Extract: Will there be enough Green Deal resources to meet the demand of landlords over the next few years?
Landlords renting out properties in the UK have been warned about the feasibility of Green Deal insulation targets, ahead of new energy efficiency rules coming into force.
Letting agency GFW Lettings has called on the country’s landlords to make sure they are aware that as of April 2018, they will be required to increase the energy efficiency standards of newly-let properties so that they comply with the Energy Performance Certificate rating of E or above.
What’s more, all existing rented properties will have to meet this standard as of April 2020, as the government strives to lower Britain’s excess carbon dioxide emissions, which may be having a negative impact on the environment.
However, the agency has warned that private sector landlords may face significant challenges in relation to this, as new Green Deal targets from the government could make it difficult for them to access funding for improved home insulation and better boilers to install in the properties they let.
GFW Lettings believes that the new targets will be good news for tenants, as their energy bills should be lowered, their homes made warmer and their carbon emissions reduced.
Yet with figures showing that around one million landlords may need access to energy-saving measures under the scheme, there are concerns that resources may run out and property owners will have to fund the improvements themselves.
It has been estimated that up to £9,000 may need to be spent on each property that requires insulation improvements under the scheme.
Operations and letting manager at GFW Lettings Fran Mulhall commented: “They might be able to get some financial support under the Green Deal or Energy Company Obligation via their tenants’ energy supplier to ensure properties meet the required standards, but given that nearly half a million UK homes fail to meet the required E rating, they could be hit with thousands of pounds worth of bills.”
https://landlordnews.co.uk/letting-agent-warns-on-upcoming-green-deal/