Short Term Rental Riches 84. How To Decrease One of Your Biggest Expenses
Jun 22, 2021
Discover clever strategies to cut down on utility costs in short-term rentals! Learn how solar energy and smart home technology can help boost profitability. The podcast offers practical tips for property owners and guests alike to use utilities more responsibly. Plus, explore water-saving fixtures that can make a big difference in expenses. Tune in for money-saving insights that help you keep more cash in your pocket!
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Cut Utility Costs To Boost Profit
- Utilities are a major variable cost in short-term rentals that can significantly impact net income.
- Targeting utility savings can increase profits and reduce monthly expenses effectively.
Global Short-Term Rental Connection
- Tim Hubbard discussed utility cost reduction ideas with a South African short-term rental friend met at a conference.
- They noted that rental operations share many common challenges worldwide, including utilities management.
Use Solar Power To Cut Electric
- Consider installing solar panels to reduce electric bills long term and possibly add property value.
- Evaluate payback periods and explore tax incentives available in your area for solar installation.