THE NORTHAMPTON PROPERTY BLOG
Hi I am Katherine Bond Director of Northwood Northampton but also the Author of the Northampton Property Blog.
I have been with Northwood in the Northampton property market since 2002 and have always shared my thoughts on the local property market in Northampton with our landlords and home owners, but now using modern technology, I want to share with everyone in the town.
In my blog, I will talk about what is happening in the Northampton’s property market itself, even looking at specific streets or housing estates. At other times, I will post what I consider decent buy to let deals (almost ‘Homes under the Hammer’ for Northampton). The deals will be on the market with other agents in Northampton as well as ourselves. I like to look at the whole of market and give you, what I consider the best investment opportunities.
At other times, I will post properties that I consider need serious consideration for homeowners. They might be because they are good value, nicely presented or some other reason that I think you might find of interest. If you see a potential deal, and want a second opinion, please do not hesitate to contact me. I will always give you our honest opinion on the property and if its a buy to let property, it’s investment potential. (both good and bad).
KatherineBROUGHT TO YOU BY NORTHAMPTON PROPERTY EXPERTS
1 in 36 rental properties in Northampton will NOT meet the minimum energy benchmark
So with my heating being cranked up at home it jogged my memory that i was going to let all you lovely Northampton landlords know about the New Legislation and changes regarding the minimum energy ratings for rental properties which comes in to force next spring. I’m sure if you are a Landlord you will probably know that in the last 10 years, every private rental property must have an Energy-Performance-Certificate rating or (EPC) for short.
You may have seen this type of graph before, as they are very similar to the type you get when you buy a new washing machines or fridge, they normally have a rainbow coloured graph on them rating between A and G with A being the most efficient and G being the least. Now the important bit of new legislation comes in to force next spring (2018), so for English and Welsh private landlords it will be illegal to let a property that doesn’t meet a certain energy rating.
So after the 1st of April next year, any new tenant moving into a private rented property or an existing tenant renewing their tenancy must have property with an energy performance rating of E or above. If you rent a property in the ‘F’ and ‘G’ ratings after this date you could face a fine of up to £4,000 from Trading Standards. When I looked at our borough council area in Northampton, out of nearly sixteen thousand rental properties there were 370 rated F and 66 rated G, so personally, I worry that a lot of Northampton landlords will be unaware that their rental properties could fall below these new minimum requirements.
Now I know that property investors are being hit left right and centre by this anti Landlord government at the moment and I understand some households may require substantial works to get their property into a E rating or above, but my experience is most properties may only need some minor work to lift them from illegal to legal. This is why I find it essential as part of my role here at Northwood to help educate our customers on the legislation changes as soon as possible, as planning and acting now, will mitigate the need to find tradespeople in the spring when every other landlord in the town will be panicking and paying top dollar for work to comply.
Talking with the Energy Assessors that carry out our EPC’s, they tell me most of a building’s heat is lost through draughty windows/doors or poor insulation in the roof and walls. So it could be a good idea to look at your properties Energy rating and see what the assessor suggested would improve the efficiency and try not to be the 1 in 36 rental properties in Northampton finding yourself with an illegal rental property next year, exposed to fines and emergency repair bills.
If you are finding that you are not getting the correct or best advice from your letting agent please do not hesitate to contact us at Northwood Northampton, you can call the office on 01604 607080 or pop in to our lovely new offices here at Victoria Promenade, Opposite Morrisons and we can check the EPC register and download your certificate to give you the guidance you may need and remember to ask us about our simple switching service (point top left hand corner) And please don’t forget to subscribe (wave you hand around and finish in the top right) around here.
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