While many are focusing on COP27 and various governments actions (or inaction) on climate change, industries taking positive action are often overlooked. Surprisingly, the home rental sector is one such industry with student HMOs one such growth area for renewable energy. It’s barely been talked about in the media so far.

HMOs catching up with purpose-built

Enclosed communities built with students in mind have been a thing for decades. It’s only in the last 20 years or so that it’s been available as private accommodation as well as on-campus. They are bright, clean, and with modern conveniences which includes energy efficiency. It’s no wonder students love them.

But private sector student HMOs are now catching up. Even more so than millennials, GenZ students are looking for better accommodation. It isn’t just about the current cost of energy crisis; they want what is best for the environment too.

There is evidence to show that this a big issue for everyone now. Owner occupiers who have no such incentive or pressure to improve energy efficiency, are certainly doing so. According to the Greener Homes Attitude Tracker, nearly two thirds are planning improvements in the next decade.

Few incentives until now

Whether it’s the current cost of energy or a generation now deeply concerned with the climate emergency, property owners and their agents are realising they could be onto a good thing. The attitude is nothing new – businesses can only thrive by keeping up with the changing needs of its customers.

Also, with technology continuing to develop and get cheaper, including the uptake of electric vehicles, now is the right time to change. Plus, the cost of installing solar panels has dropped by almost 90% since 2010.

If you’ve been in the game for a long time, you’ll no doubt know about the upcoming legislative changes and those that have gone before. We previously wrote about the EPC changes and it’s important to realise that legislation will not stop in 2025 (the deadline to improve to grade C).

Are you going bills excluded?

Students have, for many years, been able to take advantage of bills included rentals. It’s a way to make everything easier for everyone and can benefit owners and their agents too by taking control of admin students would rather avoid.

But with the current cost of living crisis heading into 2023 with no idea when it will end, landlords of student properties are moving to bills-excluded contracts.

It is therefore, in your best interests, to make the cost of living in your property as attractive as possible. Dealing with energy efficiency issues now could give you a leg up way before 2025.