Landlords Give Green Light to Green DealMake Text Bigger
Landlords have given the green light to the Green Deal to improve energy efficiency in buy to let properties.
Around two thirds of property investors have told the National landlords Association (NLA) that they support upgrading their homes to meet the new standards.
The nod from landlords comes as MPs debate the proposed new Green Deal legislation in Parliament. The scheme is expected to start in October 2012.
The Green Deal offers landlords and other home owners the chance to add energy efficiency improvements from loft insulation to boiler upgrades and double glazing to their homes.
The cost is taken care of by a loan that is repaid over an agreed term, likely to be around 10 years, from a levy added to the price of energy. The intention is the savings from the improvements will cancel out the cost of the work.
The NLA survey found 24 per cent of landlords would definitely take advantage of the Green Deal, while a further 38 per cent are keen to find out more details. Around one in five landlords are unsure about the deal, and 17 per cent say it has no appeal.
Landlords told the NLA that their reasons for taking up the Green Deal would be to reduce energy bills for tenants, add value to the property and to become more eco-friendly.
David Salusbury, NLA Chairman, said: “The Green Deal presents an excellent opportunity for landlords to improve the energy efficiency of their properties, helping tenants save on their bills and do their bit for the environment.
“The scheme guarantees tenants lower utility bills while providing them with warmer homes and landlords will benefit from long-term improvements to their properties.
“It’s pleasing to see that two-thirds of landlords are considering using the Green Deal to improve their properties when grants become available next year, but the actual cost of these improvements will be a key factor.”
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