Rules came into force last year to compel landlords of commercial and residential properties to ensure their buildings achieve an EPC Asset Rating of at least an ‘E’ and it is anticipated these rules will tighten further to ‘D’ and even ‘C’ ratings in the not too distant future.
Now landlords wanting to let out ‘F’ and ‘G’ rated residential properties are required to upgrade them to band ‘E’ if this can be done for £3,500 including VAT or less before they can be let. If not, exemptions are applicable.
For commercial buildings, the rules are different, these being linked to a seven-year payback calculation, professional advice upon which is recommended.
Minimum Energy Efficiency Standards (MEES) will encompass all private rented property by April 2023 even where a lease is already in place or the premises’ are occupied.
Daren Venning said: ‘This is one of the biggest upheavals to hit the property industry in a generation. It will inevitably impact upon property values and the appeal of buildings as investments.
“It is particularly important to seek the advice of an experienced Energy Assessor to ensure premises’ comply with the new rules and that landlords do not fall foul of EPC software changes or inaccurate assessments which are worryingly common.
“As such, a fail rating may in fact be compliant, whilst one that was rated as ‘E’ or ‘D,’ or even a ‘C,’ might now be a fail. Seeking the best advice is highly recommended.”
Upgraded homes benefit tenants, the landlord and the environment with reduced energy costs, potentially reduced maintenance costs and a cut in greenhouse emissions.
MEES (Minimum Energy Efficiency Standards) are designed to improve energy efficiency amongst the least energy efficient properties and reduce carbon dioxide emissions.
For advice on compliance and to arrange a comprehensive assessment, contact experienced Energy Assessor Daren Venning of Greenslade Taylor Hunt on 01823 334455.