According to recent data released by the U.S. Energy Department's Energy Information Administration (EIA), Americans may be faced with increased heating costs this winter.
Due to last winter's unusual warmth, heating costs remained low for the duration of the season. This coming winter, however, is expected to be closer to normal, with heating price increases to match. According to the EIA, Americans can expect to see natural gas heating prices jump by 14 percent, heating oil by 17 percent, 8 percent for electric heating and 17 percent for propane.
As property management officials know, maintaining low utilities is a great way to keep and attract quality tenants. Therefore, in order to maintain a steady influx of rental applications, landlords should take every possible measure to insure that raised heating prices are not simply shrugged off onto their tenants.
There are a few cost-effective ways that property managers can help tenants keep total heating costs lower. For example, advising tenants to seal doors and windows with plastic coverings and cloth can help consumers save 10 percent on their total energy bills, according to ABC News.