The Government department for Business Energy and Industrial Strategy has this week launched a new Consultation to look at improving private rented dwellings in England & Wales.
They are proposing to ensure that every private residential Landlord ensures that their properties have a minimum EPC rating of C.
The Government has acknowledged that PRS has some of the worst performing properties with 67% currently rated at lower than a C.
Two years has now passed since the Government introduced the Regulations stipulating that properties should have a minimum rating of an E, or the property cannot be let.
Landlords may not yet understand the implication of C being the minimum rating. This would mean some significant improvements are required to meet this standard, however with the potential loss in rental income this something that should be seriously considered now!
We are advising our clients with large portfolios of property to start planning now. The starting point is to determine their current building rating. Then budgets need to be made available to plan energy efficient changes over the coming years.
We are working with some landlords that welcome these changes, and see it as their social and environmental responsibility. And of course, the reduction in running costs is also a great incentive.