The EPC (Energy Performance Certificate) is a mandatory requirement for Landlords of rented property but even though you have to have it is always helpful to know how it benefits you.
Contained within the EPC (Energy Performance Certificate) is a report on the expected energy performance of your building, and it will include recommendations to improve energy efficiency. Landlords and homeowners can also arrange to have a DEC (Display Energy Certificate) which shows what is actually being used.
This gives the investor landlord a visible, quantifiable and mandatory energy performance certificate which is turn provides an accurate comparison of energy efficiency of numerous properties.
Property owners are then able to make an informed decision as to which course of action would provide the best improvement on the EPC/DEC rating within a budget.
Having the current and potential energy saving status of the building in this standard format allows the owner to calculate what savings can be made on energy bills against the costs of the recommended work.
Landlords and their agents can use an efficient EPC report as a marketing tool when letting property to tenants. Tenants will be reassured to know that their bills will be as economic as possible.
Obtaining an EPC will assist prospective owners or occupiers to make an informed decision about potential energy consumption and carbon-dioxide emissions from occupying property.
For those that are concerned about green issues, a better energy rating gives a lower carbon footprint.
Buildings with a high asset rating will be more energy efficient and therefore have lower running costs and emit less CO2 whilst buildings with a low asset rating will be less energy efficient and therefore have higher running costs and emit more CO2.
An EPC may help sell or rent a building if there is a choice of similar buildings available to buy or sell if those buildings have different asset rating.
Having an EPC provides a better understanding of your property’s energy efficiency. The energy rating can help rent out your property. It indicates to a prospective buyer or tenant how energy efficient your premises are. It should also provide information that may help to reduce the running cost of the property. The better the rating, the higher the potential rental income and hence higher value. See our post on how the EPC will benefit tenants.
An EPC is ‘current’ for up to 10 years, and the EPC is specific to the building, not the owner, so can be transferred on change of ownership within the 10 year period. For more information please visit our EPC blog.