New energy efficiency regulations start in April 2018: landlords risk hefty fines for low EPC properties
With 1 in 6 Landlords unaware of these changes, time is running out. Lenders are likely to want to see evidence that the minimum standard is being met.
Landlords are being urged to check the Energy Performance Certificate (EPC) ratings of their rental properties as the introduction of new energy efficiency regulations moves closer.
New energy efficiency regulations will start in 2018
As of April next year you won’t be able to let a property or renew an existing tenancy if the property in question has an EPC rating of below E-.
And come 2020, even if you have sitting tenants, your property will need to be E- or above.
If you continue to rent properties that do not meet the minimum EPC rating after 1 April 2018 then you could be fined up to £5,000 for non-compliance.
Landlords ‘completely unaware’
As many as one in six properties could currently fail to meet these standards, something that their owners may not realise.
“I have serious concerns that many landlords may be completely unaware that their properties could fall below the new minimum legal requirements for energy efficiency standards in England and Wales,” says Danielle Hughes, a solicitor at law firm Kirwans.
However, she goes on to say that a number of properties could be brought up to standard with “a couple of tweaks”, though others may require more substantial work.
To ensure you’re compliant when the time comes, Hughes recommends making a thorough assessment of all your properties and creating a plan of action for the next 12 months.
Original article by Anna Delves on SimplyBusiness