Energy efficiency is increasingly a focus for tenants looking for rental properties. They may be concerned with their environmental impact and want to reduce energy use, or their priority may be on saving money on bills.
As such, improving the energy efficiency of your property is a win-win for tenant satisfaction. The summer is an ideal time to make changes that could allow your tenants to reduce their energy use come winter, especially as prices are forecast to rise again in October.
Tenants will have a good idea of the energy efficiency of your property when they move in since such detail is in the Energy Performance Certificate that you must issue to them at the start of their tenancy. It can be a deciding factor in the property they choose, with properties requiring a minimum E rating.
According to recent figures from the Energy Saving Trust, average annual energy bills for a typical household in the UK from 1 July to 30 September will be £1,568 a year before they rise again the following month. There are several things you can do to improve energy efficiency. These range from small, inexpensive changes to more costly investments.
Use LED bulbs in light fittings
A product that lasts five times longer and uses 80% less energy to produce the same amount of light is a no-brainer for reducing energy costs and usage. According to the Energy Saving Trust, replacing all the bulbs in your property with LED bulbs can cut carbon dioxide emissions by up to 55kg a year which it points out is the equivalent emissions to those emitted by a car on a 190-mile drive.
Install a smart meter
Smart meters are a great way to help tenants be more proactive in managing their energy usage and changing wasteful, expensive habits. It allows them to see where their energy usage is most intense and therefore helps to identify what changes they could make. These could include anything from taking shorter showers to reducing tumble dryer usage.
Insulate and draught-proof your property
One of the biggest energy-savers for your property will be keeping the heat generated inside when you need it. Loft insulation can cut heat loss by up to a third. Other forms of insulation, such as cavity wall insulation, will also help keep your property cosier.
Checking for other places where heat is escaping will also help to reduce energy usage. Draught-proofing windows and doors could save around £50 a year and can be done inexpensively. Draught-proofing open chimneys can save a similar amount. And, without those pesky draughts blowing through the property, tenants should be able to turn the thermostat down a degree or two when the heating is on.
Fit double-glazing
If your property doesn’t already have it fitting double-glazing really is a must for tenants. Double or even triple glazing is another effective way to reduce draughts and cold spots. It also offers better protection against external noise, reduced condensation (and therefore less risk of damp and mould developing) and greater security.
According to the Energy Saving Trust installing A-rated double-glazed windows in a semi-detached property heated by gas could save tenants up to £120 a year and 380kg of carbon dioxide.
Replacing heating systems
Replacing heating systems, such as old boilers, can seem an unnecessary expense if they are rumbling on satisfactorily. But with the humble boiler responsible for half of the energy spend of tenants each year, installing a more energy-efficient version can make a big impact.
Condensing boilers recover more heat from the exhaust flue gas and use this to heat central heating water. This makes it more efficient than older boilers. You may also want to consider installing a heat pump instead, although this is a more expensive option. Fitting thermostatic valves on radiators will also allow your tenants to better control energy use in individual rooms.
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. Get in touch to find out more.
