Corporate

Here are a few things to consider when choosing a rental home:

Heating and Cooling System
What type of heating and cooling system does the home have?  The type of system that the home has, typically determines the type of electric bills that you might expect.  You can expect a higher winter time electric bill in a home with a heat pump, than in a home with a gas furnace.  Click on the following links for electric cost estimates on gas, electric, and heat pump use, and heat pump information in general:

Estimated Electric Cost For Heating and Cooling

Heat Pump Information

Age of Units
How old is the home that you are considering, and more importantly, how old are the appliances and heating and cooling systems.  The average life span of most heating and cooling systems is 15 years.  As HVAC systems and appliances age, they lose their efficiency resulting in higher costs.  Insulation and caulking also loose efficiency over time, so take the time to look at these items as well.  Take a quick look in the attic.  If the tops of the ceiling joists or bare ceiling areas are visible, then the insulation is not up to standards, and could result in higher heating and cooling costs for the home.  If the home is on a crawlspace take a quick look to make sure that the home has insulation in the floor over the crawlspace.  Also check to see that caulking around the windows and doors is in good shape.

Orientation of the Home
A home that faces the east or the west will experience higher temperature increases during the day, throughout the summer months, than units that face north or south.  This may result in higher cost for east-west facing units that for others.  Also, homes that are shaded during the hottest parts of the day by trees will have lower cooling costs during the summer.

Windows and Doors
How tight do the windows and doors seal on the home that you are viewing?  Double pane windows that seal tightly are a plus.  Also check sliding glass doors for tight fits.  Leaky windows and doors can result in higher energy costs.  Rope caulk, which is removable caulking, can be purchased from a local hardware store and be used to compensate for air leaks around windows.

Water Heating
Consider the type of water heater that your home uses.  Electric water heaters use approximately $30 of kilowatts per month and are typically a large portion of your bill.  You could have the homeowner adjust the temperature on your water heater to partially lower this cost.  A temperature setting of 125 degrees Fahrenheit is recommended for a water heater.

Other Equipment
Some rental properties may have other equipment to consider in your costs.  A home that uses a well pump has an additional cost that adds to your power bill.  Pools or hot tubs that may be part of a rental property can also add more expense to your monthly bill.  Remember to consider all of the electrical equipment in a home when planning your budget.