So with all the changes you might have missed this little gem! To start on a negative point, its now starting to come up to the 10 year renewals of EPC’s (Energy Performance Certificates). These were commonly included in the HIPS pack that was scrapped for house sales and the EPC’s continued to be a requirement in house sales and lettings. An indication in short of how efficient the property is at staying warm or cool and what kind of costs per month you would be looking at on average to run. A valuable tool for folks where monthly costs are vitally important when it comes to affordability in a specific property. Initially as mentioned before they are valid for 10 years and have to be renewed, they also need to be renewed should there be any substantial changes within that property that could affect the rating at any point in those 10 years.
So now EPC’s are going to be renewed from now with the 10 year anniversary approaching of the introduction of them is it still vitally important the content of the report? Yes, even more so than ever! For any property that has a F or below rating then unless improvements are made then it cannot be legally let. This will come in to force from 1st April 2018 for all New and renewal tenancies. There are some exemptions, and where the property cannot fit within the required rating there are also exemptions. It is a requirement that from 1st October 2017 ALL properties that wish to be exempt are registered on the website listed at the end of this Blog to be considered. All exemptions are granted for 5 years where they will be reviewed.
From 1st April 2020 ALL tenancies without an exemption must have an EPC rating of E or above to be legally compliant. Now on to the positives, bear with me there is some!
The extended Government Energy Improvement …………. There are so many derivatives and terms for this, but ultimately what was commonly known as the Green Deal. Now it is more important than ever to ensure your property is as energy efficient as possible and use the means and funding that are available to the best of your ability!…… Cue a rush to find a means tested tenant to qualify……… Historically this would be true, Landlords would be changing the criteria for tenants to maximise the pot of funds available for Free or very low cost energy efficient improvements for private rental properties. There are however some very helpful hints and tips for Landlords to get access to these funds without stepping out of the comfort zone of non DSS Benefit tenants.
What about the exemptions you said? Well, the list of exemptions and whether they apply to you or not is still open for interpretation and the list is quite expansive. I’m sure that the closer we get to the end of the year once industry bodies and organisations have put them to the test then we will have a clearer picture. I’m pretty sure that most agencies will have at least one or two properties that they know will never be anything more than an F rating without serious structural changes so watch this space for the latest updates on the exemptions and changes as they happen.
If you’re a landlord looking for a little help with any of the changes happening or even looking to enlist the expertise of an industry leading lettings specialist then feel free to get in touch. Coventry 02476 222441 email@example.com @GodivaEstates www.godivaestates.co.uk.
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