By Amber

When you are trying to rent out your rental home to potential residents, the more information you can give them about the rental property, the better.

Here are a few ways you can monitor your rental property’s utility costs to use as a potential selling point to potential renters.

Why track your utilities?
It’s a tough rental market out there. You want to do anything you can to make your rental property rise to the top above the rest. If you can show potential renters that they can save money on utility costs, that makes your rental property stand out — and they might take your property over another.

Ask the utility companies
Utility usage is an important general piece of information for most renters. Because you own the property, utility companies likely will have no problem giving you the utility cost information for the past year. If they won’t give you detailed bills or monthly totals, they might at least provide you an average monthly cost.

Install energy monitor
Consider installing an energy monitor in the rental home. These handy gadgets track energy usage and make it easy to see at a glance just how much energy use costs for the home.

Analyze the data
Once you get the information you need about your utility usage, take a careful look at it. How efficient does your rental home appear to be, energy-wise?

If your residents are spending more than you or they would like on utilities each month, it might be time to consider some future home improvements. If the energy bill is too high, look into adding insulation or upgrading your heating and cooling units. If the water bill has sky-rocketed, it might be time to install low-flow showerheads in bathrooms.

Use the information you have to make your rental property a more efficient place to live.

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