Research has claimed that just over half of private landlords are seriously considering taking up the Green Deal initiative. According to the NLA (National Landlords Association) their latest Landlord Panel survey shows that 63% of landlords say they are aware of the Green Deal and 56% are considering taking advantage of it.
Under the Green Deal which is due to start on October 1st, private landlords will be able to get an upfront amount to make energy-saving improvements to their properties such as installing insulation or a brand new boiler. The loan for the improvements will be repaid through utility bills by the tenants. All privately rented properties with an F or G rated Energy Performance Certificate will be banned from the market after 2018 and if landlords do not act they will be eventually left with a property that cannot be legally let in six years time, even if it is protected with landlord insurance.
David Salusbury, chairman of the NLA, said “Whilst our research shows that many landlords are keen to take advantage of the Green Deal, a third of landlords are not yet aware of the initiative. We encourage landlords to become familiar with the Green Deal as the private-rented sector has a key role to play in ensuring Britain meets its energy targets. Furthermore, it is imperative that landlords future-proof their properties and their investments.”
The Green Deal is a private landlord’s opportunity to improve the quality of their properties and it also demonstrates their ability to work with the Government on initiatives which will make life better for tenants throughout the United Kingdom. However the RLA (Residential Landlords Association) are unhappy that tenants must repay a loan given to the landlord under the Green Deal scheme. They believe that some tenants will resent this, and will also not be very happy that they will have to pay higher utility bills until the loan is paid off. The RLA is asking the coalition to change the scheme so that it is the landlord who repays the Green Deal loans themselves.