Richmond landlords could benefit from £2m windfall

Published by Sarah Ashcroft

Landlords in Richmond could be in line for a £2 million boost that will help them to fund substantial improvements to their properties.

The London Landlords' Accreditation Scheme (LLAS) has confirmed there is a £90 million pot that may be used to upgrade rented homes over the next two years, reports the Richmond and Twickenham Times. According to the news source, about £2 million of this money might make its way to the borough in the south-west of the capital.

It is suggested that the funds would come from energy companies, which are keen to oversee improvements to properties.

David Princep, chairman of the LLAS, said: "The government's told the energy companies to create different pots of energy company obligation funding. The first and biggest part of the money is going to homes that are expensive to insulate, especially older properties."

"Victorian homes are very common in London and most of them could potentially benefit from this money."

Other households that stand to gain from the scheme include those with low incomes, with communities that are known to be poorer than others due to be picked out by organisers of the scheme.

In previous years, the LLAS believes money dished out by energy providers has passed London by. Indeed, homes in the north-west have been three times more likely to gain funding than those in the capital, but this is all set to change.

As well as the £2 million that has been earmarked for Richmond, some £1.9 million has been ringfenced for the neighbouring borough of Kingston. As such, it seems parts of the south of the city could be in line for the greatest gains.

If landlords are able to use the money effectively, they could complete a raft of green advances that make their properties more energy-efficient. This puts them in a strong position in the long run, as they can still demand similar rental income, with savings on gas and electricity bills.ADNFCR-1645-ID-801544682-ADNFCR

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Published on: February 21, 2013

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