Residential landlords would be well advised to take the 10-year anniversary of the introduction of Energy Performance Certificates or EPCs as a spur to get their properties properly reassessed, says Lisa Simons at Carter Jonas.
A new EPC could make the difference between 10 years of worry-free letting and a whole lot of stress.
Intended to last for a decade and required before homes could be sold or let, EPCs have taken on more significance since they became a guiding factor in whether or not a home could be let. Originally part of the Home Information Pack (HIP), the EPC survived when the HIP requirement was abandoned in 2010.
The more recent Minimum Energy Efficiency Standards (MEES) mean that from April, 2018, it will be difficult, but not impossible, to let a property with an Energy Efficiency Standard on its EPC below Band E. Exemptions can be registered but are subject to re-application every five years, with no certainty that this regime will continue.
“With that in mind, it could be beneficial to review the EPC for your property even if you are not yet required to replace the original purchased 10 years ago,” believes Lisa Simon, Head of Residential Lettings at Carter Jonas. “Some landlords still rely on the EPC existing from when they purchased the property, and therefore provided by the vendor rather than themselves.
“Particularly where a property is Band F or G, but also for those with a low score in Band E, having a new EPC assessment could make all the difference between 10 years of worry-free letting and the stress of not knowing whether or not an exemption granted in time for April, 2018, will be renewable in 2023.”