You may be aware as a Landlord from 1st April 2018 some rules are to change regarding new lets. Any property offered for new or renewed rental agreement will need to have an EPC (Energy Performance Certificate) rating of grade ‘E’ or higher. Property under existing agreements must be rated Grade E or above from April 2020.
Climate change means we need to upgrade our existing housing stock in stages. Where not appropriate to do so, Landlord exemptions can be applied for, including for: Listed Buildings; Temporary Buildings; and for some technical aspects – for example where a particular installation may not be technically suitable on a specific building structure.
Cost capping has been introduced to ensure no Landlord is expected to spend over £3500 on measures in a period. Conversely, failure to comply can result in fines of up to £5000.
Separately, tenants can apply for consent to do additional upgrade work to reduce their running costs; and improve the comfort of a rented property. Collaborative working has mutual benefits long term.
If you would like to discuss options to invest in and upgrade your property portfolio please get in touch. A wide range of upgrade measures are available; which may also increase the value of your property or increase your annual rental income potential.