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Let’s Talk About Green HMOs 🌱 

Don’t worry, we’re not going to go all David Attenborough on you but there are SO many benefits to creating greener HMOs and we’re here to tell you about some of them. Not only are they better for the environment, they’re also better for your bottom line. What’s not to love about new ways to increase your net income?!


Solar Panels


The cost of solar panels has dropped by more than 88% since 2010. The growth in supply of batteries and improvement in battery technology has meant a combined residential solar panel and battery installation now costs around £10,000, including installation. Most solar energy is generated between 10 am and 2 pm on a clear day and most of the electricity is surplus to a household’s demand. This mean that it must be distributed to the National Grid – often on a low-value export tariff. With a battery as part of the mix, the surplus electricity generated can be stored until later in the day when it is required. On a smart meter Economy 7 tariff, the battery can also be charged at a cheaper per-kilowatt-hour cost, further reducing electricity consumption costs. With all the noise around property EPC ratings at the moment too, there might be more than just environmental and financial benefits here!


Insulation


We spoke last week about how we always do a full refurb on properties. If you missed it, you could catch it here. Regulations vary in different areas but broadly, the required minimum temperatures for each unit of accommodation in an HMO is 18-20 degrees. If the property is old and inefficient, it will become incredibly costly to maintain those temperatures through heating alone. As part of our HMO refurbs, where required, we install the relevant insulation to the walls and roofs of the properties. It can also have a positive effect on the acoustic regulations for the property.


Motion Sensors


If tenants aren’t the ones directly paying the bills on their home, unless they’re very green minded, it’s like that they aren’t going to be too motivated to switch lights etc. off when they leave a room. By installing motion activated lighting to communal areas of the building such as the kitchen, bathrooms, landings, and hallways, you’re much less likely to be burning surplus energy. Again, a win for the environment and a win for your bottom line!


Top Tip: There are usually a few energy grants around to incentivise landlords to be more economical with their buildings so do some research before you dip into your refurb pot to see if there’s anything that you’re eligible for.

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