Rental properties are set to be subject to new minimum energy efficiency standards as part of new changes coming into place next year.
The changes mean buy-to-let investors may need to take action to ensure they comply with the new Minimum Energy Efficiency Standards (MEES). From 1st April 2018, it will be illegal to let or lease a residential property with a poor energy rating. Properties have to achieve at least an E rating on their Energy Performance Certificate (EPC) before they can be rented.
There are a number of reasons behind the MEES regulations. These include:
- Improving energy efficiency in properties
- Working towards achieving the UK’s legislative targets, which states that CO2 emissions must be close to zero by 2050
- Protecting the properties future market value
Despite the changes not coming into place until next year, experts are advising landlords to start making changes now, if necessary. Landlords can begin to prepare by carrying out energy assessments to check whether their current EPC rating is correct.
Improvements areas could include:
- Internal wall insulation
- Draught proofing
- Roof insulation
- Flue gas recovery devices
- Secondary glazing
- Water source heat pumps
Failure to meet the new regulations could result in legal and financial consequences, as after the deadline properties cannot be re-let if they do not meet the minimum standards. If landlords go against this they could face fines of up to £5,000.
Stan Tonchev, Associate Director of Kingsley Hamilton Estates said that ‘since the changes were announced, the team at Kingsley Hamilton Estates has been actively advising and making our landlords aware of what needs to be done to ensure they are compliant and don’t face any legal consequences or charges.’
To find out more about the changes mean for you, or for any other property requirements, give our team a call on 020 7078 0214, or send an email to firstname.lastname@example.org.