There is a certain circulating pressure on landlords to focus on sustainability throughout their property portfolios. Eco-friendly initiatives are leading the charge, and landlords are having to be more proactive and responsive than ever. With turbulence in the property market, maintaining houses and adhering to regulations is more in demand and tenants are raising the bar too. So, when it comes to making your rental property more sustainable, what can be done?
Make Your Appliances Energy Efficient
When thinking about how to be an eco landlord, there are plenty of directions to move in. One of the most pivotal upgrades will be in focusing on the internal, major appliances. This is especially important for fully furnished properties, where there will be a higher number of ‘white goods’ to consider. By upgrading these core features in an eco-focussed way, the landlord will be reducing the water bill, energy bill, and general carbon footprint of the property. If an appliance comes with the Energy Star Rating, that’s the way to move.
Eco-Friendly Repairs
When repair jobs come knocking, find a path that allows for sustainable building practices. This could be choosing sustainable materials, or making an active choice to opt for contractors who have a clear sustainability initiative for their brand. While the main focus has to be carrying out the repair as fast and conveniently as possible for the tenant, if you keep the conversation open about why you’re deciding to do things in a more environmentally friendly way, the tenants will feel more in the loop and less displaced.
Focus on Water
There are some key areas where landlords are able to implement water conservation strategies into their rental properties. Firstly, ensuring all the plumbing is set up to save water, for instance, by installing low-flow taps in the toilet. Secondly, it is straightforward to install rainwater collection to be used on the property. The recycled water can be used for a range of things from gardening to toilet flushes. Thirdly, educating your tenants about conservation methods is always an option too. Tell them what you have done in the property to focus on using less, and encourage them to get involved.
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Consider a Boiler Change
While gas boilers were the most common installation in previous years, the trend is shifting. Electric boilers are higher in efficiency and undeniably more sustainable. Landlords will have to take the plunge at some point when it comes to replacing an old, less efficient gas boiler, so why not now? Electric boilers have nowhere as many emissions, and they can even be combined with certain types of renewable energy to really boost their eco-efficacy.
Talking About Recycling
There is a good chance that your tenants are already recycling. However, you can make that a whole lot easier by ensuring there are spaces in the property to focus on this agenda. Ensure all the appropriate bins are there, and incorporate something into the tenancy agreement. Be upfront about this, because tenants are more likely to respond positively if they are a part of the conversation.
What Are the Benefits?
All of the above information is helpful, but why is it important? Aside from the obvious appeal of becoming more sustainable, there are two areas where it specifically benefits the landlord’s agenda. The first is how it benefits the financial picture, and the second looks at the boost in reputation and why that is important.
The Financial Picture
Sustainable properties are better for the associated financial picture. With a property that has had time invested into making it eco-friendly, everything will become more efficient. The monthly cost will be lower, but so will repairs as and when they come along. Modern appliances need fewer repairs and eco-focussed tenants will accept a slightly raised monthly cost if the return is living in a property that is enhanced for environmental purposes.
Landlord Reputation
Tenants talk, it’s an unavoidable fact. Landlords gain a reputation, and this can affect the viability of your investment if it becomes negative. By boosting your reputation with an environmental focus, tenants may see you as a thoughtful, mindful, and socially conscious landlord. It also makes your property more valuable and increases the opportunity for tenant retention.
Eco-friendly landlords invest in a holistic approach to sustainability for their properties. Both sides of the equation, tenants, and landlords, will benefit from this drive in protecting the environment. It makes sense from a financial perspective and reputationally as well. There are lots of ways to put this into practice, even if it takes some investment to get things going.
