There are just three weeks to go before the Government’s new MEES (Minimum Energy Efficiency Standards) energy bill comes into effect, so property investors and landlords ought to act now if they haven’t already done so to get their properties up to standard and avoid potential lost revenues.
From 1 April 2018 energy efficiency regulations in non-domestic buildings will mean that landlords of commercial rented properties – including public sector landlords – cannot grant a tenancy to new or existing tenants if their property has an EPC rating of F or G. And, from 1 April 2023, landlords must not continue letting a non-domestic property if that property has an EPC rating of band F or G.
A report from global real estate services firm Cushman & Wakefield estimates that nearly 20 per cent of commercial properties in England and Wales could fall short of new Government energy standards due to come into effect.
Replacing an inefficient boiler with an efficient one is the obvious solution, but a wide range of technology and maintenance measures can contribute to an improved EPC rating. Earth Save Products have a range of renewable energy solutions that can help landlords of both commercial and domestic properties.
Property owners run the risk of their assets decreasing in value if they don’t make the right improvements in advance of the change in regulation. Many landlords will find that relatively small changes will contribute significantly to making them compliant.
Financial schemes are available to help offset the cost of increasing energy efficiency ratings and in many cases, enabling commercial landlords to offset the cost of the equipment through energy bill savings. Once the equipment has been paid for, they have the option to make their rental proposition more attractive by increasing rental margins or passing the saving on to tenants.
Email firstname.lastname@example.org or phone us on 01865 598158 if you’d like to discuss how best we can help.