EPC Improvements For Manchester Landlords
If you are a landlord, you know all about the importance of the Energy Performance Certificate, the EPC, and its impact on your ability to let property.
As things stand, rental property must hold an EPC of E or higher to be let to tenants. This might change in the near future. At Brentwood Lettings, we are here to assist landlords manage their rental property as best we can, and this includes meeting the ever-changing challenges of energy-efficiency.
Changes are planned for EPCs
The Government is believed to be looking for as many homes as possible to hold a C rating by 2035, across England and Wales. However, for private rented homes, it is likely the Government will push for this status by 2030. Some sources even indicate that the Government will push for new tenancies to require a C rating by 2025.
This places landlords under pressure, especially when you consider many households are not expected to reach a level of C or greater.
A recent Rightmove study looked at 15 million homes across England and Wales, and found:
59% of properties hold a D, E, F or G rating
The potential to reduce this percentage to 11% if recommended improvements are followed
Up to 11 million homes in England and Wales don’t have an EPC rating
It is believed that close to 1.7 million homes across England and Wales are unable to reach the C level.
There are affordable changes to upgrade your rental accommodation
Rightmove have also provided a number of ways for landlords to boost their EPC rating, and some of these options are affordable.
Install solar panels – While this is the most commonly recommended step, it is expensive, and will run into thousands of pounds
Switching to low energy lighting – This is also a highly recommended option, but is far more affordable, the average cost is less than £40
Insulating the hot water cylinder is a sensible option, and can be arranged at around £20
Draught-proofing single glaze windows costs around £100
Adding or improving loft insulation is sensible, and the average cost is £223
Upgrading your heating control is sensible, but more expensive, with an average cost of £400
Rightmove’s director of property data Tim Bannister says: “It’s encouraging to see that there are some energy efficiency improvements that can cost less than £100, so it’s definitely worth checking your EPC if your home has one to see if there are small changes you could make to try and improve your rating. The bigger challenge is for those homes with much lower ratings that will cost a substantial amount of money to improve. There are a number of homeowners who don’t feel an urgent need to make changes now unless it makes a big difference to the cost of their household bills or if it’s going to make their home more attractive to a potential buyer if they’re planning to sell.”
Tim concluded by saying; “It’s early days with some lenders now starting to introduce green mortgages as incentives, but homeowners need to be better informed that how green your home is will become increasingly important as we aim to move towards a net zero society, and they need more help to understand why making improvements are so important for the long term.”
Brentwood Lettings can call on more than 19 years’ worth of experience in the Moston and surrounding areas letting sector. We are a non-franchise and independent lettings and property management agency in Manchester, and we are here to serve you. To arrange an appointment, a rental property valuation or to discuss your options, give us a call on 0161 681 3724.