Could energy efficiency pay for landlords?

by Sarah Ashcroft

Energy efficiency is a big deal for people in the UK right now, with plenty of individuals aiming to ensure that their homes do not leak power unnecessarily, costing them money in the process.

Landlords who are renting out numerous properties could find that it pays for them to focus on the environment - as much for their own back pocket as the natural world itself. Andrew Leech, director of the National Home Improvement Council, has been speaking about the options that are on the table right now.

For instance, he explained the recent launch of the Green Deal initiative is a significant step in the industry. This provides a loan system for people and landlords who want to improve the energy efficiency of their properties but cannot afford to pay for the work upfront out of their own funds.

The loan is effectively against the home rather than the individual, so it can be repaid with the savings that are made on gas and electricity bills in the future.

Mr Leech went on to note that there are plenty of other options beyond the Green Deal, stating: "If the Green Deal is not for you, the cheapest and most effective way to make your home more energy-efficient it is to make sure you don't have any draughts and cold spots. So have your home insulated up to the required standards and have your cavity walls filled."

It does not matter which course of action landlords choose to follow, as the fact they are improving the energy efficiency of their homes will pay off in the long run. By reducing the amount of energy the properties consume, they will face smaller bills, ensuring the profit that they make from a home they rent out is maximised.

In these changing times, it should also be remembered that it may be easier to impress prospective tenants with the promise of a green home to rent that does not waste energy from every pore.

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Published on: February 12, 2013

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