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Going green could make your buy-to-let more appealing to tenants

by Kate Saines
April 24, 2018
July house purchase lending highest in 7 years
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When choosing a rental property 42% of tenants consider whether a building is eco-friendly, new research has revealed.

According to the survey by Your Move, the green credentials of a potential home are even more important for those renting properties in London, where 50% of people said this was important.

And it would seem tenants who pay higher rent also place greater value on green living initiatives.

Your Move found that, on average, those who paid more rent were also more likely to consider a building’s environmental credentials important.

The survey revealed 63% of respondents who paid between £1,351 and £1,600 per month said this would be an influential factor, compared to only 37% of those paying £350 or less.

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Martyn Alderton, national lettings director at Your Move and Reed Rains, said: “Whether it’s to reduce their energy consumption, save money or make a positive impact on the environment it’s good to see that tenants consider the ‘greenness’ of a building an important factor in their rental decision.

“As we continue to build more and more homes for our growing population, it’s vital that we do whatever we can to create a more sustainable future for our planet and use our resources as carefully as possible.”

It’s not just a building’s environmental impact which influences tenants, green spaces were also an important factor in tenant’s decision to rent a property.

Nearly a third of those surveyed said they would be interested in a communal garden and 30% would be willing to pay more for a vegetable allotment.

 

Tags: eco-friendlyGreen livinglandlordstenants
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