Changes to the Energy Performance Certificate (EPC) rules could see those who don't comply facing hefty fines - and it all comes into force on April 1st 2018 so time is very much of the essence.
The prospect of new EPC regulations had been on the horizon for some time, but the Department for Energy and Climate Change finally confirmed the 2018 guidelines earlier in 2017, setting out the minimum level of energy efficiency for properties in England and Wales.
From April 1st 2018, landlords will be unable to let a property with an EPC rating below E.
The regulations apply to domestic and non-domestic properties, so what does it all mean for landlords and tenants?
Well, with the deadline looming, many landlords will be facing a race against time to make changes to their properties, not to mention a dent in their bank balances.
A possible rise in rental prices for tenants as landlords look to cover the costs involved in bringing their properties up to the required EPC levels.
Data shows between 2008 and 2015, a staggering 26% of domestic properties boasted an EPC rating below E. A worrying statistic indeed-
Trading Standards officers will be enforcing the new regulations, with fines offset against a property's rentable value. That means punishment of anywhere between £5,000 and £150,000 for those who don't comply.
If you are a landlord and worried about how the new regulations could affect you, talk to your local CJ Hole office today.