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Check The Energy Efficiency Of Your Property
Energy Performance Certificates (EPCs) are a key document whether buying or selling a property. Showing all of the property’s energy use, typical energy costs and recommendations on how you can improve the energy efficiency of the property and potentially save money.
The EPC rates a property’s energy efficiency from A (most efficient) to G (least efficient) and is valid for a period of 10 years. Older properties tend to have lower ratings than newer builds and the average EPC rating in the UK is currently D.
As a landlord, you are required by law to ensure that the property has a minimum rating of E for your tenants.
Where To Find Your EPC
If you don’t have the EPC for your property or to check the property you are looking at, you can retrieve it using the Government’s online EPC register using the property’s postcode:
EPC Rules That You Need To Know
Having an EPC is now a legal requirement for every property whether it is residential or buy to let and it should be handed over free of charge by the previous owner.
For you as a landlord, it is also now illegal to continue to let any property to existing tenants or accept new tenants if the property’s EPC has a rating of F or G.
If you fail to do this, you could be fined up to £5k per property – so it is important to know the EPC rating for any property before purchasing.
There are a few cases where the need for an EPC is exempt. These include:
- Holiday lets rented out for less than 4 months in a year.
- Certain listed buildings – if they meet a minimum standard.
- Residential buildings accommodated for less than 4 months in a year.
- Temporary buildings.
Benefits Of An EPC
As well as being required by law, there are lots of benefits to obtaining the EPC for your investment:
- Having a good EPC rating can be attractive to potential renters.
- Having a good EPC could increase rental yield.
- Knowing the EPC rating can help identify properties that will need less maintenance going forward.
- The report will include suggested energy costs for the property to help with budgeting.
- An EPC can help identify ways to reduce ongoing costs further, for example, the report might identify that the property would benefit from improved insulation, double glazing, low-energy lighting or even solar panels.
If your EPC is about to expire or you need a new one, they typically cost up to £120 and you will need to source an approved EPC assessor to carry out the inspection.
Still Got Questions? Get The Answers You Need
Speak To A Property Expert
If you would like to know more about EPC ratings or what you need to know as a buy to let landlord, you can speak to one of our mortgage advisers by calling us on 08009499410 or let us know how to contact you below, we will respond as soon as possible.