Nearly two-thirds of buy to let landlords have a lack of awareness regarding new Minimum Energy Efficient Standards that come into force in April 2018.
The 2015 Energy Efficiency Regulations outlined minimum standards for England and Wales. The legislation makes it a crime for landlords to grant a new lease for properties with an Energy Performance Certificate (EPC) rating below E from April 1st.
Somewhat alarmingly, the research found that 25% of landlords do not know about the requirements of the new regulations. These prevent them from renewing existing tenancies or agreeing new lets if they do not come up to minimum standards.
42% said they are only ‘vaguely aware’ of the new regulations.
27% said that they are unaware of the EPC rating of their property. 49% said that they didn’t know of the new penalties for failing to comply with the regulations, while 31% underestimated the consequences.
Mike Feely, energy efficiency expert at E.ON, noted: ‘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.’
Almost two-thirds of landlords unaware of new energy efficiency regulations
‘Whether landlords have in the past been put off by the perceived hassle, expense, or their own lack of knowledge around the subject, the clock is definitely ticking on the need to improve properties.
We know this can be a huge challenge for landlords so we’ve developed a range of services to give them the support they need, from online account management that allows landlords to better control their property portfolios through to a range of great value insulation and heating services to make rented properties more energy efficient,’ he continued.
Concluding, Mr Feely said: ‘For landlords worried about the potential cost of upgrading properties, financial support may also be available through the Energy Company Obligation if tenants meet certain qualifying criteria, with funding potentially available from major energy companies such as E.ON for insulation and new heating measures.’