To encourage long term tenancies, looking after your tenants is a must and there is nothing wrong with going the extra mile for them. However, landlords know that the rental property game is a numbers game. Money in vs money out. Therefore, it’s important to look at all the ways in which you can reduce overheads - especially if you’re offering an inclusive rental (all bills include). Reducing your energy bills is a great way to reduce overheads and increase profits. Even if you don’t pay for the bills yourself, low energy bills will improve the attractiveness of your property to potential renters.

Why reduce energy bills?

Reduced expenses - This is the number 1 reason to reduce energy bills. Any bill associated with your property is worth reducing in the long run.

Increased value of property - if you’re taking steps to improve the energy efficiency of your property, the chances are you’re adding value to the eventual sale price. Replacing a tired boiler, adding insulation and changing light bulbs will all add value to the property and improve the heating rating.

Fewer maintenance issues - updating any tired fixtures will prevent any winter boiler disasters or Christmas day call outs, giving you peace of mind that your property is well maintained.

More affordable for tenants - Of course, advertising lower bills is a great incentive for renters and will encourage them to stay tenants for as long as possible.

Here are our top 5 ways to increase energy efficiency and reduce bills:

Sealing cracks - this is a quick and easy win. Search the house for any cracks or gaps that are exposing the house to drafts or the elements. Use a high quality filler, especially around the windows and walls to ensure that there is no air allowed to enter.

Replacing boiler with renewable energy sources - Heating technology is improving in efficiency as every year passes. The government is even incentivising the use and installation of renewable energy heating technology such as air source heat pumps, solar panels and ground source heat pumps. Air source heat pumps are now becoming commonplace in new builds and developments and whilst they can cost several thousands to initially install, you can end up saving up to 75% of your energy bills each month. What's more, the government will pay you through incentives, contributing to the cost of your installation.

Tips: Find out more about air source heat pump costs and ground source heat pump costs here.

Turn down water temperature - turning down the temperature on your water tank can help save you money as it’ll require less energy to heat the water. You may want to reduce the temperature of your water from 140 degrees to 130 degrees or even 120 if you feel that you’re not missing out!

LED light fixtures - LED is one of the greatest advancements in lighting technology. An LED light uses just a fraction of the energy of a traditional halogen light. Just changing all of your bulbs will help to significantly reduce your energy bills.

Insulation - While you may not want to take down any walls just to add installation, there are several surfaces that you can insulation to which will instantly improve your energy efficiency. For example you can add insulation to your loft hatch or room. Proper insulation can help keep the property cooler in the summer and warmer in the winter, therefore reducing energy bills,

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