EPCs stress the system & landlords

A Paragon Mortgage survey reflects the experience of many letting agents. The £200 fine per day for marketing a property without an EPC has come as a shock to many landlords.

54% of landlords in the Paragon survey said that they would wait until they next relet their property before bothering to arrange an EPC. Some landlords have had to delay renting property save face risking a fine.

There is now a backlog as energy assessors struggle to keep up with the rush demand for EPCs on rented property.  Energy Performance Certificates for residential rented property are only required every 10 years.

Stephen Ludlow of LONDON’S LETTING AGENT, ludlowthompson comments: “Landlords are relieved to find that EPCs are valid for ten years.  It’s not compulsory for landlords to follow energy guidelines, but we urge landlords to ensure that they are making the most of tax breaks to fund energy improvements.

With the cost of living rising, tenants may now scrutinize properties EPC’s, so some landlords may wish to consider improvements that reduce energy costs for tenants such as a new boiler or roof insulation. The Landlords Energy Saving Allowance (LESA7) is administered by HM Revenue.  It allows private landlords who pay income tax to offset up to £1,500 spending on certain energy efficiency measures per dwelling per year which includes loft, cavity, floor or solid wall insulation, draught proofing and hot water system insulation. The scheme has been extended to 2015.'

ludlowthompson have taken the hassle out of arranging an EPC by arranging certificates for landlords at the competitive price of £75+VAT. Contact your local lettings Office for more information – see below links.