The UK may be enjoying a spate of blistering heatwaves this summer, but the importance of energy efficiency to tenants is now an all-year-round issue, rather than just a concern when the weather cools down and the heating cranks up.
It means that energy efficiency is increasingly creeping up tenants’ wish lists of features they want to see in their rental property, and landlords should respond to such changing demands.
Lower energy bills
The ability to save money is a major driver for tenants to seek energy-efficient properties. The Middle East conflict drove up energy prices once again this year and consumers are increasingly sensitive to movements in energy costs, having already lived through the energy crisis that previously hit in autumn 2021. An energy-efficient property helps them reduce costs and their exposure to market volatility in wholesale energy prices, protecting their budgets at a time when inflation is already straining finances.
Increased comfort
Energy-efficient measures, such as better insulation and double glazing, help ensure properties retain the heat generated by heating systems in the winter, but also enable properties to stay cool in summer.
They can offer a more comfortable living environment too, with such homes less likely to suffer from damp, mould and problems with condensation – so long as there is sufficient ventilation in the property.
And who can deny that cuddling up in a cosy, warm property with an efficient heating system that kicks in immediately isn’t one of life’s great comforts when the weather does get cold and the nights draw in?
Helping tenants do their bit for the environment
An increasing appreciation of the environmental impact of energy waste is also fuelling tenant preferences for energy efficiency. While saving money might be the primary motive, many tenants will also be looking to reduce their environmental impact as the UK pushes towards net-zero goals, with a preference for more energy-efficient white goods and other household fixtures, such as lighting.
Getting ahead of EPC C upgrades
By 2030, landlords must upgrade their rental properties to an energy performance certificate ranking of C. That deadline may still be another four years away, but tenants will want to enjoy the benefits of a more energy-efficient property now. Plus, if the work has already been done to achieve an EPC C rating tenants know they don’t face the disruption of work yet to take place.
Improved housing quality
Energy-efficient measures also show that a landlord cares about providing a quality housing offer for their tenants and that they are compliant with current legislation and willing to work towards forthcoming legislation, such as the introduction of the EPC C minimum rating by 2030 and the debut of the Decent Homes Standard to the private rented sector as part of the Renters’ Rights Act from 2035.
Offering an energy-efficient property isn’t just good for your tenants’ sake. It helps protect your investment, bolster landlord reputations and attract and retain tenants longer-term.
We Can Help
At Progressive Lets we are experts in the rental market in the Peterborough area and help landlords find and manage properties within a 50-mile radius. We are also an HMO specialist. Get in touch to find out more.
