URL Source: https://redbrickproperties.co.uk/news/posts/green-credentials-relevant-to-renters
Published Time: 2021-10-22T08:58:52+00:00
Markdown Content:
According to The Property Academy Renter Survey 2021, very much so!
What are Green Credentials?
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Firstly, if you are unaware what green credentials are, the Cambridge Dictionary define then as, ‘the qualities that show you believe it is important to protect the natural environment’.
Within a property, examples of green credentials can include anything from thorough insulation, using renewable energy, to low carbon heating and solar panels.
So, are the green credentials of a property relevant to renters when looking for their next home? Well, according to The Property Academy, more so than you may think.
So, why does this matter to Landlords?
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According to The Property Academy Renter Survey 2021, almost half (**49%**) of renters would choose their rental property quicker if it had green credentials or a well-being certification.
Not only would renters choose their property quicker, but around **61%** of renters said they would rent for longer if the property had green credentials or a well-being certification.
Also, according to the survey, double the proportion of 18 to 34-year-old renters would pay a premium for green credentials of a home compared to those 35 years and over, **12% vs 6%.**
What part do Redbrick Properties play in this?
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All of Redbrick Properties ‘Bills Included’ student properties not only benefit from extras such as contents insurance, access to a free mental health helpline, and a TV Licence, but also, through Octopus Energy, energy which relies heavily on supplying electricity and gas mostly through renewable energy.
What is Renewable Energy?
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Renewable energy uses the power of the sun, wind, and water to generate electricity. Confusingly, it’s often called “green” energy. Not because it’s made from trees, but because it’s kinder to the planet – renewables don’t release any harmful emissions so don’t contribute to global warming (but fossil fuels do).
We’ve a duty to our planet, communities, and ourselves to stop relying on fossil fuels and choose renewable energy.
What Does This Mean for Landlords?
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Landlords should be mindful of increased awareness of the need for action on climate change. Especially amongst their eventual target market which are the younger generations; Generations Z, Alpha and beyond.
After all, green credentials of their portfolios may help to minimise voids going forward.
Source: Dataloft, The Property Academy Renter Survey 2021.
Dedicated to Lettings
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Landlords let their properties with Redbrick Properties because we are a dedicated lettings agency. Not sales, just lettings.
