As energy prices rise and people make a conscious effort to be more sustainable, house hunters are looking for a new home with energy-saving amenities. For landlords, a good EPC rating is a huge selling point to prospective tenants and a legal requirement.
Currently, properties require an EPC rating of ‘E’ or above to be legally let, but by 2025, properties will require a rating of ‘C’ or above. This regulation is set to apply to new tenancies first, followed by all tenancies three years later.
An Energy Performance Certificate is valid for ten years and is then only necessary to renew if you have new tenants or are selling the property. While the new EPC requirement will be introduced in three years’ time, making changes to rental properties should start now, and a new survey carried out.
The way a building is insulated, heated, and ventilated can affect the value as well as the cost of running the property.
By evaluating the current state of your property and making impactful energy-efficient improvements, the better the reward for making changes, especially given the tenant demand for better energy features.
In an article by Property Industry Eye, 66% of respondents in a poll said they would choose a property with eco-friendly features over one without. Notably, over half of these more eco-conscious respondents are younger, between 25 and 34 years. This audience is also more likely to be still on the rental market, so it is important to capture this audience for future
So, if your property is currently below a ‘C’ rating, what can you do to achieve a better EPC and attract tenants? Here are some improvements to consider:
- Examine and invest in better insulation – Insulation will help to keep the warmth in and make a real difference to your energy bills. Loft insulation is easy to install and reasonably priced, and wall insulation can help with your EPC rating too. There are also insulation grants you might qualify for to aid with costs.
- Install a smart meter – See how much energy you’re using, down to the pennies. This will allow you and your tenants to make decisions about where and how you could reduce your energy usage.
- Invest in double glazing – if you don’t already have double glazing, consider upgrading your doors and windows. Not only can this improve energy performance, but double glazing can also reduce noise, which will attract tenants if your property is in a noisy area.
- Check the lighting in your property – switching to energy-efficient bulbs to help reduce energy consumption and costs. The two main types of energy-saving light bulbs are LEDs and CFLs.
- Purchase energy-efficient appliances – If you supply appliances to tenants, consider investing in them to make long term savings in the future.
- Replace your boiler – If your boiler is old and far from economical, improve your EPC by replacing it with a new energy-efficient boiler.
- Solar panels – This is a good way to produce cheaper and greener energy for your property. Your energy bills will reduce with solar panels, and you could save between £85 and £220 per year.
- Secondary heating source – If you already have a functioning open fireplace, or looking to install one in your property, consider installing a wood-burning stove instead. Not only will this still happily heat your home, but it will have greater fuel efficiency compared to open fires, and help to reduce costs over time, especially during the winter periods.
About Jones Robinson Estate Agents
As leading, local letting agents in Newbury, Didcot, Lambourn & Hungerford, Marlborough and Devizes and the surrounding areas, we have vast experience in lettings and property management.
At Jones Robinson, we recognise that each property and landlord is unique and that landlords rent out properties for a variety of reasons.
By offering a personalised service w can tailor the letting and timeline to both landlord and tenant requirements as we don’t believe the “one size fits all” approach, works in this industry.
We are also very transparent with clear and easy to understand information available to both landlords and tenants alike.
Contact us today to find out how we can help you sell your home this year.