Boost your EPC: what landlord grants are available?

 

Thousands of properties in the private rented sector may need to be retrofitted to meet new EPC standards, but there are some landlord grants available.

Property agent membership body Propertymark has recently urged letting agents to look into the options available for the properties on their books to upgrade their energy ratings. There are several landlord grants out there that can be taken advantage of, says the body.

One of the latest schemes to be unrolled by the government is landlord grants towards upgrading the boilers and heating systems in their properties. The Boiler Upgrade Scheme is available for homeowners and those with second homes, too.

The scheme offers grants of up to £5,000 towards the cost of an air source heat pump and £6,000 for a ground source heat pump. It is also offering £5,000 towards a biomass boiler for properties in rural areas and those not connected to the gas grid in England and Wales.

What other landlord grants and incentives are out there?

As of 1st April, the rate of VAT to be paid on certain energy saving materials has been reduced to 0%. This rate will be in place for five years, before reverting to the 5% reduced rate of VAT.

The government also has a Green Deal strategy in place, which can be used for a range of measures in a rental property. These include replacing windows and doors, installing secondary glazing, using energy efficient lighting and upgrading heating.

Landlords must get a property assessed to access the Green Deal. There is a Green Deal Finance Plan available to help with the costs of upgrades.

Grants are also available in certain instances for energy efficiency improvements where the tenants are on benefits, for example. Find more information here.

There is also an electric vehicle chargepoint grant for landlords currently available. The grant amount given is per chargepoint socket installed. It provides up to 75% of the cost towards the purchase and installation of a chargepoint socket, limited to £350 per grant.

Landlords can receive up to 200 grants a year for residential properties, and a further 100 for commercial properties.

Making a property more appealing

Current Minimum Energy Efficiency Standards (MEES) state that all privately rented properties must have an EPC rating of E or higher. However, it is widely reported that these could be set to change within the next few years, raising the bar for rental homes.

With escalating energy bills alongside a greater emphasis on environmental responsibility, tenants are already beginning to seek out more energy efficient properties. Therefore, landlords who factor this in could see more demand for their homes.

Timothy Douglas, head of policy and campaigns for Propertymark, said: “The challenge of retrofitting the UK’s housing stock is going to be huge, but funding schemes are now starting to emerge and Propertymark continues to urge policy makers to come up with more incentives for the sector.

“Better energy efficiency can reduce bills for tenants and make a property a better proposition to be let out, but there is not a single solution.

“Now is the time for letting agents to begin conversations with their landlords to look at all the options and explore how they can maximise grants and other financial support available.”

Older homes falling behind

As the emphasis on boosting the country’s eco credentials continues, it is likely that more landlord grants could be rolled out in the future to bring the private rented sector up to standard.

Older housing stock is the least energy efficient generally, with most modern new-builds boasting the highest energy efficiency ratings. One recent survey from Shawbrook Bank noted that landlords are already leaning towards more energy efficient property investments.

A report from the Department for Levelling Up, Housing & Communities also highlighted the stark difference between the EPC ratings of the UK’s older homes compared with new-builds.

BuyAssociation sources exclusive residential property investment opportunities across the UK, with an emphasis on new-builds and newly converted homes. Get in touch to find out more.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

landlord grants EPC

Boost your EPC: what landlord grants are available?

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.