Boosting your EPC rating with grants for landlords from the Autumn Budget
As a Bristol landlord, you’re required to stay on top of a lot of regulation changes. And one of the most essential regulation changes is ensuring your Energy Performance Rating is compliant.
More than likely, you already know that since April 2020, if your property has an EPC rating of an F or G, it is illegal for you to let your property unless you have an exemption.
And you also probably know that in 2025, the minimum rating will be increased to C for all new tenants and until 2028 for existing tenancies.
Currently, around 3 million properties in the UK have an EPC rating of D or below. Our team at Brunt and Fussell, a letting agency in Bristol, highly recommend ensuring your EPC rating is compliant for all Bristol landlords, and if not, 2022 is the year to do it.
How to boost your EPC rating?
Some ways you can boost your EPC rating are:
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Top up loft insulation
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Add cavity wall insulation
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Install double glazing
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Use renewable energy
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Install energy-efficient lighting
But one of the best and easiest ways to increase your rating is to replace gas boilers with heat pumps.
Why swap your rental property gas boiler for a heat pump?
Most rental properties still have gas central heating systems, and the government aims to replace them with heat pumps.
And it’s what the government is pushing landlords to do to achieve their zero net carbon emissions goals by 2025 and make homes warmer and more affordable to heat.
In fact, after 2035, it will no longer be possible to even buy a gas boiler.
Grants for landlords to replace gas boilers and heat pumps
After a frustrating two years during the pandemic for landlords, it’s hard to imagine how you will be able to afford a new heat pump, especially in multiple properties. Heat pumps can cost between £8,000 - £18,000, depending on the size required for the property.
And landlords will massively benefit from funding to support the government’s plans for net-zero carbon emission, especially if it comes out of their own pockets.
And, luckily, the government allocated money for landlords to achieve this goal.
The government announced its Heating and Buildings strategy as part of the Autumn Budget. Starting in April 2022,there will be grants for landlords up to £5,000 to assist them n replacing gas boilers with heat pumps.
Ensure your property is compliant
Have you considered a fully managed letting agency in Bristol to ensure you’re fully compliant with all the new regulations?
Book your free valuation today.
