Making your property energy efficient is a great idea for several reasons. It cuts down energy bills and saves your tenants money, making the rental p
Making your property energy efficient is a great idea for several reasons. It cuts down energy bills and saves your tenants money, making the rental property more appealing to prospective tenants. It makes your property far better for the environment, as properties that are not energy efficient waste a lot of power. It can also increase the value of your house as energy efficiency is something potential buyers take into account if you come to sell the property in the future.
A Legal Requirement
It is also a legal issue and due to recent changes, it is now essential that properties are energy efficient. Since the 1st April 2018, properties that are let out by landlords are legally required to have an EPC rating of E and above. A potential fine of £5000 per property has been introduced for landlords who fail to meet energy efficiency standards. This new legislation means that almost 300,000 properties in the UK will need to improve their EPC ratings. Tenants have had a legal right since 2016 to request energy efficiency improvements in their property too.
Consider Double Glazing
However, landlords don’t need to be alarmed, as there are a number of easy ways you can make your rental property more energy efficient. One popular way to reduce heat loss immensely is making sure your property has double or triple glazing. Though this is an extensive job, it improves the value of your house, lasts for a long time, and reduces the amount of energy your property loses.
Look for a Sustainable Property
Another way to make sure your rental property is energy efficient is investing in a sustainable new development. Environmental concerns are high up on developer’s agendas these days and new build developments where sustainability is at the heart of the project are becoming far more common. A great example of an eco-friendly development is the new West Point Manchester, sold by RW Invest. This high-end apartment building features low carbon technology, 100% energy efficient LED lighting, underfloor heating, solar panels, an air source heat pump and even a state of the art heat recovery ventilation system. For landlords looking for a new property, choosing an energy efficient modern apartment is a great idea.
Use Energy Efficient Technology
There are other easy eco-friendly improvements that landlords can make in order to make their property more energy efficient. These include replacing light bulbs with LED ones that last for longer and use less energy. Having up to date appliances with energy efficient technology is not only better for the environment, but it can also reduce running costs and appeal to more tenants. Older appliances are often terrible in terms of energy efficiency so this is a small and cheap way you can improve your energy rating.
Install a Smart Meter
In a recent study, 55% of renters asked said they would prefer a rental property with a smart meter if it was the same price as a comparable property. When asked what features they were looking for in a property, 32% said they would like a smart meter included, compared to just 19% who said wireless broadband! A smart meter is a cheap and easy way to help your tenants use less energy, cut down on bills and be more satisfied with their property.