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As of April 1st, tenants now have the right to ask their landlord to make their property more energy efficient. Landlords will not be able to refuse, but tenants must find a way of funding the cost of the energy efficiency improvement at no extra cost to the landlord.
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So if your tenant demands that you install uPVC double-glazing, you don’t have to fork out several thousand pounds – unless you want to!
Funding Options for Energy Improvements
Funding energy improvements could prove to be the sticking point in this new scheme. Originally the government’s Green Deal initiative was supposed to provide funding for such improvements, but this has been scrapped. However, there are different funding initiatives available, so if your tenant does make a request, it is worth looking to see if there is any cash available.
Attract New Tenants
Energy efficiency improvements could help you hang on to your existing tenants and attract new ones. According to a National Landlords Association survey, more than third of tenants consider energy efficiency to be very important when they are looking for a rental property.
“We encourage all landlords to think about how they may benefit from making energy efficiency improvements, as many can be made with little or no upfront cost, and can have a positive impact on the lives of tenants, their lettings businesses, and the environment in general. Lower fuel bills and more comfort mean that tenants may be inclined to stay for longer, thus reducing void periods.”
