The energetic renovation of the building stock to a sustainable heat consumption level and renewable heat generators is one of the pillars of the energy transition and an important goal for achieving the national climate protection goals. In rented residential buildings, building owners are allowed to pass some of the costs on to the tenants. The IÖW addresses the distribution of the total costs to these two groups of actors and to the public sector as funding provider in model calculations. The aim is to evaluate obstacles and possible solutions for ambitious renovation measures. The central results suggest that the purely energy-related renovation costs are more than offset by the heating cost savings of the tenants, even with an ambitious renovation level. An important prerequisite for this is that the landlords make use of the subsidies and thus lower the modernization levy on the tenants.