Fuel prices have risen. Electric rates are unpredictable. And so, more and more people are looking for a more sustainable lifestyle, aka living in an energy efficient home. But what does this mean for landlords?
For landlords, there are two major reasons why ensuring their properties are energy efficient, is a must. The first being that the majority of tenants look out for energy efficient properties.
So an energy efficient property is more desirable. And, the second being that if you cover the cost of utilities yourself, like energy bills, then making your properties energy efficient will save you money.
Whether it is something big like installing solar panels or something a little smaller like replacing the boiler with a more energy efficient version. When you reduce the amount of energy used, you save money.
There are various steps you can take to ensure that your rented properties are more energy efficient. Some are one-time investments, like double-glazed windows, and others are smaller, less noticeable changes.
To help you ensure that your rented properties are as energy efficient as possible, we have put together a handy guide below:
Ensure each property is well insulated
Adding new insulation to your loft can help to prevent warm air from escaping and cold air getting in through leaks or holes. This helps to reduce the properties heating costs and energy usage.
Loft insulation will also help to keep your property cool in the warm summer weather and will reduce the need for your tenants to use air conditioning.
Both of which, use a lot of energy.
Invest in double or triple glazed windows
You may not realise it, but windows are one of the leading causes of heat loss in properties. Especially, single glazed windows.
Get a quote for replacing the windows in each of your properties with double or triple glazed alternatives. Double glazed windows are fantastic for keeping the heat in, as the gas between the two panes of glass acts as an insulator.
Replace old appliances
Older appliances tend to be less energy efficient than newer models, so it makes sense to replace them.
The amount of appliances you will need to replace will depend on whether you properties are offered on a furnished basis. In all properties, replace the stove or cooker, as well as the boiler, and get insurance to cover it. In furnished properties, replace the refrigerator, washing machine and tumble dryer with newer models.
Consider adding solar panel to properties
Adding solar panels to your properties will significantly reduce your energy costs. However, they can be quite expensive to buy and have installed, so it might be a good idea to do one property at a time.
To get an idea of prices, have a look online and get in touch with a local solar energy company for a quote.
As a landlord, there are plenty of ways you can increase the energy efficiency of your properties, save money, and increase your properties’ desirability.
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