Just in-case you thought landlords haven't had enough thrown at them recently, we have a new regulation you need to be aware of, coming into effect next year, and it's quite a biggy!
As from the 1st April 2018 there is to be a requirement for any properties rented out in the domestic private rented sector in England and Wales to have a minimum energy performance rating of E on an Energy Performance Certificate (EPC). These regulations will come into force for new tenancies and tenancy renewals as well as all existing tenancies on 1st April 2020.
It will be unlawful to let a property which breaches these requirements, unless there is an applicable exemption. If a landlord lets and continues to let the property in breach of the regulations, however, the breach does not affect the validity or legality of the tenancy itself, so the rent still continues to be payable. A civil penalty of up to £4,000 will be imposed for breaches.
As long as the minimum energy performance rating of E is obtained, it is at the landlord's discretion to choose which improvements need to be carried out. Only appropriate, permissible and cost effective improvements are required under these new regulations.
This is obviously a very brief outline of the regulation, so if you want to know a little more about exemptions, reviews and appeals, then head over to our good friends at the Residential Landlord Association RLA for an enthralling read.
Redbrick Properties was established back in 2002 and since then has gone from strength to strength building up a fine portfolio of residential properties along the way.
We could never be accused of being a faceless agency as both Mark and I still work front-line in the office along side our experienced and capable staff.