Financial Assistance
If you are interested in acting on some of the improvements suggested for
your property you, and your tenants, may qualify for financial assistance for
the installation of certain energy efficiency measures.
Insulation
All homes that are privately rented are eligible for grants to help with the cost of installing loft insulation and cavity wall insulation (providing that the property is suitable) and if someone living at the property is over 70 or receives certain benefits or allowances then it is likely that you would qualify for a full grant.
These grants must be applied for by the tenants (not the landlord) with the landlord granting permission for the works. The grant received could cover anything from 30% to 100% of the cost of professionally-installed insulation. You can check whether your property is suitable by arranging a completely free and no obligation survey through an installer or energy company. Visit www.est.org.uk or call the Energy Saving Trust on 0800 512 012 to find out more.
Landlord’s Energy Saving Allowance
The Landlord’s Energy Saving Allowance (LESA) was introduced to encourage landlords to improve the energy efficiency of let residential properties. It is an allowance for the cost of purchasing and installing certain energy saving items and allows landlords to claim up to £1,500 per property per year on their income tax return for the following measures:
- Loft insulation
- Cavity wall insulation
- Floor insulation
- Solid wall insulation
- Draught proofing
- Hot water tank insulation
For more information visit the HMRC’s website http://www.hmrc.gov.uk/manuals/pimmanual/PIM2072.htm
Further information is also available at
www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome