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Whilst it was recently announced that requirements for all residential properties to have a minimum EPC rating of C have been scrapped, it could still be a good idea for landlords to aim to meet these requirements. Improving the rating of your property will make it more desirable to prospective tenants and increase the value of your property. Furthermore, with the general election looming, a new government may opt for these to be put in place. Read on for tips on how to improve your EPC rating.
1. Upgrade lighting to LED lightbulbs
Investing in LED light bulbs rather than halogen or incandescent bulbs is a quick and affordable way to increase your EPC rating. LED lights are much more eco friendly and energy efficient.
2. Double or Triple Glazing
Double glazing will significantly decrease the amount of heat lost through the windows as well as to help improve your EPC rating by around five to ten points. For the average terraced property, the cost is likely to range between £2,000- £5,000.
You could take it one step further and invest in triple glazing. Whilst it makes it harder for heat to escape, the cost vs improvements to EPC rating in comparison to double glazing make it a lot less desirable.
3. Insulate walls and roofing
If the existing insulation in your property is poor, installing a new installation could be one of the most energy efficient improvements to make; an uninsulated property typically loses 33% of its heating through the roof. By ensuring roof insulation is at least 270mm thick, the heat that escapes will be largely reduced.
Installing either solid wall or wall cavity insulation will also have a huge impact on the EPC of your property yet the cost between the two vary significantly. For your average semi-detached property, wall cavity insulation could cost between £375-£500 whilst the installation of solid wall insulation could range from £8,000 - £22,000 for external and £3,500 - £14,500 for internal insulation. Solid wall insulation definitely is not a cheap option but will increase savings on heating bills significantly.
4. Upgrading the boiler
An inefficient boiler will drag the EPC rating down whilst an efficient model could improve it by up to 40 points. To put that into perspective, the minimum threshold for an EPC rating currently stands at 39 points, so improving your boiler has the potential to easily get your property to a required EPC rating. Whilst it may cost £1,000 - £3,000, you are likely to receive this back due to the improvements that it will make.
5. Install a Smart Meter
Whilst not directly linked to the EPC rating of your property, a smart meter will allow tenants to monitor their energy consumption. They give indications of what needs to be changed and how effective these changes are.
By joining our Guaranteed Rent Scheme at Elliot Leigh Guaranteed Rent, your property will be inspected every 8-12weeks by designated Property Inspectors. Our Property Inspectors ensure the property is maintained to a standard and can advise on any work that could support making a property more energy efficient.