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EPC armageddon – what will happen when the new EPC rules are introduced?

Darren Ypey, Director of Sales at Spark Energy, explains what agents should do when a landlord's property doesn't achieve the minimum E rating required next year to let a property.

Darren Ypey

On the 1st April 2018, the Minimum Energy Efficiency Standards (MEES) EPC rules will take effect. At Spark, we’ve partnered with Vibrant Energy Matters to help landlords and their agents plan ahead and take advantage of the opportunity this presents.

The legislation means that landlords and agencies won’t be able to let properties with an EPC rating lower than E can’t be let. It’s estimated that 15-20 per cent of properties in the UK will need upgraded to meet the new standards.

WHAT’S IN IT FOR ME(ES)?

The new regulations offer a great opportunity for property upgrades. The big benefit is that meeting the new regulations can be achieved with little risk to landlords.

Vibrant Energy Matters can carry out a property survey to identify what work the property needs and, even better, how and where to get the funding from to carry out the works.

Secondly, if landlords aren’t convinced to upgrade to meet the MEES then Vibrant can help landlords to understand the exemptions that exist. For example, landlords do not have to undertake work in the following circumstances:

  • The measures needed to upgrade will not provide payback within seven years;
  • The landlord cannot gain the consent from their tenants despite reasonable efforts;
  • The measures required will reduce the value of the property by five per cent or more.

This is a real opportunity for general rental property improvements, through government funding – with the added tenant benefit of cheaper bills in the future!

ACT NOW!

Before you know it, the MEES regulations will be in effect.

Spark’s Partner Managers can arrange a review with Vibrant, who will then provide a comprehensive report on how properties can comply with the new legislation.

For more information about Vibrant, visit their website: https://www.vibrantenergymatters.co.uk/

September 27, 2017