NEW EPC REGULATIONS IMMINENT- LANDLORDS ARE YOU READY?
From 1st April 2018 landlords will no longer be able to let a property with an EPC rating of an E or below. This also applies to renewal tenancies too.
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.
Remember- if your property does fall below an E rating and you have performed recent improvements to your property such as a new boiler, insulation or windows then your EPC may simply need re-doing to get it within the required rating.
Laura Fiddes-Baron, Lettings Manager for Oulsnam Lettings commented:
“We have had quite a few landlords who have bought their properties within the last 10 years and have had upgrade work completed but not had a new EPC done. They have been shocked to find out their EPC rating is so low, not realising that another certificate needs to be carried out to reflect these changes.
I think the new regulations will be a positive thing for the industry and hopefully increase the amount of good quality rental housing stock available”
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.
Of the many ways a property EPC rating can be improve, here are some of the most cost-efficient options to choose from:
Insulation: Fitting loft insulation to a depth of at least 270mm and ensuring that all cavity walls are insulated can dramatically improve a properties 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 to become more affordable, making this one of the simplest and most effective way 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 varied. Improvement to the EPC rating is key but new boilers invariably appeal to prospective tenants due to the reduced running costs associated with new boilers.
Draught-proof doors and windows: Reducing draft from windows and doors with the fitting of draught excluders, curtains and if necessary fillers can also be a cost-effective measure for improving 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 us to discuss your requirements on 0121 445 7410 or email firstname.lastname@example.org