LandlordZONE Newsletter - February 2008 - Energy Performance Certificates

This month’s edition of the LandlordZONE Newsletter is devoted to Energy Performance Certificates (EPCs) which are being phased in this year.

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It’s important that landlords are aware of this development as all residential and commercial buildings are affected from 1st of October at the latest, with some commercial buildings being affected earlier.

Remember, heavy fines are on the cards for non-compliance.

Energy Performance Assessors are likely to be in demand so prudent landlords may consider getting their properties up to standard and assessed early, especially if re-letting is likely.

The Landlord’s Energy Savings Allowance scheme (LESA) allows landlords to claim the cost of buying and installing energy saving measures against their tax bill, so take alook.

Content for this month’s newsletter has been supplied by Jane Needham B.Sc(Hons) MRICS, Chartered Surveyor, Accredited Domestic Energy Assessor.

Jane, who answers questions on the LandlordZONE Forum as a Topic Expert on Energy Assessment, Business Rates and Council Tax matters, has 18 years’ experience as a property professional.

It’s property show season again and we start off with one of the UK’s biggest events: 7-9 March 2008 at ExCeL London, The Homebuyer & Property Investor Show
Friday the 7th has been designated “Landlord’s Day” so there will be more exhibitors of interest to landlords that day.

LandlordZONE will be exhibiting and Editor Tom Entwistle is giving a presentation:

15:45—Tom Entwistle—LandlordZONE—Investing in Commercial Property: Successful Strategies for the Private Investor in 2008

Other seminars of interest:

10:45 - Paul Shamplina of Landlord Action—Dealing with Tenants From Hell

16:30 - David Lawrenson, consultant, author & regular contributor to the LandlordZONE Newsletter -  What type of property will show both capital and rental growth over the next 5 -10 years?

13:30 - John Socha - of the National Landlords’ Association—Lettings 2008 - Threats and Opportunities (also on Saturday & Sunday)

12:45 - Christopher Tanner - Blevins Franks Mortgage Brokers—The state of Buy-to-Let mortgage finance post-Credit Crunch

13:45 - Andrew Callen—lawyer, HMO’s and Positive Cashflow
Full Seminar Details —We look forward to seeing you at the event!

Tom Entwistle, Editor

EPCs for all sales and lettings of property are due to come into force on a phased scheme. By 1 October 2008 let residential property MUST have a valid EPC when it is let.

The EPC scheme will apply to commercial property from 6 April 2008 (1000 sq M+) 1 July 2008 (500 Sq M +) and 1 Oct 2008 (All)

An EPC can only be carried out by an Accredited Energy Assessor. For let residential property this must be an accredited Domestic Energy Assessor.

Registered EPCs are held on a central register and can only be accessed by the landlord or person who is responsible for commissioning the EPC, although it must be made available for viewing by prospective buyers or tenants.

An EPC is valid for ten years on let property. If changes are made to the property which may affect the energy efficiency of a property, then a new EPC should be commissioned before a new letting takes place.

The theory goes that from the EPC, a potential tenant can see just how much it is likely to cost to heat and run the house for a year. Publicity will be aimed at tenants encouraging them to assess properties through the EPC before taking up a tenancy. The impact of this for the landlord is that tenants will be more aware of these issues and will become more selective on energy efficiency.

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