Ahead of new regulations, 73% of landlords and tenants are not aware of their property’s EPC rating

 epc

 

  • 73% of landlords/tenants are not aware of their property’s EPC rating
  • 65% aren’t aware that improving their rating could save them money
  • 95% have not measured their EPC rating

New research has emerged revealing a number of staggering misconceptions around how Energy Performance Certificate (EPC) ratings can impact a property’s environmental footprint and save a landlord or tenant money.

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The poll, commissioned by insurance agency Just Landlords, was conducted strictly with those involved in the UK private rental market, and found that 48% of those asked did not know that upgrading their insulation would improve their EPC rating.  Of those surveyed, less than two thirds, 58%, knew that the condition of windows had an effect on a property’s EPC rating, and 80% didn’t know an EPC rating could be an indication of how environmentally friendly a house is. 30% did not even know that an upgraded boiler would improve their rating.

New standards for EPC ratings come into effect on 1st April for all new lets and relets, and for all existing tenancies on 1st April 2020. Once the new law is in effect, residential rental properties must have an EPC of E or above. Properties awarded the two lowest grades, F and G, will be unlawful. From the beginning of April, any landlord letting a property that fails to meet the standard required could face a penalty of up to £4,000.

Rose Jinks, on behalf of Just Landlords, said: “It’s not only essential that landlords understand all new legislation in order to avoid hefty fines, but also that their properties are safe and comfortable for their tenants. This law is designed to improve the energy efficiency of rental properties, which could vastly reduce bills for tenants.

“In addition, landlords will be pleased to know that an energy efficient property will be more appealing to prospective tenants when it comes to marketing the property, so it’s a win-win. Now is the time to start looking at the changes your property needs to comply with the new rules.”

Written by Julie Hanson

Julie is passionate about property – development, investment and portfolio planning. Along with husband Alec, Julie is actively building a property portfolio while helping others to do the same.

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