Landlords… beware of £4,000 fine
Landlords - are you aware that you only have one year left before any property let out in the private rented sector will need to meet a minimum energy performance rating on an Energy Performance Certificate (EPC)? Its design is to cut down energy bills and carbon emissions for tenants, particularly for those on low wages and in poor accommodation, and there are penalties for anyone who does not comply.
From April 2018, you will need to ensure that your properties have a minimum EPC rating of E, which applies to new lets and renewals of tenancies under an assured tenancy or shorthold. This means you will be forced to upgrade the energy efficiency of homes currently rated F and G. Unless there is an applicable exemption, it will be against the law for you breach this requirement, leaving you facing up to a £4,000 fine. Listed properties are exempt at present.
With almost 10% of England and Wales’ 4.2m privately rented homes falling below the E rating, there is a lot of work to be done over the next year. Only appropriate, permissible and cost-effective improvements are required under the regulations but it is a complex subject and there are exceptions, so this is not something that should be left to the last minute.
You need to make sure you are using an experienced and knowledgeable letting agent who is up-to-date with all legislative changes. As an award winning estate and letting agent ourselves, we are in the best position to provide apartment landlords in Bath the solutions they need to ensure best practice, as well as maximising long term financial success. Do get in touch if we can help you too.