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Property management and energy efficiency have a similar goal: getting more done with less. Professional block management companies strive to make the most of landlords’ budgets while keeping properties in good condition. In the same way, energy efficiency aims to cut down on waste and conserve energy with minimal harm to the environment.
No matter what type of property you own—residential or commercial—implementing energy-efficient measures is highly beneficial, regardless of its location. For instance, if you’re in Chelmsford and collaborating with block management companies in Essex, the management experts might suggest focusing on improving your Energy Performance Certificates (EPCs) as a top priority. They may also connect you with a local EPC provider in Essex to ensure compliance.
But why is this so crucial?
Aside from helping you save on energy costs, an EPC can also contribute to environmental conservation efforts. Have you noticed the recent surge in heat waves or the increasing frequency of floods? These unnatural weather events highlight the urgency of taking action now, and one effective way to do so is by striving for higher EPC ratings.
If you’re still unsure about whether to invest in upgrades and improvements, this guide will provide compelling reasons to convince you. Let’s get started!
1. Reduce Overall Operational Cost
Block management companies are constantly looking for ways to reduce operating costs without sacrificing resident comfort and safety.
Adopting EPC upgrades can be one way to achieve this feat. However, EPC upgrades are costly, deterring many property managers and owners from investing. Let’s tell you a secret. Your EPC upgrades will pay for themselves in terms of lower electricity bills and maintenance and repair costs.
Your EPCs are likely to suggest changes like installing solar panels and double glazing and weatherproofing your property. While it may seem like they don’t do much, these upgrades can actually benefit you.
For example, when you install solar panels in your apartment blocks, you reduce your dependency on grid electricity. Double-glazing windows, insulating floors and ceilings, or weatherproofing doors can help you save on energy bills, especially during the winter. Successfully trapping heat indoors allows for less energy waste in heating it up to ideal standards.
2. It’s Good for The Planet
Adopting energy efficiency helps reduce your reliance on natural resources (which are depleting fast), enabling you to effectively reduce your carbon emissions. In 2019, the UK government declared a climate change emergency, and one of the major contributors (16%) to the country’s net greenhouse gas emissions was the residential sector. The commercial sector generated 18% of the total emissions.
Doing our bit for the environment is good for the planet and society as a whole. Inhaling polluted air and consuming contaminated food or water is leading to an increase in the number of chronic conditions. Small energy-efficient measures in property management can have a significant impact all around the planet.
RELATED: 7 Benefits of Solar Energy to the Environment
3. You Increase Your Rental Yield and Property Resale Value
People are becoming more environmentally conscious and are seeking sustainable options. Renters now prefer homes with higher EPC ratings, as these properties are eco-friendly and cost-saving.
For instance, if there are two similar properties available for rent in the market, with property A having an EPC rating of B and property B having a rating of D, potential renters are likely to choose property A over B. During times of high demand, you can increase your rental income by charging a competitive rent.
Even when selling your property, an energy-efficient property will sell for a higher price than one that isn’t. Implementing energy-efficient best practices in property management and maintenance will directly impact your property valuations.
4. Stay Compliant with The Regulations
Did you know that the government can take action against your property if it fails to be energy efficient? Every property in the UK must comply with the Domestic Minimum Energy Efficiency Standards (MEES). Any property with an EPC rating below E is required to make improvements to its energy efficiency.
If local authorities find your property to be non-compliant with the regulations, they can serve you notice and even levy penalties worth up to £4,000. The government also has several schemes that can help to promote energy efficiency. These include:
- Great British Insulation Scheme
- Home Upgrade Grant
- Boiler Upgrade Scheme
5. Make Your Property Future-Proof
When you follow energy-efficient property management practices, you have a home that can meet the demands of the future. The effects of climate change are now very evident, and by following the most recent EPC guidelines, you can build a home that will keep you comfortable no matter the weather.
In the future, sustainable living practices will be more strictly implemented by authorities. When you start adapting them early on, you’ll be better prepared to meet future demands.
Wrapping Up
Making the switch to sustainable property management is not as overwhelming as you think. You can begin with minor adjustments, such as replacing all of the light fixtures with LED ones. Next, you can work on sealing all the cracks and crevices to prevent the warmth or cool of your home from escaping. Getting a new boiler or smart thermostat or installing solar panels can also be beneficial.
Energy-efficient properties are healthy, eco-friendly, compliant, cost-saving and future-proof. At the end of it, it not only helps the planet but also helps you live a better life.
Are you ready to integrate energy efficiency into your property management practices?
FAQs
Property managers should focus on energy efficiency because it reduces operational costs, enhances tenant satisfaction, and promotes sustainability. Efficient energy use can lead to significant savings on utility bills and can make properties more appealing to environmentally conscious tenants.
Energy efficiency can greatly impact tenant retention. Properties that are energy-efficient tend to have lower utility costs, which tenants appreciate. Moreover, modern, energy-efficient appliances and systems create a more comfortable living environment, making tenants more likely to renew their leases.
Some simple energy-efficient upgrades include installing LED lighting, upgrading insulation, sealing drafts, and using smart thermostats. These improvements can reduce energy consumption and enhance overall property appeal without requiring substantial investment.
Yes, energy efficiency initiatives can increase property value. Properties that are energy-efficient often have lower operating costs, which can attract buyers and renters alike. Additionally, many buyers are willing to pay a premium for homes with energy-efficient features due to long-term cost savings.
Energy efficiency contributes to sustainability by reducing energy consumption and greenhouse gas emissions. By managing properties in an energy-efficient manner, property managers can support environmental initiatives, helping to combat climate change and promote a healthier planet for future generations.
Yes, many governments and organizations offer incentives for property managers to invest in energy efficiency, such as tax credits, rebates, and grants. These incentives can help offset the costs of upgrades and make energy-efficient improvements more financially viable.
