Landlords & Renters
Upgrade Your Older Apartment Building With Incentives That Can Change the Math
State and utility incentives can cover most or even all of the cost of energy-efficiency upgrades for your rental property.
Rental homes tend to show the effects of deferred upgrades quickly. Uneven temperatures, drafty rooms, rising utility bills, and aging equipment all add up. For landlords, that often means more tenant complaints, more maintenance calls, and more pressure to fix problems on short notice.
The right upgrades address those issues at the source. Improvements like heat pumps, insulation, air sealing, weatherization, better windows, and efficient water heating reduce wasted energy while improving comfort. GreenSavers takes a whole-home approach, looking at how everything works together instead of treating one symptom at a time.
Find out what your building qualifies for by sending us a quick email. We'll go over your property details and start matching you with programs.
Better comfort for renters. Better long-term value for landlords
Renters usually feel home performance issues first. A home that is hard to heat or cool, noisy, or drafty affects daily life right away. When upgrades are done well, the difference is noticeable. More consistent temperatures, better air quality, and lower monthly utility costs.
For landlords, those same improvements support long-term property value. Better insulation, air sealing, and efficient systems reduce wear on equipment and help create a more reliable, lower-maintenance rental over time.
Own an older multifamily building?
If your building still uses electric baseboard, cadet, or PTAC heating, you may qualify for substantial energy upgrade incentives. We help you stack state and utility programs to reduce upfront costs and make projects financially viable.
Our focus is simple: upgrades that actually pencil for owners while improving comfort for tenants.
Upgrade Packages
Here’s what typical multifamily upgrades can look like when incentives are applied:
Large Multifamily Buildings
| Upgrade | Base Cost | Incentives | Estimated Out-of-Pocket |
|---|---|---|---|
| Heat Pumps (heating + cooling) | $8,100 per unit | -$7,800 | $300 per unit |
| Insulation + Ventilation | $4.50 per sq. ft. | -$4.50 | $0 per sq. ft. |
| Water Heaters | $5,000 per unit | -$2,500 | $2,500 per unit |
Small Multifamily Buildings
| Upgrade | Base Cost | Incentives | Estimated Out-of-Pocket |
|---|---|---|---|
| Heat Pumps (Heating + Cooling) | $10,000 per unit | -$5,000 | $5,000 per unit |
| Insulation | ~$4.50 per sq. ft. | -$4.50 | $0 per sq. ft. |
| Water Heaters | ~$5,000 per unit | -$700 | $4,300 per unit |
What this means for your building
These upgrades can help you:
- Add modern heating and cooling to every unit
- Reduce maintenance and tenant complaints
- Lower operating and utility costs
- Improve comfort and building performance
When incentives are applied correctly, many projects require little or no upfront investment.
Start with the right upgrade
Sometimes the next step is straightforward, like replacing an aging furnace or water heater. Other times, the underlying issue is bigger than one system. High utility bills, hot and cold spots, or ongoing comfort complaints often point to a combination of insulation, air leakage, ventilation, and HVAC.
That’s where GreenSavers comes in. We help you understand what the home actually needs, which upgrades will have the biggest impact, and what a practical path forward looks like. Whether the goal is better comfort, lower energy use, fewer maintenance issues, or a smarter long-term plan, we help make the next step clear.
Frequently asked questions
Is my older apartment building a good candidate for HVAC and insulation upgrades?
What incentives are available for Oregon multifamily buildings?
Can incentives cover most of a multifamily energy-upgrade project?
Why combine heat pumps, insulation, and ventilation in one project?
How does GreenSavers help building owners complete a multifamily retrofit?
