The Benefits Of EPC Grants For Landlords

Rental properties, whether you have tenants currently in place or not, are your responsibility. As the landlord you should be aware of housing regulations and standards, making sure that your property is kept to a high standard and in line with government regulations. 

Fortunately, there is an option available to help landlords improve the energy efficiency of their properties and potentially save on costs – Energy Performance Certificate (EPC) grants. 

Energy efficiency grant schemes such as the ECO4 Grant is an option for landlords to utilise the financial support of the UK government in order to make home improvements and upgrades to properties intended for the rental market. Not only does this mean landlords can save money, but can ensure that homes are fitted with the right solutions to ensure an improvement to their EPC rating. 

1. EPC Grants – Increase Property Value

One of the main benefits of utilising an EPC grant is that it can significantly increase the value of your property. A higher energy efficiency rating means a more attractive property for potential tenants, making it easier to rent out and potentially increasing the rental income. This can also be an attractive selling point for potential buyers if you decide to sell your property in the future. In recent years, research suggests that properties that have undergone home improvements such as boiler upgrades, new loft insulation and heating upgrades, can see up to a 20% increase in property value.

 2. Lower Maintenance Costs

An energy efficient property means lower maintenance costs for landlords. With upgrades such as insulation, double glazing, and more efficient heating systems, there will be less need for constant repairs. This will provide a sigh of relief for many landlords who have the responsibility of keeping a property or multiple properties running to a high standard for their tenants. If you are regularly making routine visits to your rental property to check on the boiler, for example, now may be a good time to consider the ECO4 grant.

Not only can this grant improve your EPC rating, it can also save you time and money on costly repairs in the long run. 

 3. Attract Quality Tenants

A high energy efficiency rating is an attractive feature for potential tenants. An EPC certificate is required for all rental properties and tenants are becoming more aware of the importance of a good rating. More and more people are asking their rental companies and estate agents for information about the EPC rating of a property before expressing interest in renting the property. Those landlords with a more energy efficient property are much more likely to house tenants who will tick the boxes of a ‘good’ tenant.

This could include paying rent on time, keeping the property clean and tidy, and reporting any maintenance issues promptly. 

 4. Lower Carbon Footprint

With increasing awareness of climate change and the need to reduce carbon emissions, many tenants are actively seeking out properties with a lower environmental impact. By utilising EPC grants to improve the energy efficiency of your rental property you will be helping to lower your carbon footprint, having a positive impact on the environment for the  future. Not only this, but you will be futureproofing your rental property. With an unpredictable energy market and climate change having a greater impact than ever before, now is the right time to make these changes for tomorrow.

5. Meeting The Requirements Of The Government

For landlords it has never been more important than ever to ensure a rented property has a high enough EPC rating. This is because the UK government has laid the plans to ensure that the UK’s housing stock is brought up to a sufficient level, meeting the Minimum Energy Efficiency Standards (MEES). Setting a goal that all domestic properties in the UK will require an EPC rating of C or higher by 2030. For landlords who do not achieve this, penalties will occur.

As of now, the focus will be on ensuring that a property’s EPC rating is lifted to at least a D by 2025.

ECO Funding can help with this. providing the financial support that landlords may need in order to get the work done. From fitting new boilers to re-doing old insulation in the loft or the walls, and reviewing homes that do not currently have central heating and installing this for the first time.

Landlords Eligibility For ECO Funding

Currently landlords will need to check their eligibility in order to apply for the current ECO4 Scheme. At Eco Providers, you can use our handy grant application form to find out in just a few minutes if you qualify for funding. 

Landlords with private rented properties in some of the lowest bands (E-G) are to be supported by the scheme. If you are not aware of your current EPC rating, it is important to have your property assessed by a government-recognised assessor, who will visit your rented property and provide you with an EPC Certificate. 
For more information about ECO Funding for landlords, do not hesitate to get in touch with our team.

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