The cost of living crisis has hit hard in the UK this year. The UK government reacted to this by announcing in September 2022 that households in England, Scotland, and Wales with a connection to the electricity grid will receive a planned £400 discount on their electricity bills, paid by electricity suppliers.
There are around 13 million people in the UK that rent from private landlords, and the cost of rent together with utility bills is mounting in the cost of living crisis. A large amount of the cost of household bills for renters goes on home energy supplies, such as electricity, heating, gas water, and so on. These have all gone up in recent times.
Landlords are responsible for the upkeep, maintenance, and repairs of their rental properties, and they can control how energy-efficient they are. So, what steps can landlords take to try and help alleviate the pressures of the cost of living crisis and save their tenants money on energy bills while living in their properties?
To help you out, here we have taken a look into 5 ways landlords can help save tenants money on energy bills in the cost of living crisis.
Get an energy-efficient boiler
Modern boilers are considerably more efficient than older boilers mainly because they are condensing. A condensing boiler means that the boiler manages to recover a greater amount of heat from the exhaust flue gas, and then uses this to heat the central heating water.
Installing an energy-efficient boiler in your rental property will help to reduce the burden on your tenants by lowering the cost of their heating bills. Not got an energy-efficient boiler at the moment and thinking about how you can help your tenants out at this time? Getting an energy-efficient boiler installed asap is a no-brainer!
To further reduce energy bills for tenants, it’s also a bright idea to make sure all your household appliances, including dishwashers, clothes dryers, washing machines, fridges, freezers etc are all energy efficient. When sourcing new household appliances, keep your eyes peeled for appliances with an Energy Rating Label.
Install proper insulation
Installing sturdy insulation in the attic, walls, and roof areas is essential in preventing heat loss to reduce your energy consumption and make your property more energy efficient. The most energy-efficient materials to use to insulate your property are rigid foam, Polyurethane insulation board, and fibreglass. The resulting reduction of temperature changes decreases the energy demand of heating and cooling systems, and thus reduces heating bills for tenants!
Draughtproof the place
Draughtproofing any gaps and cavities in your walls, windows, doors, roof, chimney, or floors using a hardy sealant, draught excluder, covers, or underlay will go a long way in reducing heating bills for tenants. Draughtproofing blocks up unwanted gaps that let cold air in and warm air out and therefore helps to make your property more energy efficient.
Having to fork out money due to property damage and repairs is no fun for your tenants and will hurt your pocket as a landlord. Filling in those gaps and cavities can also help to floodproof your property and protect against water damage.
It’s also crucial to take out landlord insurance to provide cover for your properties should they get damaged. If you’re looking for landlord insurance, take a look at CIA Landlords, the best in the game when it comes to landlord insurance providers in the UK.
Make the most of LED light bulbs
LED light bulbs require less energy and are around 10 times more energy efficient than conventional bulbs. Therefore, installing LED light bulbs throughout your house will help slash electricity bills overnight for your tenants. The range of stylishly designed LED bulbs and fittings you can get on the market these days is remarkable.
LED lightbulbs won’t just save your tenants money on bills, they also enable them to lower their carbon footprint and help preserve this beautiful planet!
Educate your tenants on ways they can save money on energy bills
Sometimes rental tenants can need a bit of help and guidance, particularly if they’re young student tenants living away from their parents for the first time for instance.
So, why not put laminated signs around the house providing energy-saving tips for tenants? These hacks include nudges reminding them to do things like checking their energy consumption on the meter, turning off lights when they leave a room, showering for no more than 10 minutes, closing doors and windows, and putting electricity and heating on a set timer.
If you want to gain a reputation as a respected trustworthy landlord, you need to demonstrate you care about your tenants and their living conditions while they reside in your property. Making an effort to give tenants some handy energy-saving household tips in the cost of living crisis is a way to forge a good working relationship with tenants and keep things professional.
Every little helps for rental tenants in this tough winter during the cost of living crisis. Reading these 5 smart tips on ways landlords can help tenants save money on energy bills, you should now have a much better idea of how you can go about making your properties more energy efficient!