The Lowdown for Landlords
Currently, the landlord spending cap is £3,500 (inclusive of VAT) to bring a property up to an ‘E’ standard. Clearly, to bring a property further up the scale will require more investment. Government have still not decided what the cap might be, but they are looking at £10,000 inclusive of VAT being required to meet this standard, with studies showing that £4,700 on average, inclusive of VAT, will be needed to achieve a ‘C’.
Grants are available. See here
The truth is that all this is still a work in progress, so the conditions attached to grants cannot be commented upon at this time. However, the government’s ‘fabric first’ agenda likely means that grants may not be available for non-fabric items if an EPC recommendation recommends wall insulation. It is in this case particularly that landlords will be in need of the professional help that AML can provide.
Importantly, the software regime that EPCs are produced under mean that there some measures will not even appear in the recommendations. It is these, more affordable, measures that AML Energy can point you to, saving landlords potentially thousands of pounds.
Government love to talk about the carrot and stick. The carrot is the grant, that may or may not be available. The stick is that from 2025, failure to meet the EPC ‘D’ standard will mean a swingeing fine of £5,000.
Other things Landlords should know
An EPC should be in place for any rental property, or at least commissioned if a sale is preferred. There are two pitfalls of not having an EPC when required. The first is quite minor – a £200 fine from the local council. The second is more serious. The production of an EPC is an essential element of a rental contract because it is a requirement in law. Tenants who subsequently fail to pay rent are able to put forward a case that non-production of the EPC invalidated the contract – leaving you up the creek without a paddle!
The major High Street chains typically charge £80 – £120 for an EPC. AML Energy’s base price is £50.
Good stuff to take your EPC up a notch!