Will I Attract More Tenants As An Eco-Friendly Landlord in London?

Posted in Jul 07 , 2022

More people in London are starting to recognise the importance of becoming more green, and here at Cribs Estates Ltd , we’re increasingly seeing prospective tenants who are interested in renting an eco-friendly property.

Yet, there aren’t many landlords out there who are keen to embrace a more environmentally-aware approach to letting. It seems, then, that there’s a definite gap in the market for anyone eager to take a green stance when renting out their property.

Why Do More Prospective Tenants Want An Eco-Friendly Property?

In many cases, renters in London are relatively young, typically within the age bracket of 25 to 34, which is precisely the demographic that is most concerned about today’s climate crisis. Those prospective tenants are keen to rent accommodation that has upgraded green credentials, thus allowing them to do their bit for the planet and reduce their carbon footprint.

Does An Eco-Friendly Property Bring Landlords Any Benefits?

It may seem that upgrading the green credentials of your rental property will cost more money than it could bring in, but in fact, there are some impressive benefits to taking the plunge:

Saving money. If you rent out your property inclusive of utility bills, making it more energy-efficient will reduce the amount that you pay to energy companies every year.
Higher rents. With more tenants looking for a green rental property, there will be more competition between them to secure the tenancy. That means you can charge more rent each month and boost your income.
Improved EPC rating. Landlords are already under increased pressure from the government to ensure their rental properties meet the minimum EPC rating standards, and these standards look set to tighten still further as we approach 2030. Upgrading your property to become more energy efficient now will save you money in the long run.

How Can I Make My Rental Property More Green?

Here are a few tips that we offer landlords to help make their rental properties more eco-friendly:

Install heating control systems that use smart technologies.
Increase the amount of insulation in the property – adding extra loft and cavity wall insulation can decrease energy bills significantly.
Install water-saving measures such as dual flush toilets, smart sprinklers, and water-saving showerheads.
Fit LED bulbs to all of the property’s light fittings and consider installing sensor lighting that only comes on when movement is detected in communal areas, outdoor spaces, or hallways.

These are just a few ways in which you can encourage more tenants to your rental accommodation by adopting a more environmentally conscious approach to leasing.

Would you like more information and advice about renting your home in London? Then please call the team at Cribs Estates Ltd on 0203 441 1571.

We see many clients who are interested in renting a more eco-friendly home, so why not help them find their perfect green property by giving your rental property an energy-efficient upgrade?

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The Importance of Rent Guarantee Protection For Landlords

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According to recent data, many London tenants have been unable to meet rental payments due to the high cost of living, putting landlords in a difficult financial position. Eviction and Legal Costs: The eviction process in London can be lengthy and costly. A typical eviction might take several months and involve court fees, solicitor costs, and property repairs. In recent years, eviction bans and changing regulations have added complexities for landlords attempting to regain control of their properties. Property Damage: If tenants stop paying rent, they may also neglect the property, leading to damage. Repairing damage not covered by deposits or insurance can add considerable costs to the landlord’s financial burden. These scenarios highlight the potential financial exposure landlords face when renting without protection. According to a study, over 30% of UK landlords have experienced missed rent payments, further underscoring the need for preventive measures. Benefits of Rent Guarantee Protection Rent protection insurance offers a reliable solution for landlords who want to safeguard their income and reduce financial stress. Guaranteed Income: With rent protection, landlords can count on a steady income even if a tenant defaults, ensuring that mortgage payments, maintenance, and other costs are covered. This stability is invaluable for London landlords facing high monthly expenses. Legal Assistance: Many rent protection policies cover legal costs related to eviction or rent recovery, offering landlords essential support through challenging legal processes. These services can reduce the burden of managing legal paperwork and court procedures. Stress Reduction: Rent protection significantly reduces stress, especially for first-time landlords or those with multiple properties. Knowing your rental income is protected can be invaluable peace of mind, enabling you to focus on other responsibilities. Credit Score Protection: Missed rental income can also impact a landlord’s credit if they rely on rental payments to meet financial obligations. Rent protection helps landlords avoid credit issues maintaining financial stability. Key Aspects of Rent Guarantee Protection Insurance When considering rent protection insurance, it’s helpful to understand what these policies generally cover. Policy Coverage: Typical policies cover missed rent payments, legal fees for eviction processes, and, in some cases, property damage caused by tenants. Reviewing each policy to understand its full scope and potential exclusions is essential. Eligibility Requirements: Landlords must conduct tenant background checks, including credit reports, employment verification, and references. An assured shorthold tenancy (AST) agreement is often necessary for coverage. 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Property Management Company Near Me

