MoneyMagpie

Jul 19

How can you save on the energy bills in your rental property?

With Britain enjoying a reasonably (by our standards) hot summer, one could be excused for thinking more about sunny beaches than energy efficiency.

The fact is, however, many property owners could save hundreds of pounds per year by making small adjustments to their accommodation and their lifestyle.

For buy-to-let landlords looking to make a good yield from their investment, these changes could make all the difference. But just how can investors keep their tenants warm, and their profits high?

Ryan Weston of Just Landlords offers his top-tips:

Insulate your walls and reach lofty heights: “In terms of saving money on your energy bills, a great way to start would be to insulate your property. Investing in both cavity wall and loft insulation could save you plenty of hard-earned cash throughout the year. Many people believe that this is a measure to keep homes warmer in the winter. However, it works by preventing the passage of heat, usually through walls or lofts. This will stop extra heat from entering your property during hotter periods, making it easier to maintain the temperature without turning on the air-con! Be sure to research thoroughly as you could be eligible for help under a Government approved scheme.

Seal for a better deal: It is estimated that around 20% of all heat escapes from a property through cracks in windows and doors. The best way to prevent this is by using draught excluders and thicker curtains – neither of which will break the bank. What’s more, investing in double-glazing will also help to keep your inhabitants warm and your wallet fuller!

energy efficiency

Practice expert timing: Particularly applicable in winter, leaving your central heating on a timer can be a key way of saving money on your energy bills. Setting it to come on for a couple of hours in the morning and evening is certainly more cost-effective than leaving it on throughout the day!

Don’t be on standby: Figures released from The Energy Saving Trust suggest that homeowners could save up to a cumulative £1.7bn per annum by simply turning their electrical equipment off – not just on standby. For landlords, it is important for you to instruct your tenants to turn off the likes of televisions, phone chargers, games consoles and CD players in order to save money. Remember, off means off!

All of these measures will assist property owners in not only saving on their energy bills but also in making their accommodation more energy efficient. For landlords, this is particularly important.

From April 1st next year, landlords will be permitted to ensure that their property has an Energy Performance Certificate rating of at least E. Follow the measures mentioned to ensure that you comply!”

 

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