Is it time to invest in making your property more energy efficient for tenants?
From April 1st, tenants have been given the right to request consent from their landlords to make energy-saving improvements to their rented property. While landlords aren’t allowed to refuse this request without good reason, all work is to be arranged and agreed at no cost to the landlord, meaning it’s all round good news for both parties. The idea being is that tenants have the opportunity to take action on reducing the cost of their monthly bills and landlords can benefit from the work adding value to their property.
Making the changes yourself can make your rented property more attractive
For landlords who have properties that currently lie unoccupied or have leasing agreements that are beginning to run short, making energy-efficient improvements to your buy-to-let property could make it a more attractive proposal to potential tenants when they start weighing up their options.
Above that, the right changes can see the annual income of your property rise as the value added improvements can provide you with the opportunity to increase the monthly asking price for rental.
Are there any restrictions to the tenant’s request?
The right to request means that a tenant is asking landlord consent to carry out agreed work themselves. This also includes, in the case of a block of flats, having the right to request to the superior landlord that the tenant can carry out works which are beyond the boundaries that the tenancy agreement covers.
The only scenario in which permission would not need to be given is where a property does not currently have an EPC certificate. However this will only affect temporary buildings with less than two years of planned usage and buildings with permission for demolition.
Getting the right advice on property improvements
For landlords looking to be proactive on making improvements to their buy-to-let property, you want to be sure that what alterations you make will have a positive impact on your annual yield. For advice on this, get in touch with one of our expert property advisors on 01603 499258.