How to create a dream home for eco-friendly tenants
The UK is more environmentally aware than ever. In fact, in 2017, the UK spent over £83 billion on ethical consumer goods. Young people are particularly motivated by environmental causes, with 61 per cent of millennials saying they would pay more for sustainable products, compared to 46 per cent of baby boomers.
Food and fashion are the two sectors most affected by this new drive towards a more eco-friendly form of consumerism. But the property rental market has also been affected. In fact, research conducted last year found that 42 per cent of tenants take into consideration how eco-friendly a property is when choosing a rental property. This figure increases to 50 per cent for tenants in London.
Interestingly, tenants who paid a higher monthly rent were more likely to take the building’s green credentials into account than those who paid less. This makes energy efficiency a key concern for landlords who are trying to attract wealthier tenants.
In this article, we’ll look at a few ways in which landlords can make their properties more appealing to eco-friendly tenants.
Achieve an Energy Performance Certificate of E or above
Your first port of call is to make sure your property achieves an energy efficiency rating of at least E, which is the mandatory energy efficiency for rental properties in the UK. Ideally, you’d be looking for D or higher to attract eco-friendly tenants. Here are a few quick and easy ways to improve your EPC rating.
Upgrade your light bulbs to LED
If your property still has halogen or incandescent bulbs, replace them with the much more energy efficient LED light bulbs. They’re available in most places you can buy ordinary bulbs, use the same fittings as traditional bulbs, achieve a higher brightness per wattage than previous models and have a lifespan of 10 to 20 times their predecessors. It’s a no brainer.
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Insulate the walls and roof
Loft insulation is a great way to improve energy efficiency and bring down heating costs. The Energy Saving Trust recommends insulation of at least 270mm depth in order to have the desired results.
If your home has cavity walls – walls which consist of two external walls with a small gap between them – you may also want to fill the cavity with foam insulation to improve heat retention.
Install double glazed windows
Most rental properties will have double-glazed windows installed, but if yours doesn’t, it’s worth addressing.
Not only do they retain heat better, they’re quieter and more secure than single-glazed.