Landlords should know the importance of energy efficiency in their rental property. Landlords must ensure their property meets EPC standards. This can be costly, but there is support on offer, with the Green Homes Grant Scheme being of interest for many landlords.
How much can landlords get with the grant?
The Government website states;
“Vouchers will cover two-thirds of the cost of eligible improvements, up to a maximum government contribution of £5,000. If you, or someone in your household, receive certain benefits you may be eligible for a voucher covering 100% of the cost of the improvements. The maximum value of the voucher is £10,000.”
Can I claim the grant?
The grant is on offer in England to people who meet the following criteria:
- You own your own home (including long-leaseholders and shared ownership)
- You own your own park home on a residential site (including Gypsy and Traveller sites)
- You’re a residential landlord in the private or social rented sector (including local authorities and housing associations)
Therefore, residential landlords should be interested in the scheme. With the Green Homes Grant Scheme having been extended, landlords now have an additional year to apply for support.
A 12-month extension has been implemented after complaints from builders who said thousands of projects wouldn’t be completed by the initial deadline.
The initial deadline for the project was March 2021, but landlords and property owners have until March 2022 to ensure their projects are completed.
Landlords should apply sooner rather than later
It should be noted funding for the scheme hasn’t been extended, so landlords should apply for the scheme as quickly as possible.
Examples of work which is covered by the schemes can be seen below:
- The insulation of walls
- The insulation of roofs
- The insulation of floors
- Upgrading windows to double or triple glazing
- Installing low carbon heating systems
The Green Homes Grant scheme comes just as the government is – separately – raising the minimum energy efficiency standards for rental homes to C grade or higher from April 2025 for new tenancies unless they have a valid exemption.
Climate change minister Lord Callanan said; “The Green Homes Grant scheme gives homeowners and landlords right across the country a cheaper way to make their homes more energy efficient and cut their bills – all while making their contribution to tackling climate change.”
Lord Callanan continued by saying; “Today’s announcement means an extra year to take advantage of this new scheme, helping households and tradespeople who can plan their workload and create new jobs in their communities.”
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
You can find Just Lets Peterborough at 142 Oundle Road, Peterborough, Cambridgeshire, PE2 9PJ. Feel free to email us at firstname.lastname@example.org or call us today on 01733 346255.