Ahead of new EPC laws, Brits still unaware of their impact

Good morning,

I thought you would be interested to hear about some new research that has found that a staggering number of landlords and tenants are not aware of their own homes EPC ratings. With the new EPC legislation, that come into law at the start of April, this could result in a large number of fines being handed out.

If you would like further comment or have any questions, please do not hesitate to get in contact.
I’m more than happy to send the research over if you’d like to take a closer look.

I’d be really interested to hear your thoughts.

All the best,

Tom

Ahead of new EPC laws, Brits still unaware of their impact

• 73% of landlords/tenants are not aware of their property’s EPC rating
• 65% aren’t aware that improving their rating could save them money
• 95% have not measured their EPC rating

New research has emerged revealing a number of staggering misconceptions around how Energy Performance Certificate (EPC) ratings can impact a property’s environmental footprint and save a landlord or tenant money.

The poll, commissioned by insurance agency Just Landlords, was conducted strictly with those involved in the UK private rental market, and found that 48% of those asked did not know that upgrading their insulation would improve their EPC rating. Of those surveyed, less than two thirds, 58%, knew that the condition of windows had an effect on a property’s EPC rating, and 80% didn’t know an EPC rating could be an indication of how environmentally friendly a house is. 30% did not even know that an upgraded boiler would improve their rating.

New standards for EPC ratings come into effect on 1st April for all new lets and relets, and for all existing tenancies on 1st April 2020. Once the new law is in effect, residential rental properties must have an EPC of E or above. Properties awarded the two lowest grades, F and G, will be unlawful. From the beginning of April, any landlord letting a property that fails to meet the standard required could face a penalty of up to £4,000.

Rose Jinks, on behalf of Just Landlords, said: “It’s not only essential that landlords understand all new legislation in order to avoid hefty fines, but also that their properties are safe and comfortable for their tenants. This law is designed to improve the energy efficiency of rental properties, which could vastly reduce bills for tenants.

“In addition, landlords will be pleased to know that an energy efficient property will be more appealing to prospective tenants when it comes to marketing the property, so it’s a win-win. Now is the time to start looking at the changes your property needs to comply with the new rules.”

ENDS

For any additional comment to accompany this release please contact Tom on tom@kincomms.com or call +44(0)207 7179696

Regional stat breakdowns are available.

For information please see https://www.justlandlords.co.uk/news/ --

Just Landlords are one of the UK’s leading independent providers of landlord insurance and having been providing expert advice and services since the 1990s.