National news reports towards the end of 2014 revealed that landlords of Victorian properties may find themselves in the situation of having to make changes so that the properties become more energy efficient, according to government proposals.
Apparently new legislation is set to come in that means owners of properties ranking below the lowest energy efficiency categories will have to make improvements from 2018 or be stopped from letting from tenants. This could be anything from insulating and installing double glazing. Also, by April 2016, tenants could be given the right to ask for permission to make their own energy efficiency measures.
Whilst landlords might consider the measures tough, in actual fact there are many advantages of improving energy efficiency in rental properties. Plus there’s the fact that the government is keen to ensure landlords don’t have to foot extensive bills, saying they won’t be obliged to make any improvements unless there is a grant made available under the Green Deal initiative, the Energy Company Obligation or some other funding scheme.
Why Invest in Energy Efficiency?
Improvements that will reduce heating and lighting costs will make your property more attractive to tenants. Plus lower ongoing bills will lead to longer running lets.
And then there are the plus points for the actual building. A drier, warmer atmosphere will ward off damp and mould and help avoid frozen pipes. Maintenance costs will also be lowered.
One popular energy efficient initiative that lots of landlords are opting for is electric central heating. It is proven to reduce a carbon footprint and the fact you can tie it in with solar and underfloor heating boosts its benefits even further in this respect. Grid electricity is currently undergoing decarbonisation which is leading to electric central heating being thought of as greener than gas.
If you’re a landlord and would like to find out how electric central heating could benefit you ahead of the changes coming in, please get in touch.