Landlords must check energy efficiency of their properties
Landlords are being advised to check the energy efficiency of their properties as it’s revealed one out of 20 buy-to-lets could fail the new rating standards when they are introduced in April 2018.
A new survey from insurance firm AXA reveals that in excess of 200,000 rental properties could have to be withdrawn from the market as they are at risk of failing the new standards.
From 1st April 2018 onwards, private rented properties let out to tenants will need to achieve an energy efficiency rating of at least an E (rating bands run from A to G, with A being the most energy efficient, and G being the least). However, this only applies to renewals and new tenancies. Only from April 2020 will it apply for existing tenancies.
If a landlord attempts to let out a property which doesn’t comply with the new regulations, that landlord will face a hefty fine. Landlords therefore need to make sure their properties meet the minimum level of energy efficiency standards ahead of the April 2018 deadline.
Though the new regulations will affect most landlords, there are, however, some exemptions. You can find out more information about exemptions for landlords here.
But according to the same survey, there is evidence that more landlords are improving the energy efficiency of their buy-to-let properties, meaning the number of properties which may not meet the new energy efficiency standards is on the decline.
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