THE GREEN HOMES GRANT SCHEME
In October 2020, we covered the introduction of the Green Homes Grant Scheme.
At that time, the scheme was set to run until the end of March 2021. However, the government has now announced plans to extend the scheme until 31 March 2022.
Under the initiative to make homes more energy-efficient, landlords can claim two-thirds of the cost of work done to improve their property’s energy efficiency, up to a maximum of £5000.
This is an ideal opportunity for landlords to upgrade properties and improve the rating on Energy Performance Certificates (EPC).
IMPROVE YOUR PROPERTIES’ INSULATION
As part of the Green Homes Grant, you can upgrade the insulation on your properties and the government will pay towards it.
If your property doesn’t have cavity wall insulation, this is your chance to get it done at a discount. If cavity wall insulation isn’t an option, you can still improve your internal loft insulation or flat roof insulation.
Improved insulation will make tenants happy as they’ll make significant savings on energy bills.
REPLACE BOILERS OVER 15 YEARS OLD
If a property’s boiler is more than 15 years old, you should upgrade to a more energy-efficient boiler.
The Green Homes Grant covers the installation of new biomass boilers and low carbon heating measures, including the following:
• Air source heat pump
• Ground source heat pump
• Solar thermal (liquid filled flat plate or evacuated tube collector)
• Biomass boiler
• Hybrid heat pump
FIT SOLAR PANELS
Solar panels generate electricity as long as they have enough light. However, they’re most efficient if they’re positioned on a south-facing roof or a roof that gets plenty of sunlight between 10am and 4pm.
You don’t need planning permission to install solar panels on your roof as the work falls under permitted developments. However, there are exceptions to this, including houses with flat rooms or properties in conservation areas.
CUT BACK ON WATER USAGE
Simple ways to cut back on water usage include fixing any dripping taps and replacing old pipework.
One of the most significant ways to reduce the water used in a property is to install a new shower with a reduced flow. A reduced flow showerhead has a flow rate of half that of a conventional shower. It produces water at less than 2.5 gallons per minute. If you calculate that on a yearly basis, a daily five-minute shower could equate to around 4,500 gallons of water saved.
CHANGE OLD LIGHT FITTINGS
Halogen bulbs were phased out in 2018, and most of us have now switched to LED lights. Most LED bulbs are compatible with almost all fittings.
But if you do have some old fittings, it’s a simple matter for an electrician to change them.
WOULD YOU LIKE TO LEARN MORE ABOUT PROPERTY INVESTMENT?
WE’VE LAUNCHED TWO ONLINE PROPERTY INVESTMENT COURSES:
PROPERTY INVESTING MASTERCLASS – AN INTRODUCTION TO PROPERTY INVESTING
This course will provide you with an introduction to property investment, whether you’re new, intermediate or experienced.
HOUSE OF MULTIPLE OCCUPANCY MASTERCLASS – LIVE RECORDING
This will give you a better understanding of one of the most popular and financially rewarding property strategies in the UK.
Plus, we’re delighted to introduce PMA Property Mentor Elite Online & Personal to motivate, inspire and challenge you to achieve your personal and business goals.
All of our mentors are experienced industry professionals with years of experience AND are all active investors.
Email firstname.lastname@example.org or phone 01252 730040 to be the first to take advantage of this brand new online mentoring service.
You can also use my calendar to schedule a call at https://go.oncehub.com/MarkLloyd and book a 30-minute slot.