At a time when energy prices are rising and average household disposable income is reportedly at its lowest, making a rental property more energy efficient makes sound commercial sense – particularly if you can do it with some help from the government.
As a Private Landlord, there are currently finance options available towards the cost of making energy saving improvements to your property portfolio through Warm Up Bristol. Bristol City Council has successfully secured funding to help landlords and tenants improve the energy efficiency of their properties with Energy Performance Certificate (EPC) ratings of E, F or G.
- Funding for two thirds of the cost, up to a maximum of £3,000, towards the installation of any energy efficiency measures recommended by a Green Deal Assessment
- Additional support available for new gas connections - up to £1,000 additional funding available
- A heavily discounted Green Deal Assessment costing £49 (usually £150) - refunded once you go ahead with the installation
- Finance options for your contribution towards the cost.
The benefits of installing energy saving measures in your rental property include:
- Making your properties more desirable to tenants; giving you fewer void periods
- Lowering energy bills, creating more disposable income for tenants and resulting in a lower chance of rental arrears
- Reducing complaints about issues such as damp, condensation and mould – saving you time and money
- Producing EPCs with higher scores – enabling you to keep one step ahead of new regulations**
- Reducing your maintenance costs.
Warm Up Bristol offers:
- Competitive installation rates
- Complete project management service, from assessment to installation
- Professional, high quality installations by local installers who have gone through a rigorous accreditation process
- Guarantees for all the work you have carried out.
Act now to:
- Stay ahead of the game and avoid the last minute rush when new legislation* comes into force
- Take advantage of grant funding, allowances and incentives that are currently available, but may not be in the future
- Control the quality of energy saving improvements being made to your properties
- Avoid possible council inspection arising from hazard concerns under the Housing Act 2004***
Funding is available for a maximum of 10 properties per landlord/owner.
What's the next step?
- Get in touch and register your interest. Call our team on 01173521180, or register via the registration form. Our advisors will talk you through the funding options and answer any queries you have.
- Home assessment. For just £49, a fully accredited assessor will visit your property to identify which energy saving measures are suitable. You'll receive a tailored report and we'll contact you to discuss which measures you'd like to install.
- Your quote. Your quote will outline which energy saving measures are included, as well as any grants you are entitled to and options to finance the works.
- Installation. We'll be in touch to introduce you to your local installer team and arrange a start date for the work.
- Sit back and relax. Throughout the process your installation team will keep you up to date with progress and ensure you are fully satisfied with how the team are working.
** Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015. New regulations, currently still in draft form, state from 2016 any tenant asking for consent to make reasonable energy saving improvements to their property cannot be refused. From 2018, landlords will be unable to let properties with an EPC score lower than an E, unless subject to an exemption. Read the full regulations for Private Landlords here.
*** A property with an EPC score of F or G is likely to have a serious hazard under the Housing Act 2004, which local authorities have a statutory duty to address. If you do not take action to improve the energy efficiency of the property, you may face enforcement action.
Wessex Home Improvement Loans
Bristol City Council are offering energy loans to private homeowners and landlords through our partner Wessex Home Improvement Loans, to work in conjunction with Warm up Bristol. A summary of the loan details are as follows:
- The loan is available to property owners with properties which have an EPC rating of E, F or G, and who have a contribution to make towards the cost of making energy efficiency improvements
- The maximum loan is £15,000 and is limited to a maximum of 4 landlord loan applications per property
- Repayments are capital and interest only and the interest rate is fixed at 5%
- The maximum term of the loan is five years
- Renewable energy products are excluded from the loan.
Owners must have sufficient equity in their property to cover the agreed loan and you will be contacted to undertake a financial assessment before the loan can be agreed. For more information, visit the Wessex Home Improvement loan website or ring 01823 462048. You can also contact your local Private Housing Team in Bristol on 0117 3525010.