EPC CHANGES FOR 2018
If you are renting a property out you should be already be aware of the EPC (Energy Performance Certificate). Up until recently there has simply only been the need to have an EPC visible on a property to let it out and the tenant must be supplied with a copy on the move in date. However, as of 1st April 2018 there will need to be a minimum energy rating needed to rent out a property in the private sector. As of this date, new lets and tenancy renewals must have a minimum energy performance rating of E. This will come into force for all existing tenancies on 1st April 2020.
Any Landlords who do not comply with this new rule should not rent out their property however if they do still proceed to tenant it with a rating below E the property would be deemed to be substandard and not fit to rent. Trading Standards could be able to impose a fine of up to £4,000. Due to this, we are encouraging our landlord’s to check their EPC readings now and get any works need doing asap so there is not a mad rush nearer to this date. I am sure contractors will be very busy close to 1st April 2018. Some properties may only need a few little things doing to improve the reading while others may need substantial works.
There are various different methods that can improve the EPC readings. Firstly, the cheapest things to do are getting a smart metre for the property as accurate usage of energy used can help. Low energy lighting and light bulbs can also benefit this. It can be as simple as changing a light bulb. Have adjustable thermostats fitted on radiators to make sure you are not heating empty rooms unnecessarily. Most of a building’s heat is lost through poor sealing of doors, windows and through poor insulation in both the roof and walls. There are government backed incentive schemes to help reduce the cost. Renewing or adding if not already present, new window and door seals can eliminate drafts. Insulation in attics should always be installed or if already present, renewed and thickened. Whilst it can be quite a big job having cavity wall insulation put in, it will significantly improve the EPC reading. Getting a new smaller more modern boiler can reduce energy bills as they are now made to run a lot more efficiently.
When the assessor goes to the property to carry out the EPC tell him all about the insulation you have had fitted, smart reader, new low energy light bulbs etc. Ask them to take in to account any changes and improvements made to a building since the last EPC. Don’t be afraid to tell them and show them as it will help with the reading.
Energy efficient properties with a better reading will have greater appeal to purchases and investors and this will show in pricing of properties. Therefore, if your property is on or below E on the energy rating we fully recommend you start making changes sooner rather than later.
If you need any further information regarding EPC’s or anything relating to renting your property out, please do call the office on 0114 2683682, email email@example.com or just pop in to the office at Spencer The Estate Agent 496 Ecclesall Road, Sheffield S11 8PP for a chat.