Property Blog and News / Simple ways for tenants to save money in their home

Simple ways for tenants to save money in their home

29 March 2021


Property Expert

Residential sales and letting agent, Mansons in the North East, shares its checklist of cost cutting tips to help reduce energy and maintenance cost.

As a tenant, you have far less control over implementing money-saving measures in your home than the average homeowner but that doesn’t mean that the amount you spend is already set in stone. Whether you’ve just moved in or you’re a long-term resident, now is the perfect time to walk through a checklist of money-saving measures and see how you can save yourself some pennies. Acting now means that you can start saving your hard-earned cash sooner rather than later, so here are five ways to reduce the energy and maintenance costs in your home.

– Invest in a well fitted hot water tank jacket, this could save you about £50 per year and it only costs around £15. Most modern hot water heaters are reasonably well-insulated, but older heaters often are not. If you’re working with a geriatric model, then invest in a blanket for your water heater. This will trap the heat in the water instead of letting it spread out into your utility closet, saving you money on your heating bill.

– Only do your washing with a full load, 90% of energy used for washing is heating the water, reducing the amount of loads you do could save you around £10 per month!

Programmable thermostats allow you to schedule automatic increases and decreases in room temperature. This means that your home has the chance to naturally warm or cool itself while you’re at work or asleep, conserving energy. When you’re at home, the device will automatically adjust the temperature of your home to a temperature chosen by you. This will save you a significant amount on cooling in the summer and heating the water. Before you install a thermostat, however, make sure that you seek permission from your landlord.

– Where it is appropriate to do so, install Compact Fluorescent Lamps (CFL) and LED light bulbs. These will save you a large amount of money on energy use long-term, and, although more expensive to purchase initially, maintenance costs are much lower. CFLs are usually most appropriate in hallways, and LEDs are well-suited to provide lighting in closets or cupboards (although their functionality is improving all the time). Using a 7W LED bulb (compared to a 50W halogen bulb) for 4 hours could save you £9 per year, per bulb!!

– Think of substituting old, money-guzzling appliances with something newer, shinier and more efficient. Your main criteria should focus on reliability and energy efficiency, to the exclusion of almost everything else. All energy efficient models will cost more upfront but it is far cheaper over the long run to have a low energy fridge than a cheaper, energy-guzzling model.

So there you have it – start saving today!