Yesterday we held our annual Vision Day! The whole firm got together to discuss our vision for the next 12 months. Our theme was ‘Strength’ with sessions around strengthening our team, collaborations, relationships and most importantly, our care...
The changes : From 1st April 2018 there will be a requirement for any properties rented out in the private rented sector to normally have a minimum energy performance rating of E on an Energy Performance Certificate (EPC). The regulations will come into force for new lets and renewals of tenancies with effect from 1st April 2018 and for all existing tenancies on 1st April 2020 (2023 for non-domestic). It will be unlawful to rent a property which breaches the requirement for a minimum E rating, unless there is an applicable exemption.
The Penalties: A civil penalty of up to £4,000 will be imposed for breaches so these changes need to be taken seriously for any commercial or residential owner or investor.
What does this mean in practice: For most landlords this will mean that they will no longer be able to rent out a property with a rating of F or G after April 1st 2018 and there will be many landlords - both residential lets and commercial - who will be affected by these changes.
Improvements which must be made: After 1st April 2018, if a landlord looks to rent out a privately rented property which is F or G rated on a current legally required EPC - then energy efficiency improvements must be carried out to bring the property up to at least an E rating before the property is rented out, unless the landlord qualifies for an exemption and the exemption is registered on the Public Exemptions Register. Whilst for some landlords, this improvement work may not be too costly to increase the rating - for others the sums involved may be too expensive for a landlord to fund, making the premises un-lettable.
Advice: At Nowell Meller we can provide guidance on the regulations as well as sign-posting you to other professionals who can advice on the best way to comply. Please contact any member of the commercial team by calling 01782 813315.
