As 2017 continues to roll on by and the new year draws ever closer, beads of sweat are beginning to roll down the panic-stricken faces of landlords across the country.
By now, landlords should be aware of the change in legislation that is set to come into place by April 2018. This dreaded date marks the onset of the new minimum energy efficiency standards (MEES). After this date, any property that receives an Energy Rating below an ‘E’, becomes unlettable.
But this got us thinking. How many people are actually prepared for April 2018?
When the date was first announced, nobody seemed to bat an eyelid. Landlords had plenty of time (years, in fact!) to get plans and preparations in place, so no one could hear the incessant ticking of the energy rating time bomb, slowly counting down in the background.
But now, April 2018 is just around the corner, and the new standards are slowly creeping up on many unprepared landlords. Government statistics have revealed that more than 400,000 properties in England and Wales could be unlettable because they fail to meet new energy performance standards. This equates to one in ten rental properties in the UK.
Drawing from our experience, we completely agree with these figures. Since the majority of properties assessed by Aldrock are usually rated between ‘C’ to ‘F, there’s definitely lots of work that still needs to be done by landlords if they want to avoid penalties. And in case you were unaware, local authorities will be able to impose civil penalties of up to £4,000 for non-compliance. So our word of advice would be: don’t get complacent about compliance!
But, if these changes weren’t drastic enough, it’s likely that the Government will raise the minimum energy rating to a ‘D’, or even a ‘C’! In the current climate, who knows when the date will come or what the minimum rating will; it’s entirely up for debate! With this in mind, we predict there’ll be a lot of anxious landlords worrying about the Government’s next move!
As the Government likes to keep their cards close to their chest, all we can say to landlords at this moment in time is: “stay ahead of the game, and stay frosty!”
However, if you’re a landlord that’s concerned about the energy rating of your property, feel free to give our office a call for some free, impartial advice!