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Want To Find the Perfect Temperature? Smart Thermostats for Heating Systems Are the Answer

With New York aiming for net-zero greenhouse gas emissions, property owners are in need of tools that help them meet new climate regulations. While significant investments, such as solar panels and upgraded HVAC systems, can help, many owners are looking for less expensive ways to make a difference.

Enter the smart thermostat. With numerous features and general affordability, a smart thermostat for heating systems can benefit property portfolios in many ways.

The Many Advantages of a Smart Thermostat for Heating Systems

Improved Energy Efficiency

Smart thermostats use built-in WiFi and features to adjust the temperature needs and settings of individual apartments or units. For example, tenants can create custom settings that adjust for when they are home or away.

Property owners can benefit from the more autonomous features of newer smart devices. Some thermostats can sense the humidity level in an empty unit and adjust temperature settings accordingly. The result is less expense per tenant and property owner and more efficient properties.

Prolonged HVAC Lifespan

An HVAC system is a significant expense, and it is beneficial to get the most out of a system before needing to replace it. Unfortunately, many HVAC units take considerable abuse in the summer and winter months because tenants and property managers use the systems non-stop.

Because smart thermostats adapt to tenant schedules and adjust for empty units, they help control the demand on a system, prolonging its life. An air conditioner should provide around 15 years of use, and a well-cared-for furnace or boiler should last up to 20 years or more.

Better Indoor Air Quality

A smart thermostat for heating systems can also improve indoor air quality. While a typical HVAC system can reduce the spread of germs and filter the air, the smart thermostat contributes to a more sanitary environment.

Depending on the model, smart thermostats can monitor the moisture level of the air inside the building and individual units. When the device senses excessive dryness, it can cycle off to allow some humidity to build. If it senses a high moisture content in the air, it can cycle on to reduce it, limiting the probability of mold or fungal growth.

Also, many smart thermostats offer alerts and notifications about system needs, such as filter replacements. Property owners or managers can get these notifications delivered directly to their smart devices.

Accessible Analytics

Besides notifications and alerts, some smart thermostats also provide in-depth reports on HVAC use. The detailed reports allow property owners to assess energy cost fluctuations and use patterns.

If you cover the energy costs for tenants, knowing how they use the thermostat can help you manage heating and cooling schedules. With proper management, you can significantly reduce expenses and adjust your property’s carbon footprint. If your tenants are responsible for their utilities, a smart thermostat for heating systems is an attractive tool to help them reduce expenses.

More Competitive Real Estate

Whether tenants are responsible for their energy costs or not, smart thermostats increase the value of your property. Many renters want to embrace eco-conscious living, including reducing their carbon footprint.

While a smart thermostat is only one device, it helps demonstrate a property owner’s willingness to embrace change and work toward an environmentally-friendly future. Also, most New Yorkers are aware of the regulatory shifts, including Local Law 97, and prefer to support properties complying with the changes.

Besides regulatory compliance, renters want to live in a place that will save them money. Smart thermostats offer the same cost-cutting benefits to renters as they do to owners.

More Profitable Rentals

While a smart thermostat is only one factor, installing modern amenities and technology in rental units increases their value. Smart devices improve the quality of life for residents, which means you can cover some of the installation expenses through higher unit rates.

The Potential Drawbacks of a Smart Thermostat for Heating Systems

Compatibility

One of the potential drawbacks of smart thermostats is not every device is compatible with every system. While you might find some models that claim universal compatibility, they likely won’t have all of the valuable features you are after.

Before purchasing a smart thermostat, read about the c-wire requirements. Most major brands (Ecobee and Nest are two leading manufacturers) can connect to most HVAC systems. Still, high voltage wiring of 120V or 240V is incompatible with many thermostats, as are wires that use multiple strands.

For most residential properties, the limitations shouldn’t be a significant issue. Most residential properties use low-voltage wiring, which is ideal for the device.

Learning Curve

Smart thermostats have a learning curve, which may be challenging for less tech-savvy tenants, managers, or owners. While most people can get minor benefits from the devices, getting familiar with all the ins and outs will take time.

Someone unfamiliar with the thermostat features may find accessing reports and programming schedules challenging. Thankfully, installers can help tenants and property owners learn the basics. As with most tech, the longer you spend learning about the device, the more you get out of it.

Expense

A smart thermostat for heating systems is more expensive than a traditional thermostat. A genuine smart thermostat can set you back $450 to $1,200, including installation, which is significantly more than a regular thermostat.

While the price for an individual thermostat seems steep, the advantages of the device means it can recoup those costs. In fact, between reduced energy costs and higher rental fees, the thermostats may pay for themselves tenfold. Still, you must decide for yourself whether they are worth the initial investment.

The Correct Smart Thermostat for Heating Systems for Your Property

Consult Bolt Electric

New York City and New York State are moving toward zero emissions by 2050, and as a property owner, you need to get on board the progress train. While complying with new regulations is costly, it is a small price to pay for the future savings and benefits of an emissions-free society.

A smart thermostat for heating and cooling management is only one tool to aid in compliance with new building codes. Contact Bolt Electric at 212-734-5000 to discuss smart thermostats and schedule an installation consultation.