Post-COVID, the landscape for landlords and lettings business owners faces further regulation.
The latest potential squeeze on landlords revolves around the Minimum Energy Efficiency Standards, which could take effect in 2025; these changes will impact the domestic rental property in England and Wales.
In practice, this will likely lead to tougher rules regarding your Energy Performance Certificates for each of your properties and the measurement of how efficient your properties are.
New legislation proposes that if you wish to advertise your property for rental from 2025 and onwards, you’ll be required to give lettings agents an updated and compliant EPC of a minimum of a C (currently an E).
This can potentially cost landlords thousands.
Landlords will be expected to pay for either insulating their properties to retain heat or use other ‘fabric first’ features that can help to improve heating and lighting.
What’s the trigger for the added requirement? Well the government is focused on the ‘green recovery’.
The current government mandate is to ensure that homes are energy-efficient and reduce
carbon waste, helping towards the government’s net-zero target.
We listen to dozens of Landlords a week at our parent company AllServices4U.co.uk and one of the big ‘pain questions’ that we receive is, ‘how many more changes are there going to be, which will cut into my margins’?
It’s a tough question to answer, however, we can only answer by saying ‘we cant be 100% sure but likely yes’.
There is one thing that we are 100% sure of, however, and it is the fact that landlords must find solutions that protect themselves against the inevitable changes and do it in the most cost effective manner possible.
Our clients a kept on asking us for help, so we created the Total Asset Protection Plan