The ECO Funding scheme brings about huge home improvement possibilities for all UK householders, including Commercial property owners, landlords and their tenants.
Due to increased pressure on the UK Government to improve the energy ratings of UK homes and properties, the Government’s energy saving initiative will aid the property sector manage upcoming changes to legislation in 2016 and 2018.
From 2018 the Energy Bill will ensure that the legal minimum energy efficiency standard for homes rented from a landlord will be an “E” class. From 2016 tenants will be able to demand reasonable energy efficiency improvements from their landlords. If these requests are refused local authorities will be able to compel landlords to undertake the improvements. They will also be able to fine landlords for not undertaking the improvements when first requested by the tenant.
Energy Company Obligation (ECO) is a government led scheme launched alongside the Green Deal that offers free grants towards a broad range of energy saving measures. Primarily ECO Funding combats fuel poverty and upgrading hard to treat properties and the energy companies are footing the bill. The installation costs of critical home improvements such as insulation and heating are free for eligible householders who qualify due to living conditions and personal circumstances.
It is hoped that by 2018, when the full effect of the Energy Bill comes into effect, landlords will be in a better position with regards to the ratings of their properties owned. From 2018 Landlords will not be allowed to let out any property with an Energy Performance Certificate banding lower than ‘E’ unless the landlord can prove they have done all they can through the Green Deal and other subsidies to bring the property up to an EPC Band ‘E’.
For many landlords this is a fantastic opportunity to increase the values and rental income of their properties, as well reducing energy bills that will provide tenants with warmer properties in which to live that are cheaper to heat.
For more information on ECO Funding and to learn more about the wider network of installers and the Provider framework, please complete our online enquiry form to your right.