Use Green Deal to make properties more attractive to tenants
Posted by Gary Winter
Those with properties listed with residential lettings agents could find they generate more interest from tenants if they take advantage of the government's Green Deal.
This week, energy secretary Chris Huhne announced the start of the consultation phase of the scheme, with a planned launch date of next autumn.
Under the proposals, landlords and other property owners would be able to access interest-free loans to carry out improvements that increase energy efficiency.
Repayments would then be made by a surcharge on utility bills, which would be offset by the savings made by reduced energy consumption.
According to Mr Huhne, the scheme will see £14 billion worth of private sector funds invested in home energy improvements over the next decade.
"By stimulating billions of pounds of private sector investment, the Green Deal will revolutionise the way that we keep our homes warm, making them cosier, more efficient and all at no upfront cost," he said.
Landlords who take advantage of the initiative might be able to better attract tenants by offering them lower bills and a more eco-friendly property.
Responding to the launch of the consultation phase of the Green Deal, David Salusbury, chairman of the National Landlords Association (NLA), urged buy-to-let property owners to take up the offer.
"The Green Deal represents a good opportunity for landlords and homeowners to increase the energy efficiency of their properties," he said.
"By enabling landlords to make necessary improvements at no direct cost, it overcomes the obstacles which have constrained previous initiatives, at the same time offering a real benefit to households."
It follows a recent survey by the NLA which found that over two thirds of landlords would consider taking advantage of the Green Deal.
"It is our aim to support landlords through this process," added Mr Salusbury.
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