Enfield Landlords – Green Homes Grant Scheme Extended
We know being a landlord is a challenging role, and there are so many things to consider and take care of. At The Letting Line, we aim to provide as much support and guidance as we can across our range of letting and property management services.
We know energy-efficiency is an important issue for landlords. With an energy-efficient rental property, tenants will feel more comfortable, and can lower their energy bills. This is good news for tenants, and landlords benefit in the short and long-term.
With proposals for changes to the Energy Performance Certificate (EPC) standards being discussed, many landlords might be forced to carry out energy-efficient improvements. This can be costly, which is why any help is welcome for landlords.
There is a Green Homes Grant Scheme in place to support the cost of improvements, and there is good news for landlords with the scheme being extended.
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 to 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
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 looking for guidance or assistance in the Enfield rental market, we can help. At The Letting Line, we are a specialist letting and property management agent serving Enfield, Barnet, Potters Bar, Brookmans Park and surrounding areas.
We can arrange a free valuation for you, and if you are looking to contact us, please call us on 020 8342 1234.