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Big Red Thoughts

It’s Green for Go for Landlords!


green_deal_logo_360The Green Deal is a Government initiative intended to fund energy saving improvements in the household and potentially save hundreds of pounds on gas and electricity bills for occupiers each year.

As long as the repayments are less money than the total of the energy bills, the scheme will fund any energy-saving upgrades in the home, these may include: double glazing, draught proofing, loft insulation, solar panels and underfloor heating, to name but a few. With the costs being added to the electricity bill over a 25 year period, this makes it a much more viable way of improving your rental property.

After recent conflicts between the Green Deal scheme and the Consumer Credit Act were addressed, the Green Deal finance is once again available to landlords. It is important to note that by April 2018, landlords with poor Energy Performance Certificates rating (F or G) will be forced to make their properties more energy efficient, by bringing their rating up to an E. These improvements can be funded under Green Deal – so it is important to act now!

It is crucial that as a landlord you get permission from your tenant before joining the Green Deal Scheme. Especially where the tenant is the electricity bill payer, as they will be the ones making the repayments. Similarly, they will need to seek your agreement to the improvements to the property and the financial aspects of the plan, as the repayments will affect future tenants. A tenant can not force their landlord to join the Green Deal scheme, however from April 2016, landlords will not be able to refuse reasonable improvement requests from tenants.

To find out if your property is eligible for the Green Deal, you will first need to arrange an appointment for an assessor to visit your property and this appointment may be chargeable to you. The assessor will check your energy bills and usage and figure out the best places you could be saving energy and money. Your assessor must be a member of the Green Deal scheme; you can find your local assessors using the online search here – http://gdorb.decc.gov.uk/consumersearch

If you have joined the Green Deal Scheme it is your responsibility as a landlord, to make sure new tenants are aware that your property is under the Green Deal scheme. You will need to provide the tenant with a copy of the Energy Performance Certificate (EPC) showcasing the improvements that have been made under the Green Deal, the repayment amounts, the length of the Green Deal and the name of the Green Deal Provider. Your tenant will need to acknowledge the Green Deal and the repayments by including standard prescribed wording.

If you would like any further information or advice then please contact our team on 0800 612 7977 or email info@mybigredhouse.co.uk

Article by Carly Truemen of Big Red House www.mybigredhouse.co.uk

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About Big Red House

Welcome to Big Red House, the company that provides a perfect balance of the convenience of dealing online and the security of receiving a personal service. Big Red House is the regions first fixed fee estate agent, offering our clients a true one stop shop for all their property needs. We are not a traditional high street agent nor are we just another online agent, instead we are a blend of the two delivering a high quality service via our personal agent concept and the use of our unique web based approach. Our pricing structure has realigned the value in the estate agency practice and allows our customers the opportunity to sell or let their property at a considerably lower fee than the traditional high street agent, without compromising on service. As well as offering our clients a great alternative for selling their property, we are also considered to be one of the area's most capable letting agents. Big Red House is considered to be a new breed of letting agent, designed from scratch to offer everything you need to make the most of your investment. From an online hub to keep track of everything, to 24/7 tenant support, it's everything you need. Our systems and processes have been designed to treat your property like the financial asset that it is, by working with us you will maximise your profit and protect your investment. It’s time to take a more modern look at property management. It’s time to take a look at Big Red House. Big Red House - Your local E-state & Letting Agency

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