Agents and landlords are being warned by a property management agency to prepare for the next round of energy-efficiency regulation changes coming into effect next April.
Landlords should be aware of the introduction of new Minimum Energy Efficiency Standards – MEES – which mean the rental properties must achieve a minimum ‘E’ rating and will apply to new leases and renewals from April 1 2018.
From that date it will be illegal to rent a property with a new lease or renewal of an existing lease that falls below a minimum Energy Performance Certificate (EPC) rating of an E. The regulations then apply to all existing leases after April 1 2020.
If the property falls below this EPC rating, it would be deemed ‘substandard’ and illegal to rent.
The impact for landlords of having an illegal property are serious, with enforcement by Trading Standards which can impose a fine up to a maximum of £4,000.
The first step is to ensure properties have a valid and up-to-date EPCs that take account of any changes and improvements made to a building. Once poor performing buildings are identified, landlords can improve their rating through a few ‘quick win’ energy efficiency measures if not already put in place
Once landlords have their properties assessed, they can schedule in boosting energy efficiency to coincide with any maintenance and redecoration work at the end of the tenancy. Although there is cost and effort involved, energy efficient properties will have greater appeal to investors and this will reflect in improved values.
Useful info can be found through the Residential Landlords Association. Click here to read more