Recently, we gave landlords the head's up about Heat Season starting Oct 1. This week, we're going to focus on how you can save money on your heating system. Some ideas will probably be nagging points that you've heard before, but others might surprise you.
1. Hear Your Tenants
Last week we mentioned that you should consider your tenants your first line of defense. We mean that (it's pretty much our thing.) Good communication with tenants might alert you to a problem before it costs you a lot of money. If you encourage your tenants to reach out to you, here are some things they might tell you about your heating system:
Pipes clanking - When water builds up over time in pipes and comes into contact with hot steam, it bursts (it's called a "water hammer"). At best, this means your system isn't operating efficiently and at worst it means your pipes could be damaged to the point of replacement.
Wild temp differences - Upstairs is freezing, downstairs is boiling. It's common, but could be a big problem: your heat timer is broken and/or needs to be reset. Your system is working overtime to produce heat that isn't getting distributed properly or at all.
2. Clean and Inspect
Heating systems are a complex matrix of machinery and good old fashioned science. It's actually pretty fascinating when you think about how they work. But they age, get dirty, and break down.
Without proper maintenance you lose money twice - first on inefficiency and second on expensive equipment replacement. Maintenance isn't sexy, but it's savvy.
An old system can still work well if it's clean. So use data from tenants to help identify what parts of your system need attention. Scheduling a deep clean for your system at least once a year (off-season) is a great way to increase fuel efficiency and extend the life of your system.
Additionally, the city has to inspect your boiler, but there are other parts of your system (the outdoor weather-head, pressure and temperature controls, return-line sensor) that you should also get inspected annually.
Stay ahead of these issues by setting up personal reminders to check these instruments. The bare minimum of system maintenance gets the bare minimum of system efficiency.
3. Upgrade for the Environment
A 2015 report states that the energy NYC buildings use accounts for 75% of the cities' greenhouse emissions - and 50% of that energy goes to heating.
It also says that NYC landlords could save $147 million annually by taking small steps to improve their heating systems.
The city has set up the NYC Retrofit Accelerator to help landlords find ways to improve their buildings heating system.
Some solutions are bigger projects like downsizing your boiler or transitioning to other fuels, but others are small and high-impact. Installing heat sensors and smart thermostats to control distribution, or better insulation can improve efficiency.
Even involving your tenants can help. Installing a simple orifice plate in each unit's radiator takes 5 minutes and can lower costs while providing tenants with greater discretion on heating their apartment. Asking them about this could save you a lot of money and help all of you save the planet!