May 22, 2024

Here’s How to Manage Electricity as a Commercial Landlord

Commercial landlord, though it has its benefits, can be a lot more hectic than it seems to be. The reasons include checking wear and tear, ensuring that the premises are cleaned, appointing security staff, and constant monitoring of the property.

However, one thing that may be the most hectic of all is managing electricity. Ensuring electricity supply, collecting payments, submitting payments, and the number of units each tenant uses are all the tasks that you have to undertake if you are a commercial landlord.

Therefore, to make your life easy, here’s how you can manage electricity as a commercial landlord.

Backup Power

Everyone needs electricity these days. It is one of the most important things that keeps a property running. In the case of a commercial property, it is essential as businesses require electricity supply 24/7.

One way to manage the electricity supply in your commercial property is to have backup power. Its maintenance and fuel cost would be an additional cost but it would ensure continuous power supply to your property.

Of course, you do not want your tenants leaving and potential tenants choosing a competitor just because you do not have backup power. Therefore, it is wise to invest in generators and ensure constant supply to your commercial property.

Monitoring

Another way of effectively managing electricity supply as a commercial landlord is to invest in electricity monitoring technology in your property. This will ensure efficient and easy monitoring without much hassle.

Electricity monitoring is a good way to know several things. Knowledge of things such as the amount of electricity used by each tenant, which equipment uses the most electricity, idle electricity usage, etc are things that a commercial landlord must know.

Solar Panels

Another effective way of managing electricity as a commercial landlord is to have solar panels installed on your property. A lot of people are investing in renewable energy and it is worth considering as well.

A good idea is to install a retrofit commercial roof with solar panels. This would ensure a more durable and stronger roof that would withstand the wear and tear caused by solar panels and other natural factors.

Having solar panels at your commercial property would give you two great benefits. One, you would get a regular electricity supply. Second, you and your tenants can save on electricity costs.

Implement Policies

A sustainable and cheaper way of managing electricity at your commercial property is to implement policies that ensure electricity savings.

Policies such as checking on equipment and lights working idle and defining temperature settings and lighting schedules are some policies that you can make.

However, only defining these policies would not make much of a difference. As a commercial landlord, you have to make sure that these policies are followed and implemented by tenants at their respective offices and businesses.

It is important to make people aware of saving energy and using renewable sources of energy. Only then can we be environmentally responsible.