As a landlord, you will have a list of responsibilities that ensure your property is up to scratch and suitable for your tenants. This will also come with a hefty price tag, but, luckily for you, there are grants out there to help with footing the bill.
In this blog, we’ll be taking a look at all the grants available for UK landlords, plus how you can utilise them effectively.
ECO Grants
Landlord or not, the rising cost of energy bills is on everyone’s mind. When it comes to helping with energy upgrades to a property, which helps your tenants save money on their bills too and create a more sustainable home, ECO grants are the way to go.
Most of the grants are made available as part of the government’s Energy Company Obligation (ECO) scheme, also known as ECO4, which makes it mandatory for energy companies to reduce carbon emissions and tackle fuel poverty.
The ECO grant scheme was launched in 2013 and will run through until 2026.
Air source heat pump grants
Not part of the ECO scheme, the Government’s Renewable Heat Incentive (RHI) can grant aid in the installation of an air source heat pump (ASHP) in your rental property.
Boiler Upgrade Scheme
For landlords in England and Wales, this scheme can aid you in upgrading a property’s fossil fuel heating system with a more environmentally friendly option.
For sustainable heating systems, like biomass boilers or heat pumps (depending on the source), you can get up to £7,500 in assistance.
Landlords who have had their new system installed (replacing a less sustainable system) after April 1 2022 are eligible for this scheme.
Wall insulation grants
Grants for cavity wall insulation are available for properties with cavity walls where the main heating source is electric. In some cases, properties heated by gas boilers may also qualify. If your rental home was built after the 1920s, it will probably have cavity walls.
Internal wall insulation grants are available for properties with solid walls – primarily in homes built before 1920. To be eligible, the home needs to be heated by electricity.
Loft and roof insulation grants
Loft and roof insulation grants are available in rental properties where the existing main heating source is electric and where there is 100mm or less of existing loft insulation or roof insulation.
Use the form on the Government Grants website to find out if you qualify for a home improvement grant for wall, loft or roof insulation.
HMO conversion grant
A HMO (house in multiple occupation) property is a building or part of a building occupied by multiple family members, and you can receive a grant of up to £30,000 to bring the property up to the minimum HMO standards.
Empty property grant
If the property you own remains unoccupied for over 12 months, you can make it available to council-nominated tenants, which would then make it eligible for an empty property grant.
This will typically cover around half of the costs to renovate your property, even if it is currently in disrepair or needs converting into a multi-household.
Are there any local authority home improvement grants available?
Local authorities can offer different types of help with home improvements. Each authority will have its own rules about the help it offers and the criteria you must meet to qualify for help.
All local authorities provide Disabled Facilities Grants (DFG). These can help pay for the cost of essential work to help people with disabilities live an independent life.
Improvements can include:
- installing ramps for access
- stairlifts
- widening doors
- providing suitable kitchen or bathroom equipment
The grant you get depends on your income and savings unless the work is to meet the needs of a person with disabilities who is under 16, or, in some cases, over 16 but under 19.
Who can apply for a grant?
Landlords, homeowners and tenants can all apply for these home improvement grants. In privately rented homes, the grant needs to be applied for in the tenant’s name and both the tenant and landlord must consent to the work being carried out.
You can visit the Energy Saving Genie website to find out if you are eligible for a home improvement grant to upgrade your heating or insulation.
How can Adrian Flux help landlords?
Adrian Flux is a specialist landlord insurance broker that can tailor your insurance to yours and your tenants’ needs. We can help you save with our legal expenses insurance too.
The best deals, including for DSS landlord insurance, are usually available over the phone, so, call 0800 369 8590 for a quick and easy quote or book a callback at a time that suits you.