Letting agents and landlords have been warned to make preparations for upcoming regulations conce...
Letting agents and landlords have been warned to make preparations for upcoming regulations concerning draughty properties.
As of April 2018, homes with an energy efficiency rating of F and G will not be allowed to be rented, and from next year onwards tenants living in such properties will be able to request improvements, with the property owner legally bound to bring the home up to at least an E rating.
According to government statistics highlighted by Property Reporter, close to ten per cent of England's private rented sector homes currently have an F or G rating.
Michael Portman, managing director of LetRisks, stated: "This legislation will have a significant impact on landlords with older, draughty properties in terms of extra expense and lost rental income, while they improve their properties."
However, he did note that there are several support schemes such as the Green Deal and Energy Company Obligation that can help property owners fund improvements.
"Landlords and agents are running a risk if they have F and G-rated properties and they need to manage this by upgrading and improving their properties," Mr Portman said.
He added that both buy-to-let mortgage providers and insurers will require landlords to comply with the new regulations, making it important that any improvement work is undertaken sooner rather than later.
Mr Portman also highlighted the fact privately rented properties will be legally required to have working smoke and carbon monoxide alarms installed from October this year onwards.
According to the government-backed Green Deal Finance Company, UK households signed up for £2.25 million worth of property improvements through the scheme last week (April 12th to 18th).
More than £45.6 million worth of improvements have been carried out or are in progress since the Green Deal scheme was started in 2013, Business Green reports.
Here at Belvoir Lettings we have always followed good practice regulations such as smoke alarms which we ensure are in all our rental properties & are tested on all inspections. From the 1st October 2015 Carbon Monoxide alarms are becoming a legal requirement & here at Belvoir Lettings West Derby we have already informed our managed property landlords of the new requirement, and taken measures to ensure they are installed prior to the deadline date.
Draughty properties can be an issue for both Landlord’s & Tenants. Landlords will often notice draughty properties don’t have as many ‘long standing’ tenants, and tenants who do live in draughty properties have higher energy bills. Belvoir Lettings West Derby feel that increasing the energy performance rating on a property will be beneficial for both landlords and tenants & appropriate measures to ensure property meet the new rental property standards will be more cost effective for both Landlords and Tenants.
If you are a landlord with a rental property, or a tenant looking for a property to rent, contact our friendly team on-