Three-quarters of landlords and tenants don’t know the EPC rating of their property
Ahead of new changes to Energy Performance Certificate (EPC) rules on rental properties, many Brits are still unaware of their EPC rating, or how the rules are changing, according to Just Landlords.
The insurance agency conducted a poll among landlords and tenants, which found that 73% are not aware of their property’s EPC rating, and two-thirds (65%) don’t know that improving their rating could save them money.
The poll, which was conducted with those involved in the UK private rental market, 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.
A significant 30% did not 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 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.”