February 28, 2018

Increase your Airbnb profits by lowering your power bill

Power bills can be a profit crusher. If you want to increase your Airbnb profits, you need to consider your power bill. Not every city has year-round moderate weather, so if you’re hosting in an area with extreme weather, you can drop some serious coin on electricity and gas. Just like any other expense, you can bring down your costs with some tips for efficiency.

The Obvious

Is your A/C unit working properly? When it’s your house, you learn how to control temperature and can sometimes miss small problems with your A/C. It might cost a few dollars to have someone check out your system, but it’s worth it. An A/C unit running at peak performance will save you cash by pushing out more cool air in less time.

The same goes for your furnace. Before you start hosting, make sure the furnace is running at peak capacity just like your A/C unit. The faster and more efficiently you heat your home, the less gas will be consumed.

Natural light is a great feature in a home,but if you live in an area with a warm summer, the natural light can quickly heat up your house. Try the following products:

·         Black out blinds and shades: You can pick these up at Amazon, Lowes, even at Walmart. Invest well and don’t skimp on quality. Warm windows are how your home starts heating up. Block the heat, keep the room cool.

·         Sun blocking solutions for your windows: There are two main options: window film and sun blocking screen fabric. Again, do a quick search on Amazon or Lowes and you’ll come across many options. There is a learning curve to installing window film, but it can keep your room a few degrees cooler once it’s on. My personal choice is blocking screen fabric rather than the window film. It’s far easier to install, works well, and doesn’t leave residue on your windows.

 

You could also try a smart thermostat. Nest has an excellent smart thermostat that learns over time to keep your house at an optimal temperature for less money. It uses body and cell phone sensors to track when someone leaves and adjust the temperature accordingly. It isn’t cheap, but it can save you a ton of cash and has many positive reviews from AirBnb hosts. Meet the Nest Learning Thermostat

 

If you’ve tried all the above, have your insulation checked. Better insulation will hold the temperature far longer. It’s not cheap, but high-quality insulation can save you more money than all the tips listed above.

Put some trust in your guests. I don’t think a guest deliberately runs up your power bill. Make sure to include your A/C policy when writing your house rules and make it very clear. Also put it in the welcome materials. You can also leave reminder notes by doors and window with instructions to close when running the AC. If you leave notes, make them nice.

If you have a contract with your guests (and you should), you can include a policy about exceeding the daily costs for power. Just make sure that you’re fair about the estimated daily costs if it’s in the contract. How much power does it take to keep your house at a comfortable 75˚F and run all normal appliances and amenities? 5-star reviews start with a happy, comfortable guest.

With a little forethought, you can really cut your costs down and be more eco-friendly. Implementing these kinds of solutions significantly lowered my power bill and saved me thousands over the years—they can help you save money, too!

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short-term rental
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