Welsh government to consider financial help in decarbonising rental properties

Welsh government to consider financial help in decarbonising rental properties

0:03 AM, 8th March 2023, About 9 months ago 4

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The Welsh government is being urged to consider offering financial incentives to landlords to help them decarbonise their rental properties.

The move follows advice given by industry body Propertymark to the influential Senedd Climate Change, Environment, and Infrastructure Committee’s inquiry into the decarbonisation of the PRS.

Some of its recommendations include starting a national campaign towards Net Zero and offering financial incentives for the PRS.

‘Interest free loans to landlords to help them decarbonise’

Though the plans have not been made into law, ministers have previously indicated that by April 2025, newly rented properties in England and Wales might need to meet a minimum EPC standard of C – tougher than the current E standard.

The regulation might also apply to existing tenancies from 2028, though there is no confirmation yet that the requirement to meet an EPC rating of C will be introduced.

Under current government regulations, landlords are not expected to spend more than £3,500 on EPC upgrades.

Propertymark says the cap on upgrade costs might be raised to £10,000, which would impact Welsh properties the hardest. The industry body says Welsh properties have some of the lowest property values in the UK and low energy efficiency ratings.

The organisation has recommended that the Development Bank of Wales should offer grants or interest free loans to landlords to help them decarbonise and to finance retrofitting their homes.

Also offering financial incentives such as reduced rates of Land Transaction Tax or Council Tax rebates for both landlords and homeowners should be considered.

‘Improving energy efficiency will help keep household bills down’

Propertymark is now calling for a clear strategy to support landlords in contributing to Net Zero and a Welsh-wide national communications campaign for tenants, landlords, agents, and homeowners should be undertaken.

The industry body says that by improving energy efficiency in homes, tenants will be helped to keep their household bills down.

Timothy Douglas, the head of policy and campaigns at Propertymark, said: “We support the Welsh Government’s aims of achieving Net Zero and moves to improve the energy efficiency of homes in Wales.

“A long-term housing decarbonisation strategy with cross-party support and realistic targets can help to achieve this.

“We now urge the Welsh Government to act upon these recommendations and work with the UK Government to introduce policies that allow landlords and homeowners to decarbonise their homes and properties in Wales.”

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Luke P

11:21 AM, 8th March 2023, About 9 months ago

I'm not a Welsh LL, but if I were, anything short of an automatic payment of £10k into my account with very little fuss or paperwork, won't stop me from exiting.

Always do these grants come with a lot of hassle and they seem to think that a couple of grand towards an ASHP will make you jump at the opportunity.

Even if I hadn't already made the decision to exit, any more regulation and requirements would make the entire model unviable (mentally, if not financially).

Mick Roberts

15:33 PM, 8th March 2023, About 9 months ago

I've just had a tenant who's been with me 15 years (20 in Mums house) refuse £6000 of free EPC work. Her house already thin and she din't want to lose any more.

Govt and Council are forgetting Have u asked what the tenant wants? Cause u only listening to the tenants who's paying extortionate rents for poor accommodation.
What about those that's saying cheap rent for good quality house? Cause u putting their rents up and making them homeless

Luke P

16:12 PM, 8th March 2023, About 9 months ago

Reply to the comment left by Mick Roberts at 08/03/2023 - 15:33
Indeed. Given a completely free choice, we'd all take, say, a car with the latest safety technology. However, if the choice was between a much older technology, very cheap car or a very expensive much safer car, then we can already see on the streets that personal finances are represented across the age/safety spectrum. If it were mandated that you MUST have only the very latest and safest (and therefore expensive) vehicles, what do you think driver's would say...?

Mick Roberts

6:25 AM, 9th March 2023, About 9 months ago

Reply to the comment left by Luke P at 08/03/2023 - 16:12
U say it perfectly Luke.
U all gonna have brand new stuff and your Landlord gonna' pay for it. And we not gonna allow him to recoup his costs. We know he can put his money elsewhere for a better return with less hassle, so we gonna' state control his property so he can't sell it.

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