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Desire for Eco-Friendly Living Spaces Increases Among Renters

Desire for Eco-Friendly Living Spaces Increases Among Renters

by Vil
3 minutes

An impressive 75% of renters are expressing a strong desire for their landlords to enhance the eco-friendliness of their rental properties. This growing trend highlights the importance of sustainable living and its benefits not only to the environment but also to the relationship between landlords and tenants.

Learn about current trends

It's becoming increasingly clear that a significant majority of renters prefer residences that are energy-efficient. Landlords stand to gain by adapting their properties to meet these expectations.

Lessee Preferences

Recent findings reveal intriguing insights into tenant preferences regarding energy efficiency in the rental market:

  • An overwhelming 98% of tenants would opt for an energy-efficient home.
  • 52% are willing to pay up to 10% more in rent for such properties.
  • 33% would agree to a 5% rent increase for improved energy efficiency.
  • A smaller segment, 8%, is open to paying an additional 20% for energy-efficient living spaces.
  • Additionally, 85% of residents are interested in exploring the option of a "green lease."

Key Features Tenants Value in Eco-Friendly Rentals

The survey also identified critical features tenants look for in eco-friendly rental properties:

  • High expectations for double glazing (95%) and insulation (92%).
  • A strong preference for properties offering recycling options (92%).

Prominent Trends

  • The demand for LED lightbulbs (73%), smart meters (56%), and water-saving dual flush toilets (50%).
  • A growing interest in advanced technology like smart thermostats (38%) and renewable energy sources such as solar panels and ground source heating (26%).

This trend is largely driven by the desire for better-insulated homes, which can significantly reduce heating costs, especially during periods of rising energy prices.

Financial Commitments and Government Action

In the latter part of 2023, a notable portion of renters reported their monthly energy expenses, with 23% spending between £100-£149 and 18% between £150-£199.

Financial side

Additionally, there's a widespread sentiment that the UK government's progress towards green energy transition is insufficient, particularly after recent policy shifts by Rishi Sunak.

Overcoming Barriers to Sustainable Living

The challenge of cost and disruption often hinders homeowners from adopting eco-friendly modifications. However, initiatives like the Home Energy Hub aim to simplify the process for homeowners to make sustainable updates to their homes.

This approach not only benefits homeowners but also aligns with the increasing demand from renters for more energy-efficient living spaces.

The survey by 1newhomes underscores a significant shift in occupant attitudes, with a majority willing to contribute financially to live in greener homes.

Overcoming barries

This indicates a clear demand for more sustainable living options in the rental market, urging landlords to consider eco-friendly renovations as a mutually beneficial investment.

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