We all know energy prices are going up. It’s frequently on the news and leaders are discussing how best to support those who are struggling to pay their bills. But what does the rise in energy prices mean for landlords and the rental market? Let’s take a closer look.

How does the rise in energy prices affect landlords?

We are already seeing people moving home to save money. Sometimes they’re moving nearer to their place of work in order to lower fuel costs. But we also know people move to properties with a better energy rating that are cheaper to heat. 

These trends mean that landlords need to consider the energy ratings of their rental properties, and decide whether there’s any room for improvement. If you’re a landlord and you’re relying on keeping your property tenanted, improving your property’s energy rating could help you hold onto your tenants. On the other hand, letting a property with a poor energy rating will become increasingly difficult. Many tenants will factor in the price of household bills when they decide whether or not to take on a property – you don’t want to be left out in the cold.  

What can you do to improve your property’s energy rating?

Top of the list is to improve insulation. Loft, cavity wall and under-floor insulation can all make a difference. Insulation enables a property to get warm and stay warm, instead of releasing the heat to the outside world. It’s also important to insulate hot water tanks so they work more efficiently. 

Windows are also a source of heat loss. Consider upgrading to double- or even triple-glazing. 

If the boiler or an electrical appliance needs replacing, take the opportunity to source something more energy efficient. Old appliances often use more energy than newer versions, either because they were built to a different standard or because they are performing less well than they did when new. 

Covering the cost of improving rental properties

Improving the energy rating of your property can seem expensive. However, there are some grants available. The criteria and timing of these grants changes so we suggest checking what’s available at the time you want to make the improvements. 

It’s also worth remembering that a property with a good energy rating will make your property more appealing. Making improvements to your property could offer good value in the long term if it means you attract good tenants and don’t experience gaps between tenancies. 

Let property in Guildford

If you have property to let in Guildford, we’d love to hear from you! It’s part of our role as lettings agents to ensure that all the properties we let and manage have in-date energy performance certificates. We can connect you with a registered EPC assessor, while our directory of contractors can help you make any improvements you need. Get in touch today on 01483 457 000 to find out more.