Landlords and potential landlords may not be aware that new regulations have been passed by parliament which requires private rented accommodation to reach minimum levels of energy efficiency by the 1st April 2018.
Properties must now achieve a minimum rating of at least E on the EPC. This means that it will be illegal to let properties rated at F and G. So if you are buying a buy 2 let property please make sure you study the EPC and cost out any works that maybe require to achieve the E rating - we would recommend bring the property up to a higher standard of C or B. On a small property these works could easily exceed £5000. If this work is not undertaken prior to April 2018, it will be illegal to let the property and you will have a forced void while the works are carried out. Even if you decide to sell the property the extent of these works will be factored into any selling price.
So if you are acquiring new properties, please study the EPC in more detail then you have to date! And if your existing properties fall short then plan your remedial works well in advance on the April 2018 deadline.
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