Monday, 4 June 2018

Does your #investment comply with #EPC changes in time for your next void period? Ask #Spencer #Sheffield

Energy Efficiency Regulation Changes
The government has decided that tenants in low energy-rated rental properties spend significantly more on energy bills than those in high energy-rated properties. According to figures, over 33% of tenants are reportedly unable to afford their fuel costs, this rises to 45% for tenants in F/G rated properties. 
If your rental property already has an energy efficiency rating of E or above, then you are already compliant and can relax FOR NOW.   If not then you need to start to think about what changes you need to make to improve your properties energy efficiency rating.
From 1st April this year ALL rental properties with new tenancy agreements signed MUST have an EPC rating of at least an E, if you already have a tenant living in your property before this time who is happy to continue without signing a new tenancy agreement then you are safe FOR NOW.    These regulations will be extended to landlords of existing tenancies whether a new tenancy agreement is signed or not by 2020.
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Things to do if you have a low rated EPC

1.       Check the recommendation section on your current EPC, this will advise you on what changes can be made to increase the rating. Some may be small others may be more expensive.  

2.       Speak to the assessor who did your original EPC as they may have more in depth advice without spending too much money.

3.       Make the changes in plenty of time of your next void time and have a new EPC generated

4.       BE COMPLIANT to avoid fines of up to £5,000 PER property.

If you need help or advice please contact our team at Spencer so that we can help you make sure you comply before the next void period so that we help to mitigate any losses. 

Call Lynn, Emily, or Ash now on 0114 2683682 

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