1st of November: 98% of renters would prefer a green home (LettingaProperty.com)· 52% would pay 10% more for a greener home (LettingaProperty.com)· 85% of renters would consider a ‘green lease’ (LettingaProperty.com)
A new survey from rental platform LettingaProperty.com has revealed how hugely important green issues have become to the UK’s renters. A staggering 98% of respondents said that they would prefer a property that was optimised to increase energy efficiency, reduce energy costs and minimise environmental impact.
Not only that, but tenants are prepared to pay more to rent in line with their principles. Over half of those surveyed (53%) were prepared to pay more for a greener property. Of those who were happy to stump up for sustainability, 52% would willingly pay 10% more rent, while 33% would accept a 5% rent increase. 8% of renters even said they would be willing to weather a rent increase of 20% if it meant they could rent a greener home.
“We’ve heard a lot recently about the cost to landlords of making their properties greener, from replacing gas boilers with heat pumps to installing insulation. This survey has revealed that tenants are prepared to play their part too, with over half of renters happy to pay more for greener homes. It is overwhelmingly clear that tenants are demanding greener choices than the rental sector currently offers.” Jonathan Daines, Founder and CEO, LettingaProperty.com
The vast majority of renters (85%) were happy to consider a ‘green lease’ as part of the solution to level up the rental sector’s sustainability credentials. Green leases include clauses designed to ensure the tenant and landlord work together to improve the home’s energy efficiency, while reducing costs and environmental impact.
Tenants already expect their rental homes to deliver on a number of fronts when it comes to sustainability. 95% of renters expect their property to have double glazing and 92% expect it to have loft or wall insulation. 92% expect recycling bins as standard, while 73% expect LED lightbulbs. In terms of technology, 56% of renters expect smart meters and 38% expect smart thermostats. 50% of renters, meanwhile, expect dual flush toilets, while 26% expect solar panels and ground source heating.
“Clearly, renters know what they want when it comes to green credentials. And while many landlords can’t afford solar panels or heat pumps, smaller eco improvements can help properties stand out and increase renter appeal. Landlords should be mindful of this sentiment and take any steps they can to make their properties ‘greener’.” Jonathan Daines, Founder and CEO, LettingaProperty.com
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