Property investors with an interest in landlord insurance policies are being warned that the Irish Government will prevent them from renting their properties out unless they improve the energy efficiency of their homes.
In a move something similar to the “green deal” initiative launched by the Westminster government in the UK, its close neighbours across the Irish Sea are determined that landlords benefiting from the rental boom there, don’t forget to look after their tenants.
Energy Minister Pat Rabbitte unveiled the “Affordable Energy Strategy” bill yesterday and vowed to improve the lot of 1 in 5 residents who are in “energy poverty”. The Minister said the past policy of handing out cash to pay for fuel should be altered to handing out cash to efficiently energise homes and said that landlords had their part to play in the scheme.
Local councils, energy suppliers and community groups as well as landlords will be involved in projects to identify homes in need of upgrading and it is thought the Government will preclude homes with an energy rating of E, F and G from being rented out.
Recognising the inefficiency of social welfare fuel payments the minister went on to say: “To be perfectly honest, with some of the money you may as well be throwing it into the furnace because it’s going up the chimney. The Department of Energy plan to work with energy suppliers, community groups and local authorities to identify areas at risk of energy poverty. Households will be offered benefit entitlement assessments and advice on energy-efficiency measures. Economies of scale can be achieved through group home upgrade schemes being adopted.”
The minister had harsh words for some landlords and went on to say: “Some landlords care little for energy standards because they’re not the ones paying the heating bills.”