LANDLORDS – IS YOUR PROPERTY PORTFOLIO ABOUT TO CATCH A COLD?
IS YOUR PROPERTY PORTFOLIO ABOUT TO CATCH A COLD?
Did you know that from 2018, all rental properties must have an energy performance rating of ‘E’ or above before it can be let out?
Furthermore, according to this article in ‘The Telegraph’ “Tenants will also be able to demand improvements to insulation from 2016, when landlords will not be able to refuse tenants’ “reasonable” requests for energy efficiency measures.” Link to story: http://bit.ly/XIQPjM
What this means for you. Whilst, landlords whose property portfolio’s already comply with these energy ratings need not worry, owners of properties (particularly older properties) which have a rating of ‘F’ or below should consider taking action sooner, rather than later.
The simplest, most cost-effective option may be to follow the guidelines and suggestions in the EPC report. Most often this will simply be a case of adding extra loft insulation and upgrading the central heating/ double glazing. However, where this is likely to impact significantly on your investment yield, you may wish to consider selling your existing portfolio and replacing it with housing that holds a better energy rating.
If you are a landlord with property in the West Cornwall area, PDQ, will be happy to help and advise on this or any other property sales or rental matter. If you have any queries, you can call us on 01326 561561 / 01736 339143
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About Chris Wood: Chris is an estate agent with over 25 years of property experience. His business, PDQ Estates Ltd is based in Penzance and Helston, West Cornwall. He has worked with all sizes and types of businesses from single office independents to the management team and board of RBS and Tesco. A former President Elect of the NAEA and board member of NFoPP until he resigned in 2009, Chris has always championed the highest professional standards forestate agents in the UK. No stranger to the media, he has appeared on various programs including BBC, News 24, ITV, independent and BBC radio and is a regular contributor to trade journals, local and national Newspapers. Chris is on KloutLinkedIn Ecademy Facebook and Twitter Married to Amanda, they live in Penzance with their children who are slowly flying the nest, along with their three spaniels. In his spare time; Chris likes to keep fit and is a long-standing member of the Territorial Army. In 2010 he mobilised for a tour of duty in Afghanistan with 1 Rifles as part of 3 Commando Brigade.