Green Upgrade Relief To Help Landlords
British Gas is calling for a Green Upgrade Relief which would allow landlords to deduct green improvements from their annual income as well as government-kitemarked zero or low interest loans to help them make improvements.
The energy supplier also wants an amendment to the Renters (Reform) Bill so landlords cannot reasonably refuse smart meter installation.
They also wants to start the data-gathering process to implement Building Passports for individual properties as well as an amendment to the Renters (Reform) Bill so landlords cannot reasonably refuse smart meter installation.
IMPROVEMENTS TO PROPERTY
Research from British Gas published today reveals eight out of 10 (81%) landlords believe they need to make further improvements to their property to make it more environmently friendly but only one in five (23%) say they would actually make them.
One of the main barriers for landlords upgrading their properties, the report says, comes from a lack of knowledge around EPC Standards.
Less than half (44%) of respondents didn’t know their EPC rating – despite the requirement for the EPC rating to be E or higher having been in place since 1 April 2020.
Meanwhile two thirds of landlords either don’t know or have overestimated the average cost of bringing a property up to EPC C standard, which had previously been a target for rental homes before Prime Minister Rishi Sunak changed Net Zero policies in September 2023.
LACK OF KNOWLEDGE
The cost of bringing a property up to this standard is estimated to be £7,430. There is also a lack of knowledge about the Green Upgrade Relief grants available with over half (52%) of those surveyed stating that they do not know enough about their options.
Gail Parker, Director of Low Carbon Homes at British Gas, says: “We are calling for more focus to be made on the issue to help make homes more energy efficient for everybody, not just people who own their own properties.
“It’s critical we find the right solutions for each home so that we can lower emissions and help customers to make savings on their bills.
“The recent update to the government grant for heat pumps rising from £5000 to £7500 in England, has made it more accessible for people to upgrade homes.”