Landlords face £500 million EPC bill

20-07-2008

Landlords face £500 million EPC bill
The National Landlords Association (NLA) has warned its members they are likely to face stiff financial penalties if they fail to adhere to new energy performance certificate (EPC) legislation.

Total bills could top some £500 million if landlords fail to provide all tenants with an EPC, following the compulsory introduction on October 1st.

It is feared the burden could be particularly hard for those unwilling landlords, forced to let their properties as average prices fall.

With the introduction of EPCs for the private-rented sector, details of the energy efficiency and environmental impact of a rental property will need to be made available to prospective tenants at the earliest opportunity.

Although climate change may not always be a landlord’s first thought, an energy efficient property with lower fuel bills will be more attractive to cash-strapped renters, argues the NLA.

"Many landlords across the country are already investing in energy saving measures in response to a growing market demand for environmentally-friendly properties," said NLA chairman, David Salusbury.

"Although it’s certainly true that we would have preferred the market to have led this movement towards more energy efficient homes, the NLA, as always, is seeking to make it as easy as possible for landlords to comply with the new rules."

An EPC is currently valid for ten years and can be reused as many times as required within that period.

Landlords do not have to commission a new EPC each time a new tenancy starts but they are required to give a copy of the latest EPC to new tenants.

Furthermore, while landlords are not obliged to make any of the changes suggested on the EPC, measures that could be taken to improve the property’s energy efficiency and environmental impact rating are highlighted.

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