The Green Deal for Landlords
The rental market can be very competitive, and energy efficiency is one area that potential tenants will be interested in before signing a contract. A property that has a good energy performance is easy to keep warm and considered ‘green’; proving an asset to you as a landlord. Green Deal for landlords makes this a possibility without the need for upfront payments.
How does it work?
As a landlord, you can increase the energy-efficiency of your rental property without making an upfront investment. Instead, a Green Deal Provider will foot the bill for any required upgrades or installations, and this cost will be recouped over a period of time through the savings made on energy bills, by your tenants.
How do you qualify?
The Green Deal begins with an assessment, carried out by a Green Deal Assessor. Once your property has been surveyed, you will be provided with a set of recommendations in the form of a Green Deal Advice Report.
If your property will benefit from energy-efficiency improvements, a Green Deal Plan will be produced detailing the improvements to be made, and how this will be repaid. Once agreed, a Green Deal Installer will carry out the work.
If your property is tenanted, it will be the occupants who meet the repayment costs via their bills. If your property is vacant, then you will be responsible as the landlord.
What products are included?
The products included in the Green Deal for landlords includes measures to save you energy and money, as well as transform your property into one that is more environmentally friendly. This includes measures to retain the heat within your property, such as:
- High performance external doors
- Replacement glazing
- Loft and roof insulation
- Sealing improvements
Ways to heat your property in a more efficient and cost-effective manner, including:
- Heating controls
- Cylinder thermostats
- A-rated boilers
- Hot water showers, taps and systems
Home energy generation methods including:
- Micro wind generation
- Solar PV
- Micro combined heat and power
- Lighting systems, fittings and controls
How does the Green Deal work in practice?
As an example, if your property has an old, inefficient boiler, a Green Deal Assessor may recommend an upgrade. Boilers are rated from A-G in energy efficiency – if your existing boiler is G-rated, then a new A-rated boiler could save up to £300 a year in energy bills.
Once installed, your tenants will then pay back the cost of your boiler upgrade (including a fixed rate of interest) via their bills. Your energy provider will pass the savings you have made onto your Green Deal Provider until all costs have been recouped. The full details will be included within the Green Deal Plan.