Energy performance certificates have been around for a
number of years now; most sellers and landlords will be aware of their
existence. They are however probably not aware of their importance. Granted, up
until recently they weren't very important; but that is set to change.
When Brussels imposed the EPC legislation on the UK (again
the debate of UK's EU membership lights up, but that’s for another day) it was
seen by the estate agency as red tape. "Buyers buy because they love the
house, its local transport links, visual appeal and suitability to their requirements,
not because they are spending less on their energy bill" was the argument
from many an agent, me included. In London even more so, with flats being the
home of choice for professional sharers and the bulk of properties in London
being terraced houses, flats or perhaps even the odd semi-detached house the
saving in energy consumption could have meant less than a £30 per month
difference between A and F rated properties. Perhaps more so now (energy prices
have risen and inflation has devalued our currency since EPC introduction in
2008), but the consensus was that there was very little attention paid to the
energy bill when making a purchasing decision.
This is all set to change from 2016 with the introduction of
legislation making it compulsory for landlords to make improvements at tenants'
requests in order to make the home more energy efficient; and by 1 April 2018 ALL
landlords must upgrade the energy efficiency of the rental properties which are
rated F and lower to a minimum of E by April 2018 or they will not be allowed
to let until such time improvements are made.
So with this in mind, is your portfolio ready for the government’s
continued eco agenda?
Source: The Guardian Online.
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