In this two-minute read, we look at what the new grant scheme for green home improvements mean for landlords.
Chancellor Rishi Sunak made the big announcements about the property market last week and triggered a flurry of activity.
The initiative represents an attractive propositions for savvy landlords. But, as always, it pays to do your homework first.
Green Homes Grant
The Green Homes Grant scheme which aims to encourage property owners to make their homes more sustainable.
Full details on the scheme are still to come but, in essence, landlords can get a grant that covers two-thirds of the cost of energy efficiency improvements up to the value of £5,000. The scheme covers insulation, eco-friendly boilers, double glazing, draught-proofing, solar panels, and heat pumps.
To be eligible landlords will need to make an online application (the government promises the website will be up and running from September). Local suppliers will then quote on the work, and if the government approves the submission, it will issue a voucher.
So, if you’ve been thinking about replacing the rattling single-glazed windows at your property, or installing solar panels, now is an excellent time to take the plunge (once you’ve received the nod from the government, of course).
Providing the work is carried out to a high standard, this will be a good move for the environment and your pocket.
It’s also an opportunity to make a property more appealing to tenants (who doesn’t want to live in a home with low running costs?).
And should you wish to sell further down the line, it makes the property more marketable.
For advice about how best to make your property energy efficient, speak to us.
We’re used to advising clients about energy efficiency standards and can provide feedback about the most effective green measures.
For up-to-date analysis of the lettings market or advice about making a property more energy-efficient, contact us here at Harry Harper Sales & Lettings.
We’re here to help landlords realise the full potential of their investments.