Landlords are at risk of heavy fines if they fail to comply with the rules on Energy Performance Certificate (EPC) ratings.
Lettings agents in Plymouth have warned the city’s landlords to take note of new regulations which are due to come in April 2025. Failure to do so could lead to increased penalties of up to £30,000.
Under the proposed rules, newly-rented properties in England and Wales will be required to have a minimum EPC rating of C. All existing tenancies will have until 2028 to comply.
This is likely to affect a huge number of rental properties in Plymouth, especially in older buildings and converted flats.
If you’re worried and would like some advice, click here to find out how we can help.
What is an Energy Performance Certificate?
An Energy Performance Certificate (EPC) is a legally-required report drawn up by an accredited domestic energy assessor.
Lang Town & Country is proud to have a dedicated in-house EPC assessor in Hugo Oliveira, who is also a specialist domestic energy assessor, legionella risk assessor and inventory clerk
Hugo will visit your home to check how much energy it takes to power your property and keep it warm. This includes identifying potential sources of draughts, or seeing if any heat is escaping.
The assessment will check how well insulated your walls and floors, if you have double glazing, and how much heat is retained in your home.
He will also check electrical systems, and take into consideration if you are using energy-efficient light bulbs. Find out more about our services.
Click here to find your property’s EPC rating.
How can I improve my property’s EPC rating?
In short, get in touch with our Lang Town & Country Lettings team and we’ll be happy to give you recommendations about how to improve your property’s energy efficiency.
Hugo says: “We all know that the cost-of-living is increasing, meaning that it is becoming increasingly important to save on your energy bills.
“Tenants are now thinking of any and every way possible to become energy efficient and, as a consequence, landlords are faced with the need to ensure their rental properties are energy efficient.
“The Energy Performance Certificate (EPC) changes due to come into force in 2025 for new tenancies and 2028 for existing tenancies, mean that landlords will need to ensure their rental properties have an EPC rating of C or above.
“The looming deadline means landlords need to start doing something about it now. An awful lot of work may well need to be done if a landlord wants to be able to legally let out a property.
“The fine for failing to meet this new criteria is also increasing from £5,000 to £30,000 from 2025. Our advice is that not only should landlords have an up-to-date EPC for their rental properties, they should also be made aware of any necessary improvements now so that in three years’ time, their property can remain in the rental market.”
Meet Hugo and find out more about what we can offer here.
New research on EPC ratings for UK properties
A recent study by Shawbrook Bank found that more than 70% of UK landlords own properties with an EPC rating of D or lower.
The research also found that a quarter of landlords’ portfolios contain properties that all meet the C rating, while 38% only have properties that are rated D or below. And 79% of landlords with an active mortgage have at least one property rated D or below.
This research follows new figures from the Office of National Statistics (ONS) which revealed that, as of March 2022, the median EPC rating for private rental homes in England and Wales fell within band D.
Emma Cox, MD of real estate at Shawbrook, commented: “It’s likely that efficiency standards will become tougher in the future, which is just one of the reasons that landlords should take note of these proposals and start making a plan.
“During such a challenging period for the UK in general, we remain committed to bringing together all industry stakeholders to develop the conversation around EPCs, and to make real progress towards our shared goals.”
If you are renting out a property in Plymouth, or are thinking of becoming a landlord, please give Hugo and the team a call on 01752 201010 and we will be more than happy to discuss your property’s EPC and any recommended improvements you may be able to make as a landlord. Click here to find out more and book an appointment.
