How to keep your tenants warm this winter
Since April 2018, private rented sector landlords have had to make sure their rental properties meet new energy efficiency standards.
As of April, landlords cannot legally let to a new or renewal tenant a property that achieves less than ‘E’ as an EPC rating.
The Energy Act will cover new residential property leases from April 2018 and be extended to existing contracts in 2020. Additionally, landlords are not able to refuse a tenant’s request to make the property they live in easier and cheaper to keep warm.
These new rulings have affected many properties in the private rented sector and are good news for tenants, but they can deliver benefits to landlords as well. Making a rental property more energy efficient makes sound commercial sense. Not only will it be more desirable to tenants and reduce the risk of void periods, cutting a tenant’s energy bill reduces the chance of them not paying the rent.
And properties that are warm are less likely to develop faults such as damp, condensation and mould, which can cost a landlord both time and money.
With the new legislation now in force, it’s less important to consider other ways to make sure your tenants have a warm, comfortable property this winter, but there are still ways to keep winter fuel bills to a minimum.
And with outside temperatures dipping and likely to fall far lower before spring next makes an appearance, now is the time tenants should start seeking ways to reduce their heating bills. Here’s some handy advice…
10 ways tenants can reduce their winter fuel bills
- Draw the curtains as soon as it starts to get dark to stop heat escaping through the windows.
- Fit draught excluders around interior doors and windows.
- Don’t cover radiators with curtains or washing.
- Don’t overheat your home. Turning your thermostat down by just one degree could save up to £65 a year. Keeping your heating on a constantly low heat could potentially save more money than switching it on and off for big blasts of warmth. This is where getting to know and understand the timer settings on your thermostat will really pay off.
- Only heat areas of the house you use. If your home has individual radiator controls, turn off the heating in the spare bedroom and keep radiators running at a lower temperature in hallways and landings.
- Placing an insulating jacket over your hot water tank can save up to £15 a year.
- Don’t leave your appliances on standby as they still use electricity. You can save up to £37 a year by turning appliances off properly.
- Only boil the water you need rather than filling the kettle to the top.
- Fit all the lights in your home with energy-saving lightbulbs. While these do cost more to buy, they could save up to £50 a year.
- Try to only use a washing machine or dishwasher when it has a full load. Washing at 30C rather than 40C can save a third of the cost to run the cycle, while setting a dishwasher to economy mode will use less water and electricity.
Assetgrove is committed to helping landlords comply with the Energy Act. Our rent guarantee scheme not only offers landlords up to five years’ guaranteed rent, we will manage every single aspect of the tenancy during this period – with no monthly fees, commissions or hidden surprises to pay for.
Assetgrove’s maintenance packages free up your cash flow, allowing essential works to be done to your property with no upfront fees. We will fix, decorate or refurbish your property – at an agreed fee – and you can spread the cost with easy manageable repayments.
For more information about our guaranteed rent scheme, contact Assetgrove now.