Over the next five years, landlords across the UK will have to invest in their rental properties to ensure they meet new energy-efficiency requirements. Those who fail to bring their Energy Performance Certificate (EPC) rating to C or above could face heavy fines after the 2028 deadline.
Although upgrading a property will inevitably cost money, it can pay off in terms of value as buyers and renters become increasingly budget and eco-conscious. It’s also likely that the new rules will cap spending to reduce the financial strain.
However, some landlords are choosing to ‘wait and see’ what to prioritise based on whether the government announces its focus is lowering bills or reducing emissions. For example, replacing an old boiler may be enough if bills matter most, whereas investing in a heat pump could prove more effective in terms of carbon output.
Although relying on gas-based options rather than electric may still be your best bet for increasing your EPC because they’re cheaper to run, landlords won’t be allowed to swap out gas boilers etc. from 2035, so a heat pump may prove a better long-term option.
Meanwhile, The Energy Savings Trust recommends improving your property’s insulation as a first step. Some energy providers will loan thermal cameras to help landlords identify problem areas, but loft insulation is often cited as a key area for improvement.
To discuss more ways to increase the value of your rental, talk to our team on 01452 612020 today.