Corporate and VAT-registered landlords can now claim £350 towards the cost of installing electric vehicle charging points at their rental properties.
‘With installation typically costing around £500 for an average property, the cash sum is a significant contribution towards the total cost’, said the National Residential Landlords Association, which pointed members towards the grant. ‘With a huge increase in the number of electric cars on the road, a charging point could potentially be a significant draw for potential tenants’, it said.
Grants will be available for each parking space provided with a charging socket, with up to 200 grants available per year per landlord.
For landlords owning apartment blocks, additional funding will be available later in the year to help equip entire carparks with charging points.
The scheme will run for two years, and landlords can choose from any approved supplier listed on the government website. Landlords installing charging points may also be able to claim 100 per cent of the installation cost as a capital allowance and some of the expenditure may also qualify for a new ‘super deduction’, equalling 130 per cent of the total cost.
‘We have been in talks with Government over the provision of charging points for electric vehicles in rented homes for some time’, said NRLA policy director Chris Norris. ‘Today’s funding announcement comes as a welcome support for landlords, to help them futureproof their properties’.