New EPC rules set To upset the PRS as well as me!Make Text Bigger
From April 2018, landlords of privately rented domestic and non-domestic property in England or Wales must ensure that their properties reach at least an Energy Performance Certificate (EPC) rating of E before granting a new tenancy to new or existing tenants.
Now as a Landlord I had not taken too much notice of this looming legislation. My properties are well maintained and in good order I told myself. Imagine my surprise when my diligent agent contacted me and explained that shortly I could no longer rent out one of my properties, a flat, because of my EPC F rating.
Now since I bought this property I have had it fully double glazed and added loft insulation all at my own cost. The rest of the flat was heated through modern electric wall heaters and a modern gas fire. I thought these changes would be enough to raise the EPC to an acceptable rating. Imagine my surprise when I received another F rating with a new EPC.
Only installation of a new central heating system and possibly wall insulation would bring my flat to an acceptable rating I was told. That equates to a six thousand pound heating installation bill, however I could do nothing about insulating the walls as my well maintained 200 year old non listed building were solid.
Among the options available to me include signing benefit tenants to take advantage of government initiated ECO deals in order to cut down installation costs, something I really hadn’t wanted to revisit after a series of expensive repairs, or to sell the property outright and withdraw it completely from the rental market.
I wonder how many Landlords up and down the land are facing a similar dilemma and if this piece of legislation will result in a substantial increase of properties withdrawn from the rental market.
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