Mandatory EPC Roll-Out to Cause Landlord Headache
With major policy changes related to mandatory EPC certificates due to be rolled out in 2018, are landlords are due to feel the wrath of the need to be energy efficient?
For landlords that disagree with or lack Energy Performance Certificates, it would appear so.
The Minimum Energy Performance Standard Policy
Set to be rolled out from 2018 onwards, the policy will be aimed at improving energy efficiency across commercial estates, which generally have been left untouched in the past by energy efficiency measuring instruments, as EPCs have largely been focussed new builds and projects.
Although the details are not yet finalised, the policy would see buildings with a low energy efficiency rating, or Energy Performance Certificate lower than F, requiring urgent attention, therefore ensuring that a growing number of properties have a much higher energy efficiency rating.
The Rise of EPCs
Launched in 2009, Energy Performance Certificates have become a popular tool for estate agents to demonstrate the property’s energy consumption. For landlords however, these have proved to more of a hindrance than a help, with many home owners suggesting that they are inaccurate and misunderstood, making cost forecasting a harder task than EPC were designed to make it.
It can’t be denied that energy efficiency is becoming an important factor for property hunters to decipher their next location. Whether landlords like it or not, there is becoming an increasingly desperate requirement in order to lure in property hunters.