Energy Efficiency Standards Act or be Fined!

Energy Efficiency Standards     Act or be Fined!

Does your EPC Measure Up?

Maher Ross Flow Chart

Energy Efficiency Standards     Act or be Fined!

MINIMUM ENERGY EFFICIENCY STANDARDS  - ACT OR BE FINED!


Introduction

Tough Energy Efficiency Standards are being introduced by the Government to all Rental Properties in April this year and this will affect all landlords with property with an EPC rating of F or G.

Your property falls into this category and unless the EPC rating is improved in the immediate future, the following restrictions will affect you:

From 1st April 2018, landlords of private rented properties will not be able to commence or renew a tenancy if the property has an EPC rating of F or G.

From 1st April 2020, landlords will not be able to continue to let a property with an EPC rating of F or G.

The penalty for breaching the new regulations will be a civil penalty of up to £5000.

There is some light at the end of the tunnel for landlords though; in many cases, Green Deal Funding can be applied for by landlords and this can potentially cover some, if not all of the costs involved.

We do recommend that you check this information for yourself online before taking any further action and this is easy for you to do by visiting the following free and easy-to-use service: https://www.epcregister.com/

Simply click “Retrieve Report Using Property Address”, Accept the terms and conditions, and type in the postcode of your property before following the link to your own EPC.

What Should I do Now!

If you are with Maher Ross, the first thing to do is NOT to panic!

Maher Ross has worked hard to make this process as painless and as simple as possible for you by partnering with Steven at IOW EPC Services and we can now provide you with a simple and cost-effective ‘3 Step’ solution:

Step 1 : Reassess the Property

Since EPC’s were originally introduced, the algorithms that the assessors use have changed significantly and they are now much more favourable for Landlords. It is possible that your property may simply move up a band when it is reassessed. The first step would be for us to arrange for a new EPC through IOW EPC Services and to consider the results.

Please let us know if your property is Listed or located in a conservation area at the time of booking because this may make you eligible for an exemption.

The cost of Step 1 is £80 (including VAT).

Step 2: Obtain Exemption or Green Deal Certificate

For those properties that remain within bands “F” or “G” after re-inspection, IOW EPC Services will provide you with plenty of practical advice on the best way forwards. They can either apply for an exemption on your behalf or will be able to obtain the Green Deal Certificate, (which enables funding) on your behalf.

The combined cost of arranging for Steps 1 & 2 is £180 (Including VAT).

After a green deal certificate has been obtained, your next step would be to instruct an appropriate installer to undertake the work. Maher Ross are happy to arrange access for your contractor.

Step 3: Re-Certify the property

Once the work has been completed , IOW EPC Services will re-assess the property and arrange for a new certificate to be issued.

The cost for completing of Steps 1,2 and 3 is £250.

Further Information?

There is a raft of further information available; for example from the following websites:

http://www.maherross.com/landlords-news/80-1
https://www.rla.org.uk/landlord/guides/minimum-energy-efficiency-standards.shtml
https://www.gov.uk/government/publications/the-private-rented-property-minimum-standard-landlord-guidance-documents

Summary

We understand that the introduction of Minimum Energy Efficiency Standards is likely to be disappointing for you, however, recent research indicates a direct correlation between ‘tenant happiness’ and the amount that they are paying for energy. Happier tenants tend to stay in a property longer and are content to pay more rent - all good news for a hard-pressed landlord, particularly if the measures can be implemented using Green Deal funding!

We have attached a Flow-Chart of the process that we recommend to re-certify your property. Please let us know if you would like any further information.