The Government’s Green Deal comes into effect today, so if you haven’t already made energy saving improvements to your properties, now would be a good time to look into what is on offer.
How does the Green Deal work?
The Green Deal is designed to let landlords and other property owners make energy saving improvements without having to pay the costs up front. Typical home improvements worth considering include:
Double-glazing
Loft insulation
Cavity wall insulation
Energy efficient heating system
Renewable energy technology, including solar panels
Any one of these home improvements will cut energy bills and make the property a lot more attractive to potential tenants.
The Green Deal is fairly simple: an assessment needs to be carried out to see what improvements are necessary and how much can potentially be saved. Any work agreed upon is then paid for through the electricity bill on the property, so even if a tenant moves on, the Green Deal contract remains with the property.
Do I need to ask permission from my tenant?
Landlords must obtain permission from their tenant before signing a Green Deal contract allowing work to go ahead; the same applies to tenants.
What happens if I don’t bother having any work done?
All rental properties must reach a minimum level of energy efficiency by 2018, and if they don’t, landlords will not be allowed to let them. So it makes sense to have the essential work done now while government funding is available. A failure to do so may incur penalties at a later date.
