An interesting new survey has given landlords food for thought when considering their home improvements for 2016.
PropertyLetByUs questioned tenants on their main priorities for the new year. One-fifth replied by saying that cost-effective central heating is an absolute must.
Warm
A large majority of tenants said that they felt concerned over keeping their properties warm and damp-free over the coming months. In excess of 80% said that double glazing was their top priority for the next rental property.
In general, UK homes are some of the most expensive to heat in the whole of Europe, according to official EU figures. Estimates suggest that over 10m British families currently live in a property with a leaking roof, damp walls or rotting windows. Older, single glazed homes bring with them more chance of condensation and mould.
Jane Morris, Managing Director of PropertyLetByUs.com noted, ‘it is estimated that around one million tenants are paying as much as £1,000 a year more for heating than the average annual bill of £1,265. These excessive costs are mainly down to poorly insulated homes, many of which are thought to be the oldest and leakiest rental properties in Europe.’[1]
New survey shows tenants’ top wish for 2016
Demand
Morris continued by saying, ‘clearly, double-glazed properties are highly sought after by tenants and landlords that offer this will be in large demand. However, landlords that are offering draughty, damp accommodation should not delay in improving their properties, as new legislation will see landlords banned from renting out England and Wales’ draughtiest homes from 2018, in a bid to cut energy bills and carbon emissions.’[1]
‘Landlords with properties rated F and G will be unable to let them out from April 1st 2018. The regulations also mean that from 1st April 2016, tenants living in F and G rated homes will be able to request improvements, such as more insulation. The landlord will then be legally bound to bring the property up to a E rating. As a matter of urgency, landlords that are currently renting out F and G rated properties should be reviewing the improvements that can be made together with researching costs and available help, through the Government’s Green Deal,’ Morris concluded.[1]
[1] http://www.propertyreporter.co.uk/landlords/what-is-the-top-priority-for-tenants-in-2016.html