I am sorry to keep writing about energy efficiency but I see it as one of the most important topics in the industry at the moment!
As you are aware, back in 2021 the Government ran a consultation for all homes in the private rented sector to achieve an EPC ‘C’ rating for new tenancies by 2025 or by 2028 for existing tenancies. It has all gone very quiet on this front with no further updates, the expectation is for these dates to be pushed back to more ‘realistic’ timeframes or perhaps they will come to their senses!
It is important to note that with energy costs expected to stay high this winter and beyond, energy efficiency has become an increasing priority for many homeowners and tenants. During the recent student marketing period I have certainly noticed fielding many more calls about utilities, expected costs and EPC’s. In fact the EPC is a very useful tool in promoting a property to tenants, with rents ‘excluding bills’, pointing towards the C rating on an EPC is a great selling point. I think students are more likely to choose a property, in the current climate, that has a good EPC rating as opposed to a poor one.
The energy crisis and spiralling costs have led to students being even more conservative in their use of heating than ever before. We are well versed in explaining to tenants how to reduce condensation levels in HMO’s but this Winter has taken this to a whole new level. With this in mind, the decorative issues that we will no doubt face in the summer because of condensation mould and the Governments proposals; improving the energy efficiency and particularly insulation is a must moving forwards.