New energy efficiency regulations – are you ready?
- 29th March 2018
- Landlord Property News
Rules coming into force this month will help improve standards, attracting long term rentals and driving returns
New rules governing the energy efficiency of private rental properties came into force this month – meaning that landlords whose properties achieve only F or G ratings on Energy Performance Certificates (EPC) must take action if they want to continue letting them out.
The rationale is clear – to help lower energy bills and improve living standards for tenants – but there should be long-term benefits in such a move for landlords too.
Our view is that improving standards will help attract more quality tenants, leading to higher likelihood of long-term rentals and driving greater returns from increased rental and capital values.
In order to reap the full benefits of any work carried out, landlords should consider getting a new EPC to demonstrate compliance. Again, money well spent.
If you haven’t already done so, taking the time to understand the rules and how they affect you is vital. Using a regulated agent who can advise you of your responsibilities and your options in terms of exemptions or funding sources can help ease the burden.
Stephen Ludlow, Chairman at ludlowthompson, says: “Landlords may see this as yet more red tape, but in the end, landlords should benefit as well as tenants.”
“Reputable landlords may have some work to do to ensure especially older, period properties comply with the new rules, but most should not find these new rules overly onerous.”
“Anything that weeds out sub-standard properties enhances the reputation of the private rental sector.”
Here is a selection of recent reviews of ludlowthompson from landlord customers on the allAgents website:
"Jake has looked after my flat for the last 3 years and has done an excellent job. He keeps his word and always replies to queries quickly." Julia, Whitechapel
"I have dealt with Nicola for at least 4 years and have always found her to be commercial, supportive and straight talking. In particular, she was very proactive in ensuring my current tenants renewed their tenancy when she found out they were looking to relocate to alternative premises in the near locality but for a lower rent. Nicola negotiated with the tenants on my behalf and eventually struck a deal with them to both parties' satisfaction. This ensured continuity of income for me and avoided any potential voids." Serdar, Lewisham
Landlords may see this as yet more red tape but in the end they should both benefit as well as tenants
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