If you are currently renovating a property with the intention of renting it out it is not always top on the list of considerations to include Electric Vehicle (EV) charging facilities. This is an additional cost to the budget and it is not clear how this will affect the final rental valuation. However, this next bit of news may make property investors think again. Owners of some rental properties, and their lettings agents, can now apply for grants to contribute towards the cost of installing Electric Vehicle chargers.
Applicants must be registered at Companies House so the scheme only applies to incorporated landlords or their agents, as well as right to manage companies, companies owning the freehold of a leased or rented property, social housing providers and public bodies and charities.
The grant amount given is per chargepoint socket installed. To access the grant, the landlord must first register and be approved. The grant provides up to 75 per cent of the cost towards the purchase and installation of a socket, limited to £350 per grant.
Further information can be obtained from the government website here
