With the COP26 event taking place in the United Kingdom in early November, it is natural that many people are placing a greater focus on energy-efficiency. However, for some people, this is something which lies at the heart of everything they do.
It is vital landlords are aware of the demand for energy-efficient rental property, and a recent study has reinforced what matters to tenants in these issues. If you are looking for help in providing a greener rental environment, rely on David Harris & Co, and we will be more than happy to assist you.
Tenants want a green rental lifestyle
A new survey by an online letting firm found an interesting range of answers when it comes to the rental market and energy-efficiency:
· 98% of tenants say they would prefer to live in an energy-efficient home
· 52% of tenants would be willing to pay an additional 10% to live in this style of property
· 33% of tenants said they would be happy to pay an additional 5% in rent to live in this style of property
· 8% of tenants said they would be happy to pay an additional 20% to live in this style of property
· 85% of tenants say they would be happy to consider a “green lease”
· 95% of tenants expect their rental property to have double glazing
· 92% expect their rental property to have loft or wall insulation
· 92% of respondents expect recycling bins at their rental property
· 73% of respondents expect LED lightbulbs
· 56% expect smart meters in their rental property
· 50% of tenants expect dual flush toilets
· 38% expect smart thermostats
· 26% expect solar panels and ground source heating
Jonathan Daines is the founder of the company behind the survey, and he said; “We’ve heard a lot recently about the cost to landlords of making their properties greener, from replacing gas boilers with heat pumps to installing insulation. This survey has revealed that tenants are prepared to play their part too, with over half of renters happy to pay more for greener homes. It is overwhelmingly clear that tenants are demanding greener choices than the rental sector currently offers.”
Jonathan continued by saying; “Clearly, renters know what they want when it comes to green credentials. And while many landlords can’t afford solar panels or heat pumps, smaller eco improvements can help properties stand out and increase renter appeal. Landlords should be mindful of this sentiment and take any steps they can to make their properties greener.”
This is also the case in London
We know the London rental market stands apart from the UK market, but it is fair to say many tenants in the capital want an environmentally-friendly rental property too. We aim to provide you with as much support and guidance as we can, so if you are looking for any help on providing a greener rental property, please get in touch.
Jonathan Daines, concluded by saying; “The pandemic has, quite understandably, occupied a large share of our attention over the past 18 months. However, instead of drawing attention away from environmental issues, it has helped us to take a new look at human health, including the need to support it in the longer term by facing our environmental responsibilities head-on. These are all small steps, but they quickly add up, ensuring that landlords can ‘do their bit’ when it comes to working towards a greener world. Those looking to go the extra mile can consider green leases too, where environmental obligations between the landlord and tenant become contractual, encouraging both parties to do what they can to make the property more sustainable.”
If you have any questions about the housing market, or you need assistance, please contact David Harris & Co today. Call us on 0208 346 9122.
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