Energy efficiency: new consultation
The government recently launched a consultation on how best to improve the energy efficiency of Private Rented Sector (PRS) properties in England and Wales. This is part of their plan to upgrade as many privately rented homes as possible to an EPC rating of ‘C’ within the next 10 years.
As has been the case for previous legislation for making energy efficiency improvements, the consultation proposes that landlords will only be required to carry out works where they’re practical, cost-effective and affordable.
Bringing more properties up to a ‘C’ rating is intended to:
- Make homes more comfortable for tenants and reduce energy bills
- Help protect and possibly improve the capital value of properties for landlords
- Contribute to the UK’s efforts to reach a net zero carbon emission position.
If you’re thinking of buying and/or renovating a buy to let in the near future, we’d suggest you aim for at least a ‘C’ energy efficiency rating:
- It’ll make the property more attractive to tenants right away
- It’ll save you having to instruct more potentially disruptive works in the future
- If tenants are saving money on utility bills, it means they have more to spend on rent!
And if you already know you’ll need to install additional insulation or double glazing to improve your property’s rating, it’s worth getting some quotes now, as you might be able to get a better price than if you wait until it becomes law.
You can read the full consultation and respond online via the GOV.UK website.