If you are a landlord, you have probably heard the news that a Minimum Energy Efficiency Standard (MEES) will be introduced in April 2018. This means landlords will be liable to pay a fine of £4000 if their property is rated lower than a E for energy performance.
As Energy Performance certificates are valid for 10 years, it is worth thinking about getting one before next year. This will give you time to implement any changes recommended by your EPC assessor to improve your rating.
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 it’s going to cost them loads to heat. This is worth noting if you might want to sell one day. A property with an EPC rating of B is worth on average 5% more than a D-rated property.
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.
Give us a call to get a cheap EPC quote!