Minimum Energy Standards 2018
Commercial and Domestic buildings need to achieve and E or higher to be legally let.
From April 2018, the proposed legislative changes would make it unlawful to let residential or commercial properties with an EPC Rating of F or G (i.e. the lowest 2 grades of energy efficiency). This could have very significant implications for landlords, and for occupiers who wish to assign or sublet space, including: Marketability of some properties would become impossible unless they were upgraded to meet the minimum standards. It is estimated that approximately 20% of non-domestic properties could be in the F & G rating brackets.
The new minimum standards will apply to all lettings and re-lettings, including sub-lettings & assignments. Valuations of such properties could be affected if their marketability is diminished.
N-SURV works closely with building landlords from all walks of life and is experienced in providing fast tracked, no-nonsense solutions for those looking to ensure their building meets the Minimum Energy Efficiency Standards (MEES) with minimum cost and disruption. Call us now on 01633 547 062 / 07510 090 633 or email firstname.lastname@example.org for an informal chat.
Rent reviews for properties in this situation could also be affected. Implications for dilapidation's assessments would also exist. Given this risk to property owners and occupiers it is clear that a full understanding of the energy efficiency of your property assets should be attained. Thereafter owners and occupiers will need to assess the costs and viability of undertaking retrofits or refurbishments, and possibly bringing forward properties for marketing prior to 2018 or re-gearing leases. Property owners and occupiers should also consider how their property values may be affected.
The UK Government is committed to implementing this policy. Be ready or risk being fined and unable to let your property.