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Have You Made Plans To Go Green?

March 20th 2015
By: Acquarone

Are you aware that from April 2018 landlords will need to make sure that all of their properties have an Energy Performance Certificate (EPC) rating of at least band E or higher? This initiative forms part of the Energy Act 2011 and failure to make changes and falling short of the requirements will prevent landlords from lawfully renting the property out.

To add to this, as of April 2016 tenants will hold the right to request that their landlord make their rented homes cheaper to keep warm if they don’t meet the energy efficiency standard. Failure to make the necessary improvements or comply with reasonable requests by tenants could lead to the landlord going to court and incurring financial penalties.

With that being said there is no need to panic, there are many schemes and incentives available to landlords to help increase the efficiency of their rented properties.

Once such scheme is the Landlord’s Energy Saving Allowance that can help Landlords reduce their tax bill by up to £1,500 a year per property the let provided they buy and install a number of energy saving products, which includes various forms of insulation and draught proofing. There is a slight catch as Landlords have until the 5th of April to make their claim. You can find out more about the scheme by visiting the Government’s Landlord Energy Saving Allowance schemes site (link here).

A different scheme that you may want to look at is the Green Deal, which is designed to help landlords make energy saving improvements without paying all of the cost up front. More often than not, the repayment cost is factored into the electricity bill so if your tenant pays the bills you would have to seek their permission and make any future tenants aware of the repayments. You can read more about the Green Deal here

Source: 20/03/15 http://www.estateagenttoday.co.uk/industry-views/2120-going-green-why-landlords-need-to-prepare-now-for-the-energy-act-2011