Tuesday, 29 January 2013

Cost of Government Green Measures for Private Landlords Revealed

Landlords are being urged to consider what works may be required to improve their property’s EPC ratings sooner rather than later to stay ahead of planned regulation.
Research provided by the BPF and Energy Saving Trust has shown that the cost of improving a typical F-rated property to an E rating – which is likely to be the minimum standard for private rentals from 2018 – ranges from just £100 up to £660.
However, improving the property to the highest possible EPC rating could cost almost £20,000.
With December’s census revealing home ownership had fallen for the first time since records began and the number renting from a landlord doubling to 3.6 million homes, improving energy efficiency in the private rented sector will be key in helping to meet the government’s climate change obligations.
With this in mind, the British Property Federation and the Energy Saving Trust today published a free guide explaining how landlords can plan and fund improvements to help ensure their investment will be lettable from 2018.
British Property Federation senior policy officer Thomas Younespour said: “The importance of a property’s EPC rating is likely to increase in the coming years.
“Not only have the rules been tightened over the provision and display of EPCs to prospective tenants and buyers, but regulations are planned for April 2018 to ban the letting of property with the poorest ratings – likely to mean F and G-rated property.
“The details of such regulation are yet to be set out, but nonetheless indicate clear intent. It is often during void periods that improvement works can best be undertaken and therefore landlords are advised to consider sooner rather than later the energy efficiency of their properties and prepare a forward plan for works.”
The British Property Federation's guide on Energy Efficiency can be found here:  Energy Efficiency Guide