While making energy efficiency improvements can increase the value of their property and widen its appeal to tenants, it can be tough for landlords to invest in making their properties greener while still managing ongoing maintenance and rising mortgage interest.
Severn Wye Energy Agency experts say that improving energy efficiency in the private rented sector is essential to combatting fuel poverty, reducing UK energy demand and meeting net zero ambitions — while also keeping tenants secure in their homes and landlords secure financially.
According to government statistics, 35 per cent of fuel poor households in England are in the private rented sector, equating to just over 1.1 million homes — putting private renters among the most vulnerable demographic in the energy crisis.
Landlords that Severn Wye has spoken to say that it can be hard to know where to start, as there is a lack of good, independent advice on what measures to invest in. Cavity wall insulation, for example, is widely available, but without expert advice it can cause more problems than it solves.
To navigate this uncertainty, Severn Wye can give landlords a clear idea of where savings can be made, along with a practical roadmap for making the right changes in the right order.
It offers bespoke energy advice during in-person surveys and can explain what's actually possible and practical for landlords' individual rentals — as well as recommend measures that would improve EPC ratings.
Research from Paragon Bank found that up to 37 per cent of landlords have already made moves to improve their portfolios by making them greener; and nearly one in three already own properties that meet the EPC C standard.
But 16 per cent of landlords say they are waiting for a renewed government push on energy efficiency before investing in improvements.
Incentivising landlords to invest in sustainability measures now, Severn Wye also offers a free energy efficiency survey, report and extensive support — a service worth £650 — to landlords with rental properties in Gloucestershire, as well as properties rated EPC F and G in South Gloucestershire, to comply with the minimum efficiency standards.
Buying a new property that needs upgrading or experiencing a gap in a tenancy are ideal times to review a rental's EPC — so having an energy efficiency report and recommendations on hand ahead of a tenant giving notice means landlords can plan ahead to carry out improvement works as efficiently as possible, in order to minimise tenancy gaps.
For more information on this initiative from Severn Wye and to apply for a free energy survey and report, visit severnwye.org.uk/sga.
Current tenants can also get help and advice on finding funding to put towards energy efficiency improvements, where eligible, by visiting warmandwell.co.uk.
