With energy prices dramatically rising and households across the UK struggling to accommodate such big increases in monthly bills, many landlords are looking for ways to make their rental properties more energy-efficient and cost-effective for their tenants.
If your accommodation is seen to be 'green' and eco-friendly, you will be more likely to find good tenants who want to stay long term - as they will gain financial as well as environmental benefits.
So how can you increase the energy efficiency of your properties? Tiili explores some of the most popular and effective ways:
Although a large upfront expense, a new and efficient boiler is pivotal in saving on energy, and in turn, helping your tenants to save money on bills. If you don't have a boiler, installing a cost-effective heating system will provide similar benefits. Although an expense, a new boiler would boost your property's energy efficiency rating and increase the popularity of your accommodation.
Install a thermostat
A simple but thoroughly effective way of reducing energy wastage is to install a programmable thermostat. Your tenants will be able to maintain a consistent temperature throughout the home, meaning lower heating bills. It also means the property avoids major cold or boiling hot areas in the house - which can lead to damage or mould. A programmable thermostat will also enable a tenant to program the heat whilst away from the home, so energy usage will decrease.
Ensure windows are double or triple glazed
Were you aware that the average UK home lose up to 10% of its heat via the windows and doors? Therefore, it is vital to ensure your property's windows and doors are at the very least double-glazed, if not triple glazed. this will reduce energy loss and make the home cheaper to heat. New, updated windows also make the property more aesthetically pleasing to potential tenants.
Protect hot water
If your rental property has a traditional water tank, it can be heavy on energy usage. Check the default settings and change to 120 degrees if they have been set higher - as this is a safe setting to produce warm water but save on energy consumption. Another way of saving energy is to purchase a jacket that covers the tank and keeps it insulated.
Change to LED lighting
If you haven't already, you should consider making all the lighting in your rental property LED (getting LED bulbs etc.), which conserves energy, gives good quality lighting, and have long life spans. This means there is less maintenance and upkeep - so the majority of tenants will be more than happy to continue using them.
As with a new boiler, installing renewable energy, such as solar panels or mini turbines can be an expensive initial outlay, but can provide a long-term investment. You can not only earn money from the national grid, but you could reduce your tenant's energy bills to almost non-existent.
Interior design ideas
You could help with energy efficiency by having good quality carpet or rugs throughout the house, heavy curtains for the windows and installing water-saving showerheads.
Tiili can help
As an experienced and knowledgeable letting agent, the team at Tiili can guide you through the best ways of increasing the energy efficiency of your rental property as well as the compliance, regulation and tax implications.
Contact us today for expert help and sound advice.