Going “green” is always in the news for one reason or another and with energy prices at an all-time high, there are many advantages to consumers if homes are more energy efficient. But as a landlord, are there any advantages to having “greener” rental properties?
The government is currently trying to encourage property owners to consider the benefits of going green, and with this in mind it has developed the Green Deal Scheme to help improve energy efficiency in homes and rental properties. At present, the scheme is still in the early stages, but if it does go ahead, loans would be made available to property owners, including landlords, from October 2012.
How would the Green Deal Scheme work?
The government intends to offer financial incentives in the form of grants towards green energy efficiency home improvements, including cavity wall and loft insulation. The repayments would be deducted via a levy added on to utility bills, but over time the increased energy efficiency of the property would ensure that energy bills would be lower anyway.
Are landlords likely to be interested?
When questioned as part of a survey by the National Landlords Association (NLA), more than two thirds of landlords expressed a serious interest in signing up for the Green Deal Scheme. Personally speaking, the thought of incentives towards adding energy efficiency features such as loft and cavity wall insulation makes sound economic sense. Not only do the tenants stand to benefit from the cost savings made on energy bills, I also stand to benefit by making my properties more marketable to new tenants, so everyone’s a winner!
