Whilst the Government’s announcement last week had a dramatic impact for domestic properties, there was no such U-turn for commercial property landlords.
If you are a commercial landlord, the legislation has not changed. Since April this year, it has been unlawful to receive rent for a property with an Energy Performance Certificate (EPC) rating of F or G. There are financial penalties for landlords not complying with the legislation, therefore it is critical you carry out a review of your property portfolio to ensure all your properties exceed the minimum EPC rating of E.
We also know that the Government’s future target is for all commercial property to be upgraded to an EPC grade B by 2030. It is therefore still critical for all commercial property owners not to rest easy and still investigate ways of futureproofing their assets.
Please refer to our previous articles for details of how to review your EPC, various potential exemptions and the measures you can easily take here.
We know that both the requirements for EPCs and the Minimum Energy Efficiency Standards legislation is very challenging and confusing to some landlords.
Please contact us to ensure you plan ahead to review how energy efficient your buildings are and to agree how best to ensure the minimum grades can be achieved. We can’t always predict future legislative changes, however we can help to ensure your buildings meet the minimum standards, not only for now but also futureproofing for years to come.
For more information or to find out how we can help, please contact Robert Franklin.
Everyone will be aware how recent world events have played havoc with energy prices. It’s a shame that it’s taken such a rapid increase in costs to finally bring such a vital matter to everyone’s attention but conserving energy has never been so important.
We are urging all non-domestic property owners to check their current Energy Performance Certificate (EPC) straight away as this will provide an initial guide as to how efficient their property is. Whether you are a property owner or occupier, reducing how much energy we need to heat our properties has the potential to save a lot of money. Energy costs are still spiraling so if you do have a poor EPC rating, considering retrofitting or renovation is vital.
We can advise you on how to improve your property. If your property is vacant or you are considering changes, this often provides the perfect opportunity to make alterations now to conserve energy and enable you to improve the EPC rating.
Heritage buildings often have inherent restrictions that make it more difficult to make sustainability minded improvements. They can often bring challenges, however we also have the expertise to advise on the most suitable works for listed buildings.
Potential improvements can come in an array of options; everything from upgrading lighting and heating controls, to major physical works to upgrade the external insulated envelope. Although some options may be expensive, we believe they should be seen as an opportunity to enhance the energy efficiency of the lifecycle of the building. Yes, there may be significant costs involved, however you should see this as a chance to make improvements to extend the long-term value of the building.
Government legislation now states it is unlawful to grant a new tenancy or extend an existing lease for a property with an EPC rating of F or G. There will be financial penalties for not complying with the legislation, therefore we recommend you carry out some simple checks sooner rather than later.
The legislation will also extend to all existing commercial leases from April 2023. So even if you think the regulations do not affect you straight away, it is essential you properly plan to ensure you can continue to let your property in the future.
If you need some assistance reviewing your EPC then please get in touch and we can help you. Act today and it may save you time, aggravation and a lot of money.
For more information or to find out how our Architecture & Building Surveying department can help you please contact Robert Franklin.