From April 2018 landlords have a new responsibility. Rental property must have a minimum Energy Performance Certificate rating of E, and the 2011 Energy Act stipulates than an EPC rating of F or G will be unlawful.
Initially the regulations will apply to new lets and renewals of tenancies, with effect from 1 April 2018, while existing tenancies must comply by 1 April 2020. Failing to comply will result in a civil penalty.
How to reduce the impact
As a landlord, these new regulations could mean significant extra expense for you. Here are our suggestions to mitigate costs:
- If you’re buying a rental property, make sure you check the EPC rating. If you’ll need to do work to meet or exceed the E rating, make an offer that takes the cost into account.
- Be sure you know the costs involved in bringing a property up to at least E rating standard.
- Explore the help available through the Government’s Green Deal. The Green Deal is a new Government initiative designed to help business and home owners implement energy-saving green technology in their properties. The idea is simple: install new green technology in your property with no upfront costs. You’ll pay back the costs over time through your energy bill. Unlike a conventional loan, the bill stays with the property where energy savings are being made – not with the bill payer.