By April the government will have implemented MEES (Minimum Energy Efficiency Standards) which will request privately rented properties to have an energy performance rating of E- as a minimum. Many of the millions of rented homes that are below the minimum rating today, have virtually no time at all to raise the capital and make significant changes to their properties, which will come at quite a cost...
Private Landlords will be able to apply for a loan from a number of GDPs around the country, since the sale of The Green Deal Finance Company to private investors. This means that costs towards making your property will be more energy efficient, covering repayments will be made by the tenants as the monthly payoff is included within their energy bill. Landlords and Tenants will both benefit from The Green Deal as Energy Bills will still go down and the improvements to the property will mean a more attractive space.
This all comes as great news to UK Landlords who have been worried about finding the funds to make upgrades to their properties in such a short space of time - especially Landlords who, unintentionally, rented homes due to inheriting after a death in the family or leaving a property empty when moving in with a partner - which reports released in 2014 suggesting 89% of UK Landlords are private individuals - proves many Landlords may have this problem.
So make sure your property is more energy efficient before the laws change, that could keep you from letting your property and result in lost income.
Renting a property can be a daunting process, but it doesn’t have to be that way. Our letting experts will give you all the support you need to find the perfect tenant and to get the best returns from your property investment. We don’t believe in high listing costs or hidden charges, which is why we only ever charge a fixed price of £19.95 for each property listing. We will list your property with the UK’s leading rental portals, ensuring your property receives maximum exposure - affordable, transparent and professional. That’s the Griffin Lettings difference.
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