6th February 2020
Over the last 18 months we have been auditing the Energy Performance Certificates for the properties that we manage for our landlord clients. We were aware that this legislation required all properties to be scoring at least an E on the EPC by 1st April 2020 so we wanted to get a head start to ensure that all of our landlords were prepared and protected.
I’m happy to say that we only had a small handful of properties that needed some improvement work to be done in order to bring up their energy efficiency score. These works were tackled last year so that we knew everything would be resolved well before the 1st April 2020 deadline.
The majority of the works needed have only been minor issues which has meant landlords have not had to spend too much money in order to ensure that they comply. Low energy lighting and additional insulation were the best ways of ensuring we could improve the EPC score without too much cost for the landlord.
There were a couple of properties that required more expensive works such as new gas central heating systems. A landlord client of ours in Headingley chose to install a new central heating system into his flat to replace the old electric storage heaters. The job has been successfully completed by our maintenance team this week at a cost of £3000. The rental value of the property has now increased by £50-£75pcm following this improvement work, making the landlord a 30% return on his investment. When the numbers work like this then you can argue that improvement work really is a no brainer for any landlord! The positive news keeps on coming as a more energy efficient property will attract higher calibre tenants who will look to rent long term, saving the landlord money on re-letting fees and void periods further down the line.
Proactive management rather than reactive panic is the best way to keep making the most from a rental property.
Any landlords needing advice on EPCs or any of the changing legislation in lettings are welcome to pop Angie a call/email.
Direct Dial: 0113 239 9750