Landlords – are your properties EPC ready?
As a landlord you are constantly challenged with new legislation and ever-changing obligations, and the impending EPC regulations are no exception.
With current regulation set to change in April 2018, landlords are being encouraged to check the EPC (Energy Performance Certificate) of their properties and to take remedial action to improve properties with a current rating of F or G.
The changes due to come into effect will mean that it will be illegal to let any property on the private rental market with an energy rating of less than E (unless the property is registered with an exemption), and with one in six properties currently estimated to fall below the required standard, landlords are being urged to take action now or face huge problems next year.
The new law could see civil penalties of up to £5,000 being imposed for breaches, with local authorities also serving compliance notices to ensure properties are brought up to standard.
Some properties can improve their EPC rating with inexpensive or grant-funded works, others may require substantial investment to bring them in line with the changes, but planning now could save time and money next year.
Of the many ways a property EPC rating can be improved, here are some of the most cost-efficient options from which to choose:
Insulation: Fitting loft insulation to a depth of at least 270mm and ensuring that all cavity walls are insulated can dramatically improve a property's EPC rating. There are a number or grants available so it is worth looking into whether your property qualifies.
Low energy lighting: Energy efficient lighting has improved dramatically over recent years and the cost of replacement bulbs has decreased making this one of the simplest and most effective ways to improve the overall EPC rating of a property.
Replacing an old boiler: While the upfront cost of replacing an old boiler is high the benefits can be great. Improvement to the EPC rating is key but new boilers invariably appeal to prospective tenants due to the reduced running costs associated with them.
Draught-proof doors and windows: Reducing draughts from windows and doors with the fitting of draught-excluders, curtains, and if necessary, fillers can also be a cost-effective measure for improving an EPC rating.
Double-glazing: Replacing any single-glazed windows with double-glazing will ensure your property appeals to the broader rental market and also make the property more energy efficient as heat loss will be reduced.
If you would like some help organising quotes and upgrade work to your property then please contact Samantha to discuss your requirements on 0121 445 7410 or email email@example.com