With energy efficiency such a hot topic in the property and development market, it seems only right that landlords, like homeowners and developers, are already being prepped for regulatory changes and shifts in what they legally need to provide to keep their tenants safe and their properties as efficient as possible.
The change in EPC rating regulations is one of the most prominent changes which will come into force in 2025 – and while this may feel like a fair way off, it’s important to note what it means sooner rather than later so that you can be prepared for the changes on the horizon. So, we asked our letting agents in East London for a little insight into the changes and what they mean for landlords.
What is the EPC rating and how it is changing?
The EPC rating is something which frequent visitors to property sites will be familiar with. It refers to the Energy Performance Certificate, which essentially rates the energy efficiency of a home based on everything from heat loss through windows and doors to how efficient the boiler and heating system are, and how effective insulation is throughout the property.
Since its conception in 2007, the EPC rating system has run from A to G, however the changes in place will see all landlords needing to meet a minimum specification of a C rating for their property to be legally let or rented out.
Alongside the changes in what is required in terms of energy efficiency and rating, landlords who fail to comply will also be liable for a hike in fines, from £5,000 to up to £30,000.
How do landlords know what their EPC rating is?
The EPC rating is something that should be an integral part of your property’s documentation and should form part of the contract between yourselves and your tenants. Typically, the EPC rating is reviewed every ten years by a surveyor, as it not only lets you know how efficient the home is but also helps to provide some indication of how expensive a property will be to heat, and how environmentally friendly it is.
The 2025 EPC regulatory changes are a big part of the government’s drive to become more environmentally friendly, with both domestic and commercial properties needing to fall in line with this change in legal ratings by 2025. And that’s why so much notice has been given – because if your property currently ranks below a C some work needs to be done to improve its efficiency.
How to improve the EPC rating of a property
A few ways that landlords can work to improve the EPC rating of a property include replacing all old and traditional windows with double glazed alternatives, fitting new doors, and ensuring that the roof and any loft space are properly insulated. Getting a boiler test is also a good step towards understanding the efficiency of a home’s heating system and making the necessary upgrades.
To discuss how the EPC regulatory changes might affect your business as a landlord, Halls Property Group are here to help.
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