Landlords are prepared for energy certificates launch

Sep 24 2008 by Tony McDonough, Liverpool Daily Post

NEW research indicates that many landlords will be prepared for the introduction of Energy Performance Certificates (EPCs) when they come into force on October 1.

In the Daily Post earlier this week, Richard Globe, of the Merseyside-based Property Landlord Support Help Desk, urged property owners to make sure they had their EPCs in place in time to avoid possible heavy fines.

He fears many landlords across Merseyside have not acted soon enough to make sure they have valid certificates in place. The certificates, costing £75, show the energy efficiency of buildings over 50 sq m.

However, research published this week by Paragon Mortgages reveals that the majority of landlords have made improvements to a residential investment property since purchase to help improve its energy efficiency.

The study reveals that more than half (56%) of landlords have installed a new boiler into a rental property since purchase, while 62% have installed double glazing.

A third have laid insulation to prevent heat escaping from the roof of a property – one of the most effective measures in improving a property’s energy performance.

Paragon does warn that, despite the high number of landlords installing energy- efficient measures, only 12% are aware of the Landlord Energy Savings Allowance.

This allows them to offset the cost of installing energy saving measures, including loft, cavity wall and floor insulation, against income tax, up to a value of £1,500.

Paragon has produced an interactive guide for landlords on EPCs, The Landlords’ Guide to EPCs, which can be downloaded from the www. paragon-epcs.co.uk website.

John Heron, Paragon Mortgages managing director, said: “Landlords are committed to improving the standards of private rented accommodation and, since 1995, there has been a marked improvement in the standard of private rented sector stock due to increased investment from residential property investors.

“Every landlord wishing to market a property for let will require an EPC, so it is likely that the rating of their property will add to the factors that a potential tenant will consider.

“Lower fuel and energy costs are important, particularly given the rising cost of energy, so a property with a high energy efficiency rating is likely to be a winner.”

THE Property Landlord Support Help Desk can be reached on 0151 639 6253 up to 10pm, Monday to Friday, and 07761 813260 at weekends.

tonymcdonough