It's fair to say renters in 2023 know what they want.
So, as a buy-to-let landlord, standing out from the crowd can be hugely important when looking to attract good tenants to your property and keep them happy.
With environmentally-conscious millennials forming such a huge part of the private rented sector, a landlord who is equally as environmentally-minded can be a big plus.
But it's one thing having environmentally-friendly ideas and another implementing those ideas in a cost-effective way to impress all those millennial tenants...
Here are five ways you can make your property sustainable on a small budget, saving money in the long-run and keeping those eco-friendly tenants happy.
Bring the outdoors in
Okay, we're not talking about turfing your living room.
But did you know that bringing plants into your property could help improve the air quality for your tenants?
In simple terms (this is where we find out whether you were paying attention in science at school!), plants soak up carbon dioxide and release oxygen through photosynthesis, purifying the air while also sucking up various pollutants.
They look great, too, and can have a calming influence on your tenants.
Look after your boiler (and your boiler will look after your tenants)
Regular boiler checks should be part of any landlord's routine maintenance schedule.
Not only will looking after your boiler save you money in the long term, it can also help lower those heating bills and the carbon footprint of your property.
Moreover, lowering the boiler's temperature setting by just a degree or two can help increase its life span and keep those bills down for your tenants.
Part of the government’s push toward net zero by 2050 includes changes to rules on the Minimum Energy Efficiency Standard (MEES) for privately rented homes in England and Wales.
Currently, the MEES is an EPC rating of ‘E’. That means properties with an ‘F’ or ‘G’ rating can’t legally be let, so it is important to take action now.
New tenants must have an Energy Performance Certificate (EPC) rating of "C" by 2025 to comply with MEES, which will affect all tenancies by 2028.
Away from the legislation requirements, one of the best ways to minimise heat loss from your property and make it more eco-friendly for your tenants is to ensure your roof, floor and walls are fully insulated.
Not only will this help with that EPC rating and the sustainability of your property, it will also help keep your tenant's heating bills down.
Let there be (sustainable) light
Energy efficient lightbulbs have been around for a long time. But many people still choose to use traditional lightbulbs.
The energy efficient options do what they say on the tin, but they also last longer than traditional bulbs meaning a saving on replacements for either you as a landlord or your tenants.
If you are furnishing your buy-to-let property, consider using second hand or up-cycled furniture from a vintage store or second hand shop.
The upcycling trend shows no sign of slowing down, so not only will you be helping the environment by reducing plastic and cardboard packaging and saving money on costly furnishings, you'll be creating a trendy, unique home for your tenants to live in.
A win-win situation for all!
Looking for advice on how to make your property appeal to more tenants? Speak to one of our property experts today...