Attention Landlords – Changes to EPC Legislation come into force in April 2018
ATTENTION LANDLORDS – CHANGES TO EPC LEGISLATION APRIL 2018
Landlords Beware – Do any of your rented properties have an Energy Performance Certificate rating of F or G? If so, you’ll need to upgrade the properties by April 2018 if you are to re-let them. The new Minimum Energy Efficiency Standards (MEES) come into effect in April 2018 which require rented properties (residential and commercial) to have a minimum EPC rating of E.
From April 2018, where a property has a rating below E, landlords will not be legally allowed to re-let the property. The MEES rules will initially apply to new tenancies and to renewals; if your tenant has been in for 6 months or more prior to April 2018 and they wish to stay in the property they can do so with the existing F or G rating, but you must not formally renew the tenancy otherwise you will need to upgrade the accommodation. From April 2020, all tenancies will come under the MEES rules – new and existing. Upgrading properties whilst the tenant is in residence may prove problematic in some cases. The penalty for renting a property that this is below an E rating will be up to £4,000.
This particularly affects property in Skipton and the surrounding areas as large numbers of homes in the area are of pre 1950’s construction. The properties most likely to be affected are the older, Victorian and Edwardian houses, as well as older cottages and converted flats in stone villas.
Upgrading may be as simple as replacing an old central heating boiler, or installing efficient LED lighting, although some properties may need solid brick or stone walls insulating (internally or externally) to achieve the necessary upgrade by 2025 or 2030. Landlords should review their rental properties. Some properties will be ‘upgradeable’ and suitable to hold long term. For others, it may be prudent to sell, utilising your annual Capital Gains allowance (and any Private Property Relief where it was your former home) with a view to purchasing more suitable long-term investment property.
HOW CAN WE HELP?
Please give Carling Jones a call on (01756) 799163 or email email@example.com for some free no obligation advice on how we can help you reach the new requirements.
Please find the links below to additional guidance on the matter.