As landlords and as property developers…for both Buy to Lets and Professional HMOs another box needs to be ticked. Be prepared now going forward for the changes in EPC ratings. As from the 1st April 2018 there will be a requirement for any properties rented out in the private rented sector to normally have a minimum energy performance rating of E on an Energy Performance Certificate (EPC). The regulations will come into force for new lets and renewals of tenancies with effect from 1st April 2018 and for all existing tenancies on 1st April 2020. It will be unlawful to rent a property which breaches the requirement for a minimum E rating, unless there is an applicable exemption. A civil penalty of up to £4,000 will be imposed for breaches.
A simple inexpensive suggestion is to get a EPC report before you even purchase a buy to let or a Professional HMO. Actually we are selling a Social Housing HMO that had a rating of E prior to refurb. One of the conditions set forth from the buyers solicitor wanted an updated EPC. We went from a E to a D. Most of our Professional and Social HMOs we bring them back to the brick. New double glazed windows add to the efficiency among issues.
Suggest reading the RLA guidelines…
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