Eco-friendly landlords attract high-paying tenants
Landlords who can offer green space and proof their properties are environmentally friendly, may find themselves a much more popular choice for tenants.
A massive 42 per cent of tenants say green credentials are a priority when choosing a place to rent, and this figure rises to 63 per cent of those paying £1,351 to £1,600 per month, a survey by Your Move sister company LSL’s PRIsm has found.
By contrast, only 37 per cent of renters paying £350 a month or less share the same concerns.
The findings reveal that considering the environmental impact of their rental properties is a key way for landlords to attract more tenants in an increasingly competitive environment.
From April this year, all rental properties across the UK must achieve a minimum EPC rating of E, which is a measure of the energy efficiency of a home and affects the tenant’s utility bills as well as the environment, and this could be set to a minimum of C in the future.
Martyn Alderton, national lettings director at Your Move and Reeds Rains, said: “Whether it’s to reduce their energy consumption, save money or make a positive impact on the environment, it’s good to see that tenants consider the ‘greenness’ of a building an important factor in their rental decision.
“As we continue to build more and more homes for our growing population, it’s vital that we do whatever we can to create a more sustainable future for our planet and use our resources as carefully as possible.”
The Your Move survey also found that 32 per cent of renters were interested in a communal garden, while 30 per cent would pay extra for a vegetable allotment, proving that green space is important to Generation Rent, despite it often coming at a premium in city locations.
In London, renting households can expect to pay as much as 20 per cent more per month if they have a garden, and experts believe this will be echoed in cities such as Manchester, Birmingham and Leeds.