We are all aware of the challenges facing us when it comes to the future of our planet. We all recycle and do our bit to reduce our impact on the environment, but if you are an existing landlord or are considering renting out your property in the future, adopting an eco-friendly approach could help ease your conscience – and your purse strings!

 

In the race to protect the future of our planet, the Government is set to get tougher on the efficiency of rental properties. From 2025 EPC ratings in a rented property will need to have a certification rating of C or above. And so, updating your investment property’s energy efficiency is not just the right thing to do but will soon be a legal requirement!  Here we discuss the simple steps to ensuring a more efficient rental property, and how to get maximum benefit from your eco-investments.  

Top tips for a greener investment property:

  • Insulate: Wall or loft insulation stops heat escaping and is very cost effective. Whether you have a wall cavity or not, there are many ways to insulate your property more efficiently.
  • Exclude draughts: By limiting the cold air that gets into your property you also limit the amount of heat that escapes. Repairing or replacing windows can make a huge difference, especially when you consider that up to 18% of heat loss occurs through windows! A refurbished or replaced window will not go unnoticed.
  • Replace the boiler: A fast way to boost the EPC rating is to upgrade to a more efficient boiler. This can mean a large initial outlay but will mitigate the potential call-out and repair costs associated with running an older boiler.
  • Solar panels: If you wish to go a one step further in establishing greener credentials, solar panels can be a greater step forward in this direction. They will also reduce bills, so if you have an inclusive-bills tenancy, it could directly benefit you as the property owner.

Why it benefits you to be a greener landlord:

  • Reduce void time: Properties with better EPC ratings are more attractive to potential tenants. The EPC rating is displayed on lettings adverts and will not just be important to eco-conscious tenants, but also economically conscious tenants!
  • Increase interest and yield: Especially for tenancies which exclude bills, a property which is cheap to run is more likely to spark people’s interest and could mean you have more than one tenant vying for your investment property.
  • Low-maintenance property: A more energy efficient property will reduce the risk of damp, mould, and condensation, reducing repair and maintenance costs. These will also lead to a more comfortable standard of living for the tenant.

We hope this blog has helped you to see identify easy steps you can take to improve your investment property’s energy efficiency. Every investment you make in energy efficiency will improve your tenant’s situation and will also protect and likely enhance your investment. And, don’t forget, these ratings also factor into a property buyer’s decision-making process. So, when you come to sell your property, the changes you make now could have an added benefit later.

James Richards is Director of Maddisons Residential, a leading, award-winning independent estate agent based in Tunbridge Wells, offering expert advice on all aspects of sales and lettings, combined with excellent customer service.