The details of the governments new Green Home Grants have recently been announced. In this blog post we would like to share with you how the green home grant might cut landlords costs. We will also answer some questions we have already been asked by our landlords about how the green homes grant might cut costs for them and what they need to do.
What Is The Green Homes Grant?
The Green Homes Grant will be available from next month, September 2020. It is a £2 billion grant that allows homeowners and landlords to apply for vouchers. These vouchers can be up to the value of £5,000 (or £10,000 if it a low-income household). These vouchers can be used to pay towards energy saving home improvements. This includes things like loft and wall insulation or replacing single glazed windows with double glazed windows.
What Will It Cost Me?
The government scheme will only fund up to two thirds of the cost. As the landlord you will be expected to pay the remaining balance.
Can I Get The Voucher And Do The Improvements Myself?
In short, no! The vouchers can only be used to pay for accredited tradespersons. The tradesperson must be registered with TrustMark or already be certified under the Microgeneration Certification Scheme.
What Kind Of Home Improvements Does The Grant Cover?
There are primary and secondary grants available. You will get a voucher to install at least one primary improvement. These primary improvements include solid and cavity wall insulation, under floor insulation and loft or roof insulation. Low carbon heating such as ait-source or ground-source heat pumps or solar thermal systems are also covered in the primary improvements grant.
Once you have been granted a measure from the primary improvements you can claim for a second grant that will cover secondary improvements. These secondary improvements cover replace of single glazing to double or triple glazing, upgrading doors to energy efficient doors, draught proofing or heating controls and insulation.
Why Is The Green Homes Grant Important To Landlords?
As a landlord it is required that your rented property has a minimum energy performance rating of ‘E’ or above. However, in the future this is likely to change. Some experts think minimum standards for rented properties in Peterborough could rise to a rating of D or even C. By using this government funding now, you can ensure your rented home in Peterborough is ready is changes do happen in the future.