All landlords must now give new tenants a certificate showing the energy efficiency of their rented property. Lettings must be assessed and given an Energy Performance Certificate (EPC) detailing efficiency on a scale from A to G. The rating, similar to that on home appliances, is intended to allow potential tenants to consider energy efficiency and fuel costs prior to renting.
A £200 repeatable fine can be levied per property on landlords who do not comply. The new scheme comes into effect from 1 October and will check insulation, double-glazing and the performance of the boiler and appliances.
The EPC and a recommendation report must be made available when:
- Written information about the building is provided in response to a request for information from the prospective tenant
- When a viewing is conducted
- If neither of those occur, before the landlord enters into a contract to let their property.
- The landlord believes the prospective tenant is unlikely to have sufficient funds to rent the property
- The landlord does not believe the prospective tenant is genuinely interested in renting that type of property
- The landlord is unlikely to be prepared to rent out the property to the prospective or tenant.
Benefits to both parties
Recent research indicates that the majority of landlords intend to wait until their existing tenants leave before acting, but this could lead to unexpected voids, as rental properties cannot be marketed without an EPC. It’s also critical to use an accredited assessor.
There is a silver lining though. An EPC could offer landlords an advantage over competitors with less energy efficient properties, as their homes will have tangible benefits, greener credentials and cheaper fuel bills. Good ratings and low running costs will make your property attractive to credit-crunched tenants.
Contact Oliver Finn accredited energy performance assessor to find out more.
