With yet another new piece of legislation looming and so many special offers the EPC (Energy Performance Certificate) is closing in on landlords. From October 1st 2008 all serious prospective tenants must be given a copy of the EPC either prior to or at the viewing of the property.
As a student landlord the logistics of handing out this piece of paper to any student who wants to view or is viewing a property could be potentially challenging.
Once properties are released around January 1st each year in our neck of the woods, students charge through available properties seeking the best accommodation in the area. Nearly all viewings by students are unaccompanied. The whole process from telephoning the landlord, contacting the existing tenants and viewing the property is pretty quick, often involving only a few hours or, in one case this year, a few minutes.
Student property details are published by letting agents and on County Council accreditation lists, so many students are now cold calling and missing out the contact with agent or private landlord. What if a student cold calls, without the landlord's knowledge and they didn't get an EPC?
The Government has not thought through very carefully the practicalities of this legislation. A better solution would be if an EPC were available for viewing only at the property by prospective tenants. They cannot take away a copy of the Landlord's Gas Certificate, Student Accreditation Certificate, PAT Certificate, 5 Year Electrical Certificate, Insurance Certificate etc, so why the need to take away an EPC?
When new tenants view their tenancy agreement and before signing, it is at this point that the EPC could be attached to the tenancy agreement. If the detail of the EPC, when viewed again, is a major priority for the student then it is not too late to back out before signing the contract.
Do you remember when school reports became more sophisticated? No longer just a grade C, but a long explanation on targets, ways to improve and progress. Despite this improvement to the report the parent usually looks at the grade first, not the comment. The EPC will go the same way. A much simpler solution would be to include an EPC rating in all written tenancy contracts. No written contract? Then provide a copy of the EPC before the tenancy begins.
EPC ratings are appearing in adverts - not yet compulsory. It's difficult to understand why a landlord would want to advertise that their property has an EPC rating of F, however a recent advert voluntarily displayed this information to all prospective tenants!
My solution is to leave a pile of certificates in the property and to ask the existing tenants to offer serious prospective tenants a copy of the EPC at the time of viewing. Scanning the certificate, as an email attachment to prospective tenants is another way to be explored. Any other ideas out there?
Are landlords rushing out to upgrade their old gas boiler to improve their EPC rating? The EPC could potentially discourage landlords from making upgrades to their property. The certificate lasts for 10 years, however landlords will need a new certificate and further expense, every time they make a significant energy improvement.
The location of the property - nearness to shops, pubs, nightlife, bus stops and quality of furnishings and furniture will probably feature more highly in the student's list of priorities, rather than an EPC, for a long time to come.
Special offers? My Energy Assessor charges £75 including VAT for an EPC. Can anybody beat that?