Don't get caught out by changes to energy rules
We are proud of being experts on the local property market in Crawley.
We are equally proud of keeping a focussed eye on any changes to laws and legislation which may affect our clients.
One such change has been the Government decision, which will come into effect on April 1, 2018, to require private rental properties to meet a minimum level of energy efficiency.
The move relates to Energy Performance Certificates (EPC). In layperson’s terms, EPCs rate the energy efficiency of a property from A to G (A being the most energy efficient).
They also contain recommendations on where you could make improvements.
The government plan is to ensure all EPC rated properties on the rental market are a least an E. This means it will be unlawful to rent out properties with an F or G rating. This applies to all new tenancies and existing tenancies that are being renewed or extended from April.
I’ve already had several discussions with landlords about what this will mean for them. One thing is certain people purchasing buy to let properties will need to factor in any extra costs this change could bring.
The costs could be big enough to scupper any deal so be warned.
It's also important to note that from April 2020, landlords will not be allowed to rent their property at all if the energy rating is F or G, even if there are tenants inside the property and in their contract.
If you have a Buy to Let property or are thinking of investing in one please give us a call and we can explain more about the proposed changes.