The benefits of creating a more sustainable rental property
In addition to the requirement to become more energy efficient to achieve minimum EPC standards, there are other reasons to make your rental properties more sustainable.
Even if the environmental benefits are not compelling enough for you, there is evidence that ‘greener’ homes are more attractive to potential tenants. This is particularly the case for those under the age of 40, with up to 50% wanting more to live in more sustainable homes, according to a survey by Eurocel.
Attract generation rent
The impact of climate change is a concern for many in this age group, which is important as research shows that up to 1/3rd will live in rented accommodation for their entire lives. So it would appear that the benefits are clear.
However, some properties are going to be easier to improve than others, the older the property the more work you will have to do.
An airtight solution for energy efficiency
The more escape routes for warm air, the less energy efficient the property is likely to be. Air can get out of older properties in a number of ways;
· Gaps in floorboards
· Breathable plaster walls
· Older slate roofing
· Chimneys
It is not just about warm air escaping it is also about air moving around, which makes tenants want to heat the property for longer.
Where does all the heat go?
20% of a home’s heat is lost through the roof and 10% through the floor. Modern insulation can address leaky roofs and replacing or sealing older floors will reduce loss through the ground. Double glazing is a must and to go the extra step consider getting your properties triple glazed.
Hydrogen power!
There are a number of options when you are ready to upgrade the heating provision in the property. Perhaps the best known one is solar-panels. They remain a fairly expensive option (although the price has reduced by over 50% over the last few years). However in addition to being more sustainable they have the added benefit of reducing energy bills.
The other well know option is a heat pump. These can be ground sourced or air sourced and will cost from £6,000. They are an energy efficient way to heat a property, although they are not suitable for every property.
Perhaps less well known are hydrogen boilers, which are a carbon neutral method of heating, which can be run using the traditional energy distribution methods and installed into properties with less disruption panels or heat pumps.
Eco-friendly white goods
On the journey to create a more sustainable property it is also important to consider what is in it as well as the structure. The fixtures you install will have a big impact on energy usage and manufactures have now developed more environmentally friendly white goods, with the potential to reduce both the carbon footprint and the electricity bills.
It is also important to remember that the impact of reducing water usage can be overlooked. There are also bathroom fittings, such as eco shower heads or dual flush lavatory can also save between 40%-50% more water.
Don’t forget the outside
To go the extra mile, support your tenants by putting in place everything they might need to be as sustainable as possible. This can be as simple as arranging with the local authority for enough recycling bins, to providing composting bins in outside spaces.
