A new study was undertaken by Go.Compare Energy shows people born between 1981 and 1996 are the most likely to opt for an environmentally friendly property. 60% of respondents in this age group said they would shy away from a property with a low Energy Performance Certificate (EPC).
The overall figure for all respondents was 51% who would avoid a property with a low EPC rating. From the people born between the mid-1960s and the early 1980s, 49% of respondents would avoid a low-scoring EPC property. From the group of people born between 1946 and 1964, just 45% would avoid a home with a low environmentally friendly rating.
This is helpful information for landlords, and it should reinforce what you need to do with your rental accommodation to reach your chosen tenant. If you have a preferred type of tenant in mind, we are the ideal Peterborough letting agents help you achieve your goals.
We know the local market very well, including who the most likely tenants are and what tenants are looking for. We will ensure you make an informed decision regarding connecting with prospective tenants.
A good energy rating draws prospective tenants
Another interesting finding from the study is that 72% of respondents said a good energy rating draws them to property. We know there is legislation relating to energy standards for rental properties, but beyond this, landlords can make their properties more appealing to prospective tenants.
Gareth Kloet, energy expert at Go.Compare, said: “It’s really positive to see that all ages are attracted to energy-saving home features as we move to a more sustainable future. Millennials paving the way in prioritising energy efficiency is not all too surprising, as they have often led older generations in their adoption of new technologies.”
What do tenants think about the current rental market with respect to energy costs?
It is not a surprise to learn many tenants have concerns about the rental market concerning the cost-of-living crisis. A new study by Hodge, a specialist lender, highlights these concerns. It is helpful for landlords to know what tenants think; these findings will likely dictate your actions in 2023.
88% of respondents cited concerns about increasing energy costs, and many prospective first-time buyers are likely to rent for longer instead of making an offer on a home.
69% of respondents say they have changed the way they live, with the following changes taking place:
- 86% of respondents turn of all lights not in use
- 65% of people turn off water when they are washing their hands, brushing their teeth or shaving
- 57% rely on natural light at home
- 53% of respondents spend less time in the shower
These are sensible ways for people to lower their energy bills without negatively impacting their quality of life. Landlords and tenants are acutely aware of the challenges of the present day, which is why it is essential for all parties to find ways to improve their current status.
Just Lets – Here to Help
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
The team at Just Lets Peterborough continue to operate remotely to ensure we can continue to serve you and your tenants throughout this covid period and beyond. Please contact us through our usual channels – email us at peterborough@justlets.com or call us today on 01733 346255.
