To read this article, click on this link – The energy efficiency of homes.
The advice being issued currently is that landlords may wish to start reviewing stock in their portfolios and/or, preparing to make the necessary upgrades. Landlords can access a grant towards energy efficiency improvements through the new Green Homes Grant.
This article gives more information about the Green Homes Grant Scheme and explains how it works for residential landlords.
The government is offering financial support towards the cost of improving the energy efficiency of properties owned by residential landlords. You can claim a Green Homes Grant voucher which will cover two-thirds of the cost of making the changes. The maximum contribution from the government is £35000.
Vouchers must be used to install at least one primary home insulation or low carbon heating measure.
If landlords choose to install at least one of the primary measures, they can use the voucher to help cover the cost of secondary measures. The subsidy for the secondary measure is capped at the value of the subsidy provided for the primary measures
The types of Primary improvements could be:
Secondary improvements are:
The eligibility criteria for the Green Homes Grant Scheme are that you must live in England, your own your home and you are a residential landlord in the private or social rented sector.
The Green Homes Grant is not available for newly built homes that have not been previously occupied.
For eligibility check click here – Check if youre eligible for a Green Homes Grant.
Our Director Adam Kingswood stated, ‘It is important to note that the vouchers must be redeemed before 31st of March 2022. Although this seems like plenty of time you need to take into account that in the current climate with the Coronavirus pandemic it is not always easy to get work completed especially if the property is occupied, so we suggest that if you do want to take advantage of this voucher, you plan ahead. If you have one or more properties, we will be able to help you to get this organised in time.’
We also wanted to share this website with you – Simple Energy Advice. This gives some tips about measures you can put into place straight away, which will help save money on energy bills in your property. For example, by sealing unwanted gaps around doors and windows, you could cut heat loss by 40%.
In addition, you can get personalised advice. If you enter the postcode of the property, you want to check you will get information about when the last Energy Performance Certificate (EPC) was produced and the rating. You can then answer a series of questions which relate to the property. The information is used to give you advice and also information about any grants that may be available in your area.
We hope you found this useful, if you need any further information contact us, we are always happy to help.
We are specialists in the letting, management and investment of residential properties in Nottinghamshire, so if you are a landlord or property investor contact us by calling 0115 704 3163 (Nottingham) or 01623 277115 (Mansfield). Alternatively, you can email us via our contact us page – click here.