A valid EPC certification or EPC rating are crucial when you’re a landlord. It has a huge impact on the value of your home worth, the amount it will cost to maintain and how well-known it will be when you rent it to tenants.
As the law and the government guidelines evolving over the last year, all current and prospective landlords must be aware of the latest regulations in place, and any possible exemptions. Being aware of the current procedures and requirements for your property can mean that you avoid fines and still earn a profit for your property, domestic as well as commercial. Learn more about how to obtain an energy performance certification explained.
What is An EPC Rating?
Every single property in the UK that is commercial or domestic, gets an EPC rating that stands for energy performance rating. This rating will tell you the energy efficient the house is, how effectively it is able to conserve energy and heat energy and how costly the running of the property could be.
In the UK They are performed by EPC assessors, who take a variety of aspects into account and give you an rating. A is the highest rating, it is the most efficient and the cheapest as well, while an EPC rating G or F is not the most effective.
New Laws and EPCs Landlords Should Be aware of
In April 2020, there will be changes concerning EPCs and what landlords are allowed to and shouldn’t do to rent their properties. At the time of writing landlords are not legally permitted to rent out houses with the energy rating that is F or which would be the best rating that is allowed. The law, which will take effect in 2023 restriction will be extended to commercial properties, too.
How to Increase Your EPC Rating
There are many ways to alter the property in order to increase the quality of your EPC Grading. These changes will allow the building to reduce energy and perform more efficiently:
- Insulate your loft, a variety of different materials work great at insulate heat
- Install a new boiler some older boilers aren’t as efficient as modern models.
- Install double-glazed windows, an excellent solution to cut down on noise pollution while keeping the warmth inside.
Exemptions for Improving Your Rating
In certain situations landlords are exempt from, or at least temporarily, from modifying their property and enhancing energy efficiency. An EPC assessor may identify the following exemptions:
If the landlord has taken the correct measures to improve the energy efficient rating and the cost has been reduced to £3,500, including VAT, and the property still rated as E, you could apply for an exemption. The cap could make you not be able to make any changes in the next five years. After that, the property requires a new upgrade.
It is not possible to damage historic buildings and change their appearance particularly listed structures.
The work cannot reduce the worth of your home by more than 5%.
If mortgage lenders do not accept the changes, they must approve them.
What is a good EPC Rating?
The the closer your rating is closer to A the more efficient and efficient your home is. For instance, from January through March in 2020, a staggering 82% of all new properties constructed in this time frame were given an energy efficiency rating of B or A that shows the challenges older properties are currently competing with.
The estimated cost of Improvements
It all depends on the current rating as well as the age of your home and a host of other aspects. If your property is graded E for instance, this means that you will need to invest more money into it in order to raise its EPC rating and bring it back to scratch. If your home has an unsatisfactory score the price is set at $3,500. After 5 years you’ll have to invest it once more and make the necessary changes.
However these kinds of upgrades can be much less expensive. For instance, the cost of insulating your house in UK can cost anything from £400 to £800 and to install double-glazing, prices could be anywhere between £150 up to £600.
Although these upgrades may seem expensive initially however, keep in mind that they’ll help your home be more affordable to maintain and boost the value of your property should you decide to sell it in the near future.
The cost of living room renovations will depend on EPC rating
Tenants Rights in relation to EPC Certificates
If you own property or have tenants currently in your rental It is important to know that tenants are entitled to undertake energy improvements to their home. It is important to note that landlords aren’t required to cover these costs unless they wish to contribute.
In April 2016 tenants are legally entitled to request their landlords examine ways to improve their energy performance rating of their house. However, the cost will be the tenant’s responsibility but the landlord is able to deny the request if it is considered to be unreasonable.
The landlord may have to increase their energy effectiveness rating of their property
Becoming ahead of the game means you will be able to maximize your assets and the properties you are in while making changes and improvements you make. Enhancing the quality of your EPC rating and upgrading your EPC certificate could be simpler than you think, and it’s worthwhile to put your time and energy into finding the best changes you can do.
If you require expert advice or to get commercial or residential energy performance certificates find an assessor near you.