Keith Marjason DEA
Energy Performance Certificates for residential lettings.
From October 2008 landlords must make an Energy Performance Certificate (EPC) available to prospective tenants as part of the lettings process. The EPC, which is a valid for 10 years, will rate the property's energy performance and make recommendations about how to improve the energy efficiency of the property.
For landlords with a number of properties the cost of obtaining EPC's potentially could be significant but these are required only on the new letting of property. If energy assessments are required on portfolios of property, I will agree specially reduced fees.
Financial assistance can be obtained to improve the energy performance of let property from a range of sources, including local authorities, the taxman and energy companies. Schemes include:
The Landlord Energy
Saving Allowance
The LESA was introduced by the government in 2004 and allows private and corporate
landlords who pay income tax to claim back up to £1,500 per property for
the installation of energy saving measures, such as loft insulation, cavity
wall, floor, hot water system and solid wall insulation as well as draught proofing.
The scheme applies per property, rather than per building, so a house converted
into 4 flats would be eligible for 4 separate grants, totalling up to £6,000.
The allowance though does not cover holiday lets or resident landlords.
www.hmrc.gov.uk
Warm Front
Grants of up to £2,700 are available to tenants of private landlords,
if they are in receipt of certain benefits, to make insulation and heating improvements
to a property. The landlord does not have to make any financial contribution,
only give permission to their tenants for the work to be carried out on the
property. The tenant must apply for the grant and a Warm Front assessor will
visit the property to suggest which improvements should be made.
www.warmfront.co.uk
Local council benefits and
grants
Local authorities and councils in the UK offer a range of different grants and
financial assistance to landlords to help them improve the energy performance
of their property, but the level of assistance differs from council to council.
To check what grants landlords are entitled to from their local authority
call the Energy Efficiency Advice Centre on 0800 512 012
Energy supplier grants
Energy companies offer subsidised rates on insulation and certain grants to
their customers. Many of these grants are available to customers who rent property
as well as to homeowners, so tenants could be entitled to discounts on measures
such as cavity and loft insulation.
Contact your local supplier for details.