Property owners that rent out to tenants need to be economical with their given space. Area by square footage is costly, especially in large metropolitan areas like New York City, New York and Boston, Massachusetts.
Those that want to make the most out of their given space, as well as provide the best utilities to their renters, should consider installing an electric tankless water heater.
Space is costly, so use it wisely
If you have a storage water heater in your apartment building's basement then you've probably already recognized two issues – there isn't a lot of room to move around and getting it out will be a hassle. Storage water heaters are bulky in an era where everything is tiny and compact. Phones. Computers. It's all compact in order to use space effectively. Storage water heaters are technology that doesn't follow this modern day addendum.
"Save space and boost energy efficiency with a tankless water heater."
Electric tankless water heaters take up barely any space, as they fit right on the wall in the basement. Property owners can actually rent out the basement for storage purposes, and put an electric tankless water heater in the utility closet so the water has to travel less distance and they can make money off of the abandoned space.
New NAECA guidelines that came out in early 2015 will mean that moving forward storage water heaters will be even bigger than they are now. They will need to keep growing to keep up with the advancements on energy efficiency being made by electric tankless water heaters. It doesn't make sense to stick with the outdated systems. There's no more rotary dials because keypads made it more efficient, and the same can be said for electric tankless water heaters.
Improve lifetime and save tenants money
Electric tankless water heaters do two things better than their predecessor:
- Storage water heaters last 10 to 15 years, according to the Department of Energy. Electric tankless water heaters last 15 to 20.
- Electric tankless water heaters save at the minimum $100 a year on the utility bill once being installed.
With this in mind, the decision to switch should be easier for apartment building owners. Not only will they save much needed space in the basement for storage, but a wave of economically-inclined benefits will come through as the result of switching to a far superior water heating system.