Spending money to make your rental property more energy efficient may not be at the top of your list of priorities. However, investing can make your rental home more appealing and help avoid future maintenance costs and issues such as damp. Tenants are becoming savvier and as more estate agents list the energy rating of properties in adverts, a good energy rating has never been such a valuable selling point. Older properties overall are likely to be the most inefficient but there are still plenty of ways to reduce energy wastage and save money in the process:
1. Heat Settings
If you have a central heating system whether it’s gas, LPG or oil fired, thermostats are a great way to prevent your home from getting too warm. Ensure that your tenant knows how to use the thermostat so that they can get the best use of the timer system.
2. Smart Meter
A great way for your tenants to keep track of their energy use is to install a smart meter. They allow you to track your energy consumption and eliminate the need for those pesky meter readings. The UK Government plans for every home and business in the UK to have a smart meter for electricity and gas by the end of 2020, so by installing one now you will now, make sure you are ahead of the trend.
Ensure that all your lighting is energy efficient. LED lights, can last up to 25 times longer than traditional bulbs which will save on maintenance costs or your precious time. Don’t forget, you should always think about fitting occupancy switches that have an automatic on/off switch, particularly useful for communal areas.
Many older homes have fiberglass insulation which is not as efficient as expanding foam. Once you’ve updated your attic, eaves and wall you’ll see a significant saving in heating costs and an increase in your energy rating. Also, there are plenty of energy efficiency grants available for landlords.
5. Stop Draughts
Check cold air out and warm air in by blocking holes and stopping draughts. Check for gaps around windows and doors and use weather stripping and draft excluders to stop air leakage.