It's called the Green Deal Home Improvement Fund and anyone who applies could receive £1,000 by fitting a combination of two measures from a list of 12 approved schemes such as installing cavity wall insulation or a new boiler.
The scheme is open from June 1 to homeowners and tenants which means that landlords could have energy-saving improvements carried out to their property and receive the cash for doing so.
Landlords urged to install energy saving measures
Indeed, there's a possible £7,600 available should a landlord have an older property and carry out several improvements.
For instance, in addition to the £1,000 for installing two improvements, there's another £6,000 on offer for a landlord who insulates the solid walls in an old property. The landlord can claim back up to 75% of the cost of what can be an expensive process.
If the landlord had bought the property within the past 12 months and carried out the energy efficiency improvements there's another £500 on offer.
Landlords and the Green Deal Home Improvement Fund
Access to the Green Deal Home Improvement Fund is quite simple; a landlord needs to have a green deal assessment carried out or have an energy performance certificate, and there's a £100 refund available for the initial assessment, which will highlight the work that needs to be done.
This means the total that a landlord could claim, if they had their walls insulated, would be £7,600.
The bottom line is that the property will be cheaper to keep warm which is a bonus for a tenant and a sound investment for a landlord.
The scheme is part of a three-year energy-saving drive which has a budget of £540 million which is aimed at making public buildings and homes in England and Wales more energy efficient.
Improve energy use in a landlord’s property
Ed Davey, the energy and climate change secretary, said: “Faulty windows, faulty boilers and poor insulation all cause a property to leak hundreds of pounds every year but with the Green Deal we can help to put a stop to this.
“The result is that families across the country will enjoy lower fuel bills and warmer, more energy efficient homes by installing energy-saving improvements.”
Other improvements on the approved list include secondary glazing, replacement doors, replacement storage heaters, double glazing, floor installation and roof insulation.
For more information about the Green Deal Home Improvement Fund, visit the official website.
