If you are a landlord with rental properties in Surrey, you may have heard about the Green Homes Grant. As leading estate agents in Surrey, we have already handled quite a few enquiries from landlords who are keen to know more about the application process. Here we answer some of the most frequently asked questions about this exciting new government scheme.
Why is the grant being offered and how does it benefit landlords?
The Green Homes Grant aims to encourage property owners to invest in energy-efficient insulation and low carbon heating systems.
The grant is well-timed with respect to landlords’ legal requirements. By 2025 residential rental properties should be achieving an Energy Performance Certificate (EPC) rating of ‘D’ or higher, and by 2030 that increases to ‘C’ or higher. The energy efficiency upgrades you install now could therefore future proof your EPC requirements for at least the next decade.
When applying for the grant, landlords must provide evidence that their current EPC has a rating of E or higher (or give proof of exemption).
How much can I apply for?
The government is issuing vouchers to a maximum value of £5,000. The vouchers will pay for up to two-thirds of planned improvements, provided those upgrades qualify under the government’s list of ‘primary’ or ‘secondary’ measures.
What work can I claim for?
A grant application must include at least one ‘primary measure’ to upgrade home insulation or provide low carbon heating. Primary insulation measures could include under-floor insulation, solid or cavity wall insulation and loft insulation. If your property is already suitably insulated, you could install solar thermal panels, air or ground source heat pumps or a biomass pellet boiler.
Provided that you have included at least one primary measure in your application, you will be free to put any remaining money towards secondary measures. These could include double or triple glazing, energy-efficient replacement doors or smart heating controls.
Where can I find out more?
Go straight to the official government website to learn more and apply for a grant. Work must be completed no later than 31 March 2021.
Whether you have a single rental property or a wide portfolio of Surrey homes to let, we’re always happy to advise. Get in touch with us if you are looking for rental property investment (see our landlord letting guide on Buy-to-Let) or need help with letting and managing an existing property.