The 1st August 2007 saw the introduction of the Energy Performance Certificate and its legal requirement for those wishing to sell their home in England & Wales. This law also applied to all rental properties from 1st October 2008. The idea was largely criticised and actually blamed by many for the decline is the housing market during the following 24 months - but it now remains an integral part of selling and renting your property.
10 Years on and it’s pretty much status quo with regard to those wishing to sell their home but things are about to change for Landlords and what is expected of them.
Much has been documented about tenant rights with many having been and will continue to campaign for fairer conditions, so where do EPCs come in to this?
Soon regulations will stipulate that all qualifying properties must have a valid EPC with a rating no worse than E in order for it to be legally occupied by a tenant. The regulations will come into force for new lets and renewals of tenancies with effect from 1st April 2018 and for all existing tenancies on 1st April 2020. Given that the majority of long term lets may have had their original EPC conducted 1st October 2008 a new improved rating could soon be due.
The new law on EPCs will be another step forward for tenants but could cause Landlords a headache or two, particularly where older style properties are concerned. Improving the rating may be achieved by activities such as adding loft insulation, changing the boiler, draught proofing or replacing lighting, amongst others. Alternatively, an existing EPC may have already highlighted recommendations to improve the rating.
Landlords – it’s time to act now and we can help!
Here at Proactive Property we can offer advice on all aspects of letting with a good quality personal management service at a fee that may surprise you. Details of our packages can be found here or why not give us a call on 01902 440055.