Minimum Energy performance standards have recently undergone a change within the non-domestic sector. There has been some concern raised by tenants and landlords across the industry on the impact that these newly imposed regulations will have on both future lettings and sales as well as the maintenance of property over the next few years.
The Government will certainly need to provide assistance in implementing these regulations effectively in order for them to be delivered within the required timescales.
So, what are these regulations ?
A property with an Energy Performance Certificate (EPC) rating of F or G will not allowed to be let from 1st April 2018. F and G ratings are the lowest on the current scale and show a property to be very inefficient in terms of energy consumption.
There are some exemptions for leases less than 6 months but for the majority of landlords looking to let vacant property from April 2018, there will need to be a serious consideration to ensuring the building meets minimum standards.
This date will come around quickly and for landlords who own property that have EPC ratings of F and G, it may be worth considering the necessary upgrades prior to 2018. This will reduce void periods, higher costs near the deadline and by planning for the future now, this will have a positive effect on the income the property generates. Ensuring the property is within regulations to be let will be paramount.
Tenant’s will be looking for energy efficient buildings more so than ever come 2018 to ensure they are efficient in their operations. We are certain that EPC results will be a major consideration for tenants when locating new buildings to sign a new lease on.
How can we help?
Dobbin & Sullivan have EPC assessors and advisers that can provide an insight into managing these new regulations. A report can be provided with the EPC assessment to show recommendations on how to reduce the energy consumption and maximise the performance on the building.