How Leeds Landlords can take advantage of The Green Deal

The Prime Minister has announced the extension of both the Green Homes Grant until March 2022 and Landlords should look to capitalise on any possible advantage they can. The Green Homes Grant is a brilliant opportunity to help landlords in Leeds and all across the country.

Originally set to finish in March 2021, the scheme has just been extended until March 2022. The scheme is set to deliver £2 billion worth of support to homeowners, which is open to landlords as well as owner occupiers, and can help them make energy saving improvements on their home or investment property.

Landlords should be proactive

Landlords should already be aware that there is a legal requirement for their rental property to hold a minimum Energy Performance Certificate (EPC) of an E or higher.  As of 1 April 2020,  these regulations apply to all existing tenancies as well as new agreements. In addition, the Government has recently open consultation on proposals which would raise the minimum EPC standard to a C.

The new outline proposals are as follows:

• All new tenancies from 1 April 2025 and all existing tenancies by 1 April 2028 will have to meet band C or higher on an EPC
• Landlords will be required to have a valid EPC in place at all times while a property is tenanted
• Landlords will be required to install ‘fabric first’ measures e.g. insulation
• Landlords will be encouraged to support the uptake of smart meters
• Tenants will be able to request improvements and redress where a property does not meet the requirements
• Landlords will be required to provide an EPC prior to a property being advertised

The Green Deal is a fantastic way to lower costs, while making significant improvements to their property.

How does the Government’s Green Homes Grant work?

As of September 2020, property owners in England are eligible to claim up to £5,000 worth of vouchers (or £10,000 for low-income households). These vouchers can be used to make energy saving improvements, making a property more energy-efficient.

While the scheme is helpful to owner-occupiers, it is also open to landlords. This can offer significant help to improve the portfolios of investors with buy to let properties.

We would encourage all our landlords to make use of the Green Homes Grant where they can. It’s always a good idea to be prepared for changes in legislation, but it’s even more important from an environmental perspective. Every landlord should do what they can to make their homes more energy efficient for their tenants, to keep down running costs and to help protect the environment too.

– Luke Gidney, MD of HOP

How to apply

To access the Green Homes Grant, you’ll need to apply on the Government website: https://www.gov.uk/apply-green-homes-grant

The website also has an eligibility checker and a list of accredited companies from which you can get an official Green Deal Assessment and a quote for the recommended work. Once your application has been approved, the government will give you your voucher and you’ll be able to start work.

Bear in mind, that in most cases, the grant won’t cover everything, and you will have to pay part of the costs but the voucher will normally pay for around two-thirds of the work.

What does it cover?

Some of the improvements that can be made with the vouchers include:

• Wall insulation
• Under-floor insulation
• Roof insulation
• The installation of low-carbon heating technologies such as heat pumps
• Solar thermal systems

In addition, after the property owner has received their first voucher, they can apply for a second one too. This can be used towards the cost of home improvements such as:

• Double or triple glazing
• Energy-efficient doors
• Heating controls
• Hot water tank insulation
• Draught proofing

EPC legislation is just of the many rules and regulations that Landlords have to adhere to. Keeping abreast with changing regulations can be tricky, which is why working with a fully accredited letting agent like HOP can be a great help. We’ll work with you to ensure you are meeting all the necessary requirements and ready for any changes in legislation.

If you are looking for experienced support from award-winning professionals in Leeds, we can help you ensure you are meeting all of your obligations as a landlord. Contact our friendly team to arrange a no obligation appraisal.

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