The top 7 must-have energy-efficient appliances in Ontario’s rentals

With ever-increasing energy costs and pressing environmental concerns, energy-efficient appliances can hardly be termed a luxury but rather a necessity. In Ontario's competitive rental market, offering energy-efficient homes is a sure way of distinguishing your property while attracting environmentally sensitive tenants and saving on running costs. As one of Canada's leading property management and leasing companies, Royal York Property Management has a portfolio value of over $10.1 billion with over 22,000 properties under management. Our commitment to sustainability means we need to stay on course, incorporating innovative and energy-efficient solutions into our properties. Here are the seven most important appliances that will give decision-makers and rental investors the edge regarding energy efficiency for Ontario rentals in 2024.

Energy-Efficient Refrigerators

Considering that refrigerators are among the largest energy consumers in any home, energy-efficient models become quite an important investment. They reduce electricity bills while minimizing greenhouse gas emissions. Smart technology, a typical feature of most contemporary energy-efficient refrigerators, facilitates control or monitoring from remote locations. Improved insulation and cooling systems have also been advanced to try to enhance their efficiency. For instance, replacing them with models that have the Energy Star certification can result in energy cost savings of up to 15% over non-certified units.

High-Efficiency Washing Machines  

Water and power savings are very critical in a washing machine selection. High-efficiency washing machines use far less water and electricity, which will please the tenant who is looking to save on utility bills. The newest models in 2024 show numerous developments, meaning that load-sensing technology applies water only according to the size of the load, and steam cleaning options can be added for better stain cleaning. These ensure a good cleaning while conserving resources, an added feature for the environmentally conscious tenant.

Energy-Efficient Dryers 

When paired with an energy-efficient dryer, today's high-efficiency washing machine maximizes utility savings. Many of the new dryers use heat pump technology, reusing heat and using less energy. Moisture sensors prevent over-drying, which further reduces energy consumption while also extending the life of clothes. Tenants appreciate the faster drying time and easier care for their laundry, enhancing their overall satisfaction with the rental property.

Induction Cooktops 

Induction cooktops are revolutionizing kitchen efficiency. They offer faster cooking times and reduced energy waste by directly heating pots and pans while keeping the cooktop surface cool. Smart cooking technology allows precise temperature control, which can be managed through smart home systems. These cooktops are also safer, as they reduce the risk of burns and fire hazards. For landlords, induction cooktops represent a forward-thinking investment that aligns with tenants’ growing preference for sustainable living.

Energy Star Dishwashers  

Energy Star-rated dishwashers will not only help your tenants save on both water and energy upgrades in cleaning, but they will also be able to clean better. Most dishwashers equipped with sensors can self-modulate water and energy usage based on load size to ideally straddle efficiency and cleanliness—for example, eco-cycles that maximize energy and water savings. This would have been a practical and interesting feature for tenants interested in minimizing their ecological footprint.

Smart Thermostats 

Smart thermostats are the future of rental property energy management. They lower heating and cooling bills by learning tenants' schedules and adjusting temperatures accordingly. In 2024, the most recent models will have advanced learning algorithms and can be controlled remotely with a smartphone or voice assistant. These devices do not only increase tenant comfort but also add to general savings in energy—two features that necessarily will make them very prominent in modern rentals.

Energy-Efficient Water Heaters  

A large proportion of energy consumption in any property is for heating the water. Energy-efficient water heaters include tankless and heat-pump models that have huge cost-saving potential. Tankless water heaters use their energy only when hot water is required, thus avoiding wasting energy by keeping a tank full of hot water. Heat pump water heaters pull the air's heat to transfer into the water, using significantly less electricity compared to traditional electric models. These developments guarantee a constant supply of hot water at lower energies, hence compelling tenants in sustainability.

Investing in energy-efficient appliances is a smart move for Ontario landlords. These appliances reduce operation costs and make the facility more attractive for the emerging group of tenants who are eco-conscious. At Royal York Property Management, we strive to incorporate those energy-efficient solutions within the portfolio of managed properties with a view to creating a better living experience for our tenants and ensuring environmental sustainability. Keeping pace with changing energy efficiency standards keeps our clients' properties competitive within the rental market and promotes responsible living. For more information on Royal York Property Management and our services, visit: royalyorkpropertymanagement.ca