NEWS

Landlords More Positive About Energy Efficiency

19 February 2013

Interest in the Green Deal is increasing amongst landlords, a recent survey shows.

According to the Association of Residential Letting Agents (ARLA), 62% of landlords questioned were considering the Green Deal to make energy efficiency improvements, including Cavity Wall Insulation and Solid Wall Insulation to their rental properties.

The high percentage will be a boost to the Government scheme, which was officially launched at the end of January.

Recent reports suggest that 39% of the public had been made aware of the scheme just two weeks after its launch. Landlords however are likely to be quicker on the uptake due to Government sanctions that will come into place over the next five years.

The Green Deal allows householders to apply for a loan or grant in order to make improvements such as Cavity Wall Insulation, Solid Wall Insulation, and Boiler Replacement. The sum of the loan is then paid back via the electricity bill and is thus attached to the property.

Such improvements are first and foremost in the minds of landlords.

According to Simon Gordon of the Residential Landlord’s Association, 40% of the private rented sector is made up of properties built before 1919. As such, these aged properties are likely to require more work to be brought up to standards set out by the Department of Energy and Climate Change (DECC).

Cavity Wall Insulation is a popular choice with those looking to take advantage of the Green Deal due to it being fairly inexpensive. In most cases, those considering Solid Wall Insulation will no longer have to apply for planning permission as was previously the case.

The Energy Act 2011 made it mandatory for all residential and commercial let properties to include an Energy Performance Certificate (EPC). An EPC is used to grade a property based on its energy efficiency. The most efficient properties, those which likely feature the Solid Wall Insulation or Cavity Wall Insulation, are placed in Band A – which requires a rating of 92% or more – while the least efficient properties are classed as Band G – with a rating of between 1 and 20%.

After 2018, it will be illegal for properties in Bands F and G to be let or sold. Improvements will need to be made until the property reaches Band E before the property can be put on the market. This date has been moved forward to 2015 in Scotland.

The survey carried out by ARLA goes on to state that 61% of landlords questioned believed their properties already to be rated Band E or above.

For the remaining 39%, the Government believe that the Green Deal is the answer.


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