With legislation making it unlawful to rent out any property that is only rated F or G on an EPC certificate, this has left many landlords with the dilemma of what to do with their inefficient properties. Some have suggested that the best cause of action is to sell these properties now rather than risk incurring extra expenses to ensure they comply.
However, not only is this an environmentally irresponsible approach, it is also bad business. Why sell an inefficient property now that will have less demand due to the higher running costs, and ultimately fewer potential buyers?
Furthermore, as we are seeing the light at the end of the tunnel in terms of the recession, selling now could mean that the landlord misses out on future potential growth.
It is much better to hold onto the property, assess what works are required to improve the performance of the building, and the most efficient method of achieving this. If planned effectively, any works can be scheduled across a period of time enabling the incoming rent to pay for the work.
These works will result in the property having higher rental demand, with increased rental income and a higher property value, which should only increase as the property market improves.
David Hulme, Director at energy savings experts Renewables 4 Business, discusses how landlords can improve the energy performance of their properties.
David commented: “It is now very easy to improve the energy performance of properties whether they are commercial or residential. There has been much advancement in methods to improve energy efficiency. It is now easier and cheaper than ever before, from simple solutions such as low energy lighting and voltage optimisation or Solar PV cells.”
David added: “Renewable heating sources such as Biomass Boilers, Heat Pumps and Solar Thermal systems are also a great way to improve the rating and qualify for Renewable Heat Incentive payments. Measures such as these can easily be installed in almost every property, and can have a dramatic effect on the energy performance.
You can contact David at Renewables 4 Business on 01925 764586.