66% of Landlords Unaware Of New Energy Efficiency Rules

66% of Landlords Unaware Of New Energy Efficiency Rules

  • 66% of Landlords Unaware Of New Energy Efficiency Rules

    Minimum Energy Efficient Standards Coming Into Force In April 2018

    Research has shown that 66% of buy-to-let landlords are unaware of the new MEES (Minimum Energy Efficient Standards) coming into force in April 2018.

    Energy Efficiency Regulations had set out in 2015, the minimum energy efficiency standards for England and Wales from April 2018, which make it a criminal offence for buy-to-let landlords to allow new leases on their properties with an EPC (Energy Performance Certificate) rating that is lower than E, unless the property have been registered as an exemption.

    The research also found that 25% of buy-to-let landlords have no idea regarding the requirements of these new MEES regulations preventing them agreeing to new lets or renewing existing tenancies if the minimum standards are not met, with 42% admitting they are only vaguely aware of these new regulations.

    Another worrying stat is 27% of landlords have no clue what EPC rating their property has, with 49% unaware of the penalty for not complying with the regulations, for which 31% underestimated the penalty.

    20% Penalty On Rateable Value Of Property Possible

    Breaching the regulations after 3 months has a likely 20% penalty on the rateable value of the property, which could become a costly fine for the landlord’s unawareness.

    E.ON energy efficient expert Mike Feely has said: “Government housing data already shows that the private rented sector has the highest proportion of properties falling in the F and G bands, so it’s vital landlords look into what they need to do before the regulations come into effect.”

    If you are a landlord with a buy-to-let property or a portfolio of properties that are in negative equity or you are struggling with property debt and need some help and advice. Call us or email us today for a FREE Consultation.

    This article was posted in Landlords

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