New Year, new legislation for landlords
Posted on 05/10/2008
The New Year is set to bring with it new responsibilities for Clear Lets landlords, with the introduction of the Energy Performance Certificate (EPC) legislation directed at private rental properties.
As of 4 January 2009, all private landlords will be required to provide at the start of any new tenancy an EPC, which will rate a rental property on its energy efficiency in a similar way to electrical goods. The EPC must be displayed in the rental property and prospective tenants will also be able to request a copy of the EPC.
The new legislation will bring Scotland's private rental property market into line with the European Union's EU's Energy Performance of Buildings Directive (EPBD). Buildings use almost half of the total energy consumed in the UK, according to Government sources.
More choice for Clear Lets tenants
Given the ever-increasing cost of fuel, it is highly likely that properties awarded the highest ‘A' rating will be more attractive to cost-conscious Clear Lets tenants wishing to save money now and in the future than the lowest ‘G' rated dwellings.
The EPC will also provide properties with an environmental impact rating based on carbon dioxide (CO2) emissions, which may be important to tenants actively wishing to reduce their carbon footprint.
Make sure that you're prepared well in advance of the deadline for certification. Clear Lets can provide advice and assistance on how to find a suitable accredited energy surveyor to produce certification for your property. Clear Lets can also help you to implement any recommendations made by the surveyor to reduce your property's energy consumption.
Allowance for making improvements
Eliminating draughts and improving insulation are relatively easy and cost-effective ways to reduce the amount of energy required to heat a property. What's more, Clear Lets landlords in Scotland are able to apply for the Landlord's Energy Saving Allowance (LESA) to help meet the cost of such alterations.
Available since 2004 (until 2015), LESA allows all private landlords who make certain energy-reducing alterations to their rental properties to claim a £1,500 tax allowance per property via their tax return.
Other energy-saving quick fixes Clear Lets landlords can make include: switching to low energy lighting, investing in double glazing and/or adding thermostatic valves to radiators.
A more energy efficient property could potentially mean a more inviting and profitable property, so it's well worth taking some basic steps now to improve your rating, particularly if you can do so at little or no cost to yourself.
And remember, if you make further energy-reducing improvements down the line, have your energy surveyor re-examine your rating. An EPC lasts 10 years but can be updated at any time to reflect your improved energy efficiency.