From 1st April, all new rental leases and renewals of tenancies will be required to have an energy performance rating of at least E on an Energy Performance Certificate (EPC). For existing tenancies, the regulations come into force on 1st April 2020.
We wondered how much tenants are prepared to pay for energy efficiency. Properties across England and Wales let in 2017 with an energy performance rating of E achieved 3.1% more per square foot than properties let with an F or G rating. On an 800 square foot property, this equates to an average of £360 per year.
The majority of landlords are well prepared, but we calculate that around 7% of properties let in 2017 still need to be brought up to the standard required. Best prepared are London landlords where just 4.9% of properties let last year were lower than an E rating, while in the South West more than 10% of properties did not meet the standard.
At the top of the scale, properties with an A or B rating achieved, on average, 31% more per square foot than F and G rated properties in 2017. On an 800 square foot property, this equates to an average premium of £3,600 per year.
We would like to take this opportunity to thank you
for your continued support which has made 2017
such a successful year
and we look forward to working with you
in 2018 and beyond.
After months of hard work, our new website finally went live over the weekend and is looking fantastic! Why not have a good look around and see what amazing new features and information are included.
Our new banner has arrived today ready for tonight, and it looks great!! We are proudly sponsoring the Pink Wig event which is part of Falmouth Week and raises funds for vital research projects, the best care for breast cancer patients in Cornwall and a safer future for the next generation.
What are the common mistakes people make when searching for a new home?
Watch our video to find out:
1. Not setting your budget
Avoid disappointment and frustration by setting a clear budget, allowing for costs like stamp duty, conveyancing fees, and surveys.
2. Being too specific
Restricting yourself to one particular street could mean you miss out on a fantastic property on the other side of town.
Be open minded and ask your agent’s advice on other locations that are within your budget. Remember to decide what you’re prepared to compromise on ahead of time.
3. Falling in love at first sight
This can cloud your judgement. Are you overlooking the flaws? Ask yourself why you like it and if it actually meets your needs.
Don’t get too invested, as you’ll be disappointment if your offer isn’t accepted – remember there will be more than one property for you!
4. Overestimating your DIY skills
Be confident but realistic. Can you really do all that work – and afford it?
Guild Members are local experts who can help with your property search. Click here to find your nearest agent today.
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