There are some grants available to landlords to help them with such things as installing energy efficiency measures, improving the standard of a house in multiple occupation, and renovating empty properties in areas where there is a shortage of housing. Many of these grants are administered by the local authority so the availability and eligibility will depend on the location of your property(s).
There are grants available that help a landlord improve the energy efficiency of their property. It is now a legal requirement for prospective tenants to be given a copy of a property’s energy performance certificate (EPC) before they sign the tenancy agreement. Many people will find a property more attractive if they know it is going to be warmer, more comfortable to live in and that their energy bills will be lower.
To help landlords with the cost of installing energy efficiency measures, such as insulation and replacement boilers, there is an Energy Companies Obligation (ECO) grant scheme that is linked to the government’s Green Deal.
- This scheme is available in low-income areas and in properties that are harder to treat, for example, older properties without cavity walls.
- Solid wall insulation is relatively expensive to install but it can help reduce your tenant’s energy bills by nearly £500 per year according to the Energy Saving Trust.
- The ECO scheme provides some funding, with the remainder coming from a Green Deal loan.
- Depending on the location of your property(s), you may be eligible to receive free loft and cavity wall insulation from an energy supplier.
HMO conversion grant
Houses in multiple occupation (HMO) are those that have multiple households living under the same roof and sharing facilities such as the bathroom and kitchen. These grants are offered by some local authorities and can give landlords up to £30,000 to bring a property in line with current minimum HMO standards.
Renovation of empty properties
Some local authorities offer grants to landlords of properties that have been empty for a while.
- It is usually a condition that the property is to be let to a council-nominated tenant on a long-term lease for a certain period of time after the work is completed.
- The grant would normally cover 50% of the renovation cost.
- The purpose of empty property grants is to bring empty properties back into the housing stock and make them available for people to live in.
Landlord grants in Swale
Decent Home Loans may be available to landlords to help them improve the standard of their property. The loan of up to £15,000 is available interest-free as long as the landlord intends to let the property to a vulnerable household.
Heating and Insulation Loans may be available to landlords who want to install energy efficiency measures in their properties, as long as they agree to let to tenants on a means-tested benefit after the works e.g. cavity wall insulation, boiler replacement, or central heating, are completed.
Contact Swale Borough Council for more information.
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