Managing rental properties requires time, expertise, and a deep understanding of the local market. Whether you’re a first-time landlord or a seasoned investor, hiring a reliable property management company can significantly enhance your rental income while minimising stress. With so many options available, how do you choose the right one? Here’s an in-depth guide to making an informed decision.1. Why Choose Local Property Management Services?The keyword "near me" isn’t just about proximity—it’s about selecting a company with expertise in your area. Local property managers understand regional rental trends, tenant demographics, and legislation. For instance, knowing borough-specific rules like HMO licensing or council tax policies can save you from legal troubles in London. A nearby company is also more accessible for emergencies or on-site visits, ensuring your property is well-maintained.2. Define Your RequirementsBefore you start searching, clarify what you need from a property manager. Do you need help with tenant acquisition, rent collection, or property maintenance? Or are you looking for someone to handle everything, including legal compliance and financial reporting? Understanding your needs helps narrow the search and ensures you compare companies on relevant factors.3. Key Factors to Consider When Choosing Property Managementa. 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UK management fees usually range between 10% and 15% of the monthly rental income. Some firms may charge extra for tenant sourcing, maintenance, or legal services. Ask for a transparent breakdown to avoid hidden charges.d. Online Reviews and TestimonialsResearch reviews on platforms like Trustpilot or Google. Look for comments on customer service, communication, and problem resolution. Testimonials can also give you insights into how the company treats tenants, indirectly impacting your property’s performance.4. Evaluating ROI with Property Management ServicesA key factor in choosing a property management service is its ability to maximise your return on investment (ROI). 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At Cribs Estates, we specialise in connecting landlords and tenants with the best opportunities in the rental market. Whether you're a tenant seeking affordable shared accommodations or a landlord looking to maximise your investment in HMOs, we can assist in the following ways:Expert Advice: Our team stays updated on the latest market trends, licensing requirements, and regulations, ensuring landlords remain compliant and tenants secure the best deals.Property Management: From marketing your HMO to finding tenants and managing day-to-day operations, we offer tailored services to simplify your rental experience.Tenant Matching: We prioritise matching tenants with properties that meet their specific needs, whether it’s proximity to transport links, affordability, or shared living preferences.At Cribs Estates, we understand London’s dynamic property market and are committed to providing personalised solutions for landlords and tenants alike. Contact us today to explore the best HMO opportunities in the city.Read More: https://www.cribsestates.co.uk/blog/rent-to-rent-hmo

What are the Different Types of HMO License?

London’s rental market is a complex and competitive space where houses in multiple occupations (HMOs) are key to providing affordable housing for students, professionals, and others. An HMO is a property rented out by at least three people from different households who share facilities like bathrooms or kitchens. To ensure HMOs meet safety and quality standards, the UK requires landlords to obtain specific licence depending on the property type and location. This blog explores the types of HMO licences available, the legal requirements, and why they matter for London landlords.What is an HMO?An HMO, or House in Multiple Occupations, is defined by UK law as a rental property shared by multiple tenants who are not part of the same household and share essential facilities such as bathrooms or kitchens. HMOs are particularly common in London, where affordable housing options are limited, and demand for shared accommodation is high. According to a report by the Greater London Authority, HMOs make up a significant part of the rental housing market in the capital, offering accessible options for tenants who need flexible or lower-cost housing arrangements.Types of HMO LicencesIn the UK, there are three primary types of HMO licences: Mandatory HMO License, Additional HMO License, and Selective Licensing. Each type has distinct requirements, and London landlords should understand which applies to their properties.1. Mandatory HMO LicenceA Mandatory HMO License is required for properties that meet the following criteria:The property is occupied by five or more tenants who form more than one household.The tenants share facilities, such as bathrooms or kitchens.This licence is required by law across England and Wales, regardless of location. London’s dense population and high demand for shared housing mean many properties fall under this category, especially in popular rental areas. 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Typically, additional licensing applies to:Smaller HMOs that accommodate three or four tenants from different households sharing facilities.Properties in areas with high rental demands or concerns over housing standards.Local councils use this licence to improve rental housing quality, especially in areas with significant HMO populations. In London, boroughs such as Camden, Hackney, and Newham have additional licensing schemes due to high demand and the need to regulate housing standards. Licensing requirements for additional HMOs are often similar to those for mandatory licences, including room sizes, fire safety, and waste disposal provisions.Example of Additional Licensing Requirement: Camden Borough Council requires an additional HMO licence for properties rented by three or more people from two or more households, a standard used to maintain safe and comfortable housing for tenants.3. Selective LicensingSelective Licensing applies to all privately rented properties within specific areas, not just HMOs. This licence is typically used when the local council identifies issues related to low housing standards, poor property conditions, or antisocial behaviour. London boroughs with selective licensing schemes include Croydon, Barking, Dagenham, and Brent.Selective licensing does not specifically target HMOs but aims to improve overall housing quality within the designated areas. Unlike mandatory and additional licences, selective licensing covers all rental properties, whether they are HMOs or not. This requirement helps councils enforce property standards and ensure landlords maintain their properties responsibly.Exemptions to HMO LicensingNot all properties need an HMO licence. Properties managed directly by the local authority, housing associations, or specific charities may be exempt. 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Contact Cribs Estates today to learn how we can help you secure the right HMO licence and confidently manage your property in compliance with London’s latest regulations.

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