Press Room
Energy Inefficient Landlords Could Lose Out In Rent
With Energy Performance Certificates (EPCs) to be made available to all new tenants, email4property, the largest network of local estate agent websites, says landlords with the most energy efficient properties could hold an advantage over those with poorly rated properties, which could see a fall in rent and a lack of interested tenants.
From October 1st, it will be mandatory for landlords to make a valid EPC available for all new tenants, highlighting the property’s energy efficiency and its environmental impact, along with providing estimated running costs and recommendations for improving the home’s performance.
For the first time it will provide potential tenants with up-to-date information on the anticipated running costs of the property, before committing to a tenancy agreement - information which will now factor in their decision making process, and could be used as a bargaining tool if the home has received a poor rating.
David Bexon, Managing Director of email4property, comments: “While tenants are unlikely to turn down a property solely because it’s got an F or G rating, in our increasingly cost conscious world, running costs are playing a more important role in the decision making process when looking to buy or rent a home, and a tenant may now request a reduction in rent to reflect a home’s inefficiency."
“Those landlords whose properties rate poorly and who opt to ignore recommended energy saving measures could see themselves missing out on tenants, who opt for a more eco friendly and cost effective property.”
Bexon, adds: “Potential tenants, who have perhaps shortlisted two or three properties are likely to use the home’s energy rating as a factor in their decision making process – if you are comparing two properties, one which has an F or G rating and another, which is a C, the potential fuel savings could be enough to swing it.”
Email4property offers landlords this advice: • Commission your EPC now: an EPC will have a shelf life of 10 years so if you have a high turnover of tenants, don’t wait until the current ones are about to leave – commission your EPC now to save time and hassle further down the line • Use an accredited DEA: ensure you use an accredited Domestic Energy Assessor (DEA) – details can be found at www.epcregister.com • Be prepared: before the DEA arrives make sure you have all the information they will require, ready – date of when the property was built, info on whether the property has been extended or double glazed, whether walls have been insulated etc – a full checklist can be found at www.communities.gov.uk/epbd • Follow the recommendations: take time to review the recommendations in your EPC – if your property has received a relatively poor rating (F or G) then take steps to improve its energy efficiency such as cavity wal
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Article date: 9/11/2008 12:00:00 AM