Some 21 per cent of tenants have spoken to their landlords about making energy efficiency improvements to their property, according to a survey by a lender.
In response to this, a quarter of landlords have already made energy efficiency improvements to reduce energy bills for tenants, and to meet proposed EPC requirements.
The research – by Shawbrook – also found that landlords have spent an average of £8,900 so far on improvements, which is almost 50% more than they had expected they would need to spend.
However, over a fifth of landlords say they have no idea how much updating their properties will cost.
When it comes to the energy efficiency changes tenants would like to see made to a property, solar panels are the most popular choice with 26 per cent of respondents stating that they would like them to be installed.
A further 22 per cent would like a new boiler, and 20 per cent stated that double glazing would be their preference. Nearly a fifth of tenants said they would even consider living in a smaller property if it meant it was more energy efficient.
Shawbrook’s latest figures come as the government has pledged to reduce energy consumption from buildings and industry 15 per cent by 2030, with aspirations for properties to have a minimum EPC rating of C in England and Wales by April 2025.
Under current government regulation, landlords are not expected to spend more than £3,500 on upgrades to meet the current EPC requirements for a rating of E. However, proposed changes could see all rental properties requiring an EPC rating of C by 2028, and a potential increase to this cap to £10,000, meaning landlords could be required to spend more to meet minimum requirements.
Emma Cox, managing director of real estate at Shawbrook, says: “It’s likely that efficiency standards will become tougher in the future, which is just one of the reasons that landlords should take note of tenant’s requests and start making a plan.
“As trends now point towards tenants favouring more energy efficient properties, these changes should not just be seen as a tick-box requirement by landlords, but also a worthwhile investment.
“If tenants feel their accommodation is more cost efficient and sustainable, they will be more likely to stay, which in turn will benefit landlords.”