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The proposed plan would compel landlords to meet the standards for new tenancies by 2025, and existing ones by 2028, but the proposals have not yet been turned into legislation - and the government has been criticised for that.
Given that tenants pay for utilities, landlords have little incentive to make the upgrades. However, as a responsible landlord, you can do the right thing by installing energy-saving equipment as soon as possible and undertaking other energy saving tips. Our landlord accountants dive deeper into this.
What are the EPC requirements for landlords?
According to the proposed legislation, all UK buildings must have an EPC rating of at least C by 2025. This can be difficult, especially for older buildings, so setting the process in motion as soon as possible is vital.
3. Emphasis on advisory services
With things like tax filing or bookkeeping being largely outsourced to technology, your accounting team can offer more valuable strategic advice to the client. Personalised guidance on expanding and growing as a business, regardless of technology, will require a human with on-ground experience to offer insights based on market trends and historical data.
1. Smart metre
Installing a smart metre can help tenants manage their energy usage more efficiently by providing real-time information about energy consumption and costs.
2. LED light bulbs
LED bulbs are known to be more energy efficient than traditional incandescent bulbs and can last up to 25 times longer.
3. Energy-efficient doors
These are typically made with materials that have high insulation properties, such as composite materials or uPVC. Replacing old doors with them can help conserve energy.
4. Insulation approaches
5. Double-glazed windows
Double-glazed windows can effectively decrease heat loss because they are crafted with two glass panes separated by a gap that serves as an insulating layer.
6. Heating system upgrades
Upgrading to an energy-efficient boiler can help reduce the amount of energy required to heat the property, which can lower energy bills for tenants. Other upgrades include installing a new thermostat or smart heating controls to manage heating more efficiently.
7. Solar panels or heat pumps as renewable energy sources
Incorporating renewable energy sources like solar panels or heat pumps into a property’s infrastructure can generate sustainable energy and decrease dependency on grid electricity, reducing energy bills for occupants and a lower carbon footprint for the property.
Exemptions to improvements
Certain properties can be exempt from the efficient energy requirements on the grounds of structural issues, affordability or mortgage lender consent refusal. If your property meets any exemption criteria, you must register it on the PRS Exemptions Register, which lasts five years.
How to help your tenants save on their energy bills
Regardless of who is paying the energy bills, reducing them will be good for everyone. If your tenants are struggling to pay their bills, there are resources you can redirect them to, such as Simple Energy Advice in England. In addition, all households in the UK should get a discount of £400 on their energy bills over winter 2022 to 2023, with extra support for lower-income households and pensioners.
