RLA secures £1.5million energy funding pot for members
RLA secures £1.5million energy funding pot for members – Click here for full article
The RLA has secured a £1.5m funding pot from energy company E.ON to install energy efficiency improvements in members’ properties – the only funding dedicated exclusively to work on Private Rented Sector (PRS) homes.
From April 2018, unless a valid exemption applies, landlords must have an EPC rating of E or above to let homes out to new tenants or renew leases under the new Minimum Energy Efficiency Standards (MEES).
However, many are struggling to fund works in the current climate, with 34% of landlords who rent out an F or G rated property saying they are unable to afford to make the improvements needed to bring it up to an E rating or better.
Now, through this relationship, qualifying landlords can apply to E.ON to carry out a range of energy efficiency improvements to their rental properties and to access finance for other energy efficiency works.
The funding is specifically targeted towards landlords with tenants on benefits whose properties are falling below the required EPC rating. The works are available subject to a property survey and a benefit assessment. Qualifying benefits include:
- Pension Credit – Guarantee Credit
- Child Tax Credit or Working Tax Credit
- Employment and Support Allowance (Income based)
- Income Support
- Universal Credit
RLA landlords can apply for:
- Free cavity wall and loft insulation (subject to terms and conditions)
- Funding towards the cost of E.ON installing external wall insulation for solid wall properties
- Funding towards the cost of E.ON installing a boiler upgrade or replacement, with a range of finance options available to enable members to spread the remaining cost of a new energy efficient gas boiler. ON is a credit broker not a lender.
- Free EPC and CP12 certification following installation of energy efficiency measures
Measures are subject to terms and conditions. For more information see eoninstall.com
According to the English Housing Survey there are 298,000 Private Rented Sector (PRS) properties in EPC bands F and G, with the RLA’s latest figures showing the average amount spent by a landlord to bring a property to a band E or above is £6,781.