According to a recent survey, as many as one in three landlords have no idea how energy efficient their properties are, which means they probably do not have an Energy Performance Certificate (EPC) in place for their properties.
Why is an Energy Performance Certificate important?
Apart from the fact a failure to give an Energy Performance Certificate to your tenants could land you with a hefty fine, an Energy Performance Certificate does exactly what it says on the tin: it tells the tenant how energy efficient the property is.
This has two positive effects for landlords—an energy efficient property is easier to let in the first place, and if you already have existing tenants, they are likely to be happier and therefore not planning on moving any time soon. With the cost of gas, electricity, oil, and solid fuel rising all the time, energy efficiency should be an essential consideration of every landlord as an energy efficient property is less likely to have vacant months because tenants have chosen another property that costs less to run.
What happens in the long term if the property is in a lower band?
In the short term, properties with low energy efficiency are less attractive to potential tenants and harder to market, but from 2018, properties that are not energy efficient will actually be banned from the rental market. However, all is not lost as you have plenty of time to get your properties in order and make any necessary improvements to their energy efficiency.
