LATEST: Official Boiler Upgrade Scheme launches today – but is it enough?

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The government’s Boiler Upgrade Scheme launches today amid fears that landlords will need longer-term funding to help them meet energy efficiency targets.

Grants to encourage property owners in England and Wales to install low carbon heating systems such as heat pumps are now on offer, allowing landlords to claim £5,000 towards the cost of an air source heat pump, £6,000 for a ground source heat pump, or £5,000 for a biomass boiler if the house is in a rural location and not connected to the gas grid.

An installer will apply for the grant on their behalf and the value is then taken off the price paid.

Landlords can still apply under the three-year scheme if they have received separate funding for energy efficiency upgrades such as insulation, doors or windows.

Anyone applying must have a valid Energy Performance Certificate, typically issued in the last 10 years.

However, Propertymark believes a national retrofitting programme backed up by longer-term funding is what’s needed now.

Timothy Douglas (pictured), head of policy and campaigns, says pockets of funding are starting to emerge, but that they are just a “drop in the ocean”.

“The property sector needs a national retrofitting programme that’s linked to realistic and achievable targets and dedicated, long-term grants that take into account the age, condition, and size of properties,” adds Douglas.

“Unless landlords and homeowners are given sustained financial incentives, it is unlikely any real progress will be made in helping them to cut carbon emissions and reduce energy bills.”

The government has proposed that new rental properties will require an EPC rating of C or above by 2025, followed by all tenancies from 2028. Along with the new grants, it also introduced a 0% VAT rate on selected energy efficiency materials in the recent Budget.

Find out more about how to apply.

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – LATEST: Official Boiler Upgrade Scheme launches today – but is it enough? | LandlordZONE.

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‘Do proper checks on guaranteed rent firms before you sign up’ landlords warned

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An established guaranteed rent provider has advised landlords to carry out a credit check and due diligence on companies in the sector before signing up – just as they would a prospective tenant – to protect themselves from potential problems. 

Wendy Clarke (main picture), boss of Harlow-based The Rent Guarantee Company (TRGC), acknowledges that while her firm offers a risk-free solution to landlords, the sector is largely unregulated.

“We are aware of a company offering guaranteed rent on a promise, when a simple Companies House search shows they only made £6,000,” she tells LandlordZONE.

“That’s less than six months’ rent for just one landlord. When they fail, it gives the whole guaranteed rent market a bad name.”

She believes that knowledge of the minimum standards, processes and systems, along with a good level of business knowledge, is not something that can be learnt from a weekend property training course.

“These are people who have entrusted their investment, often their pension or income top-up vehicle, so you need to have ethics and a sense of responsibility and consider how what we do benefits everyone,” explains Wendy.

TRGC is guaranteed by the government contracts it has negotiated, and always leaves 12 months’ rent in its business account so it has the ability to serve the correct notice to landlords and run to the end of term.

Temporary accommodation

Wendy is proud of its track record; operating since 2014 when she first used her own properties along with some from family and friends, it now covers Essex, Hertfordshire and Golders Green, supplying the temporary accommodation market by housing tenants waiting for a council house.

The average contract is three years; if a landlord needs their property back, they just give two months’ notice.

TRGC caters for portfolio landlords, those who have had nightmare tenants causing eviction headaches or regular late payments, and the landlords who own properties that aren’t in a condition to let, where it offers complete house and garden clearance, and full refurbishments.

Adds Wendy: “At the last house we took on, we removed two tonnes of rubbish and had it available again within three days so the landlord only had a weekend with no income.”

©1999 – Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® – ‘Do proper checks on guaranteed rent firms before you sign up’ landlords warned | LandlordZONE.

View Full Article: ‘Do proper checks on guaranteed rent firms before you sign up’ landlords warned

Letting to a company who won’t vacate?

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Hi, We own an apartment which has been rented to a Portuguese company for four years, with no problems. The company’s business is in arranging accommodation for its clients.

However, the lease period expired on 25th March 2022

View Full Article: Letting to a company who won’t vacate?

Get Out While You Can

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Over the last week, an influx of Property118 landlords rushed to contact the team at Landlord Sales Agency – a company known for being experts in property portfolio exit strategies. The question wasn’t so much whether now was the time to sell our portfolios

View Full Article: Get Out While You Can