How a good EPC rating for landlords offers many benefits.
If you are a landlord, you will probably already know that your property must now meet Minimum Energy Efficiency Standard (MEES) which were introduced in April 2018. Non compliance means landlords are now liable to pay a substantial fine if their property is rated lower than a ‘E’ for energy performance.
As Energy Performance certificates are valid for 10 years, your current one may now be under the minimum standard and if your property becomes vacant and is re-let, it may not be possible to commence the tenancy before undertaking remedial works to bring the property up to a band ‘E’, all of which means you property potentially being empty for a while and losing significant rental income. Therefore it’s worth getting changes made ideally when your current tenant is still in place and then having a new EPC report commissioned to show you are now meeting the latest regulations.
In addition, there are some other benefits of improving your EPC rating that you might not have thought of:
Keep your tenants happy
It can be really frustrating wasting money on heating that quickly escapes, and having a cold home is pretty miserable. Insulating and draught-proofing the building sufficiently is an easy fix. Fewer complaints from tenants means less stress for you, and you can be proud of what you provide!
A good EPC rating will increase your property value
No one wants to buy a house if it’s going to cost them a fortune to heat and run. This is worth noting if you might want to sell one day.
Upgrading your EPC rating can be cheap
You may be able to upgrade the property to an ‘E’ or better with low-cost measures such as draught-proofing and small amounts of insulation.
Tenants will be more likely to pay their rent on time!
Fuel poverty is a big issue in the UK, largely thanks to its inefficient housing stock. Average annual household energy expenditure in the UK is about £1200 per year. F and G-rated properties cost twice as much in bills – on average £2140 (F) and £2670 (G). Tenants will be more likely to be able to pay their rent on time if they are spending less on energy bills.
Why not also request a Landlord Property Energy Audit where we’ll discuss with you our findings, recommendations and answer any questions you may have about making your property more energy efficient.
To book your EPC and Landlord Property Energy Audit please call us on 07851 957628 or email us at david@nnhes.co.uk