It has been found in a recent report that almost 17% of properties currently available on the private rental market could become unrentable by 2018 if government plans for new legislation go ahead.
The 2015 Energy Efficiency Regulations set out minimum energy efficiency standards for England and Wales properties. These regulations will make it unlawful for Landlords to grant a new lease for properties that have an energy performance certificate (EPC) rating below E, from 1st April 2018, unless the property is registered as an exemption.
The report, conducted Urban.co.uk, which questioned around 4,000 UK Landlords on a number of issues relating to the UK rental market, suggests that many private Landlords are unaware of the effect that the new legislation could have on their properties with a large proportion of properties expected to fall below the minimum energy efficiency requirements.
On this finding, Adam Male, co-founder of Urban.co.uk, stated "one reason to explain the lack of industry knowledge could be due to the recent influx in new regulations, which have flooded the rental market. With Landlords facing more changes than ever over the past couple of years, it is no surprise that many find it tricky to keep up."
To mitigate the potential impact of the new regulation, Landlords should ensure their properties achieve a rating of E or higher on the EPC scale. It is recommended that Landlords with below E rated properties should take action now if they wish to avoid legal complications in the future.
Let Leeds are committed to a supporting Landlords to meet regulations and in particular the Energy Efficiency Regulation. The launch of our 'room in a roof' scheme offers free roof insulation for properties with attic conversions. The scheme has many benefits to Landlords and Tenants including making attic rooms warmer in winter and cooler in summer, decreasing heating bills by up to 30%, reducing carbon footprint, helping to reduce damp and condensation and overall making properties more attractive to new Tenants.
For full details of our free 'room in a roof' scheme click here or to find out about our commitment to supporting Landlords call our dedicated team on 0113 320 2000.
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