With new energy efficiency regulations set to take hold in April 2018 across the United Kingdom, landlords are having to prepare themselves for alterations, especially in London.
Reports last year confirmed that the U.K. Capital had one of the poorest energy efficiency ratings in both commercial and domestic properties in Europe.
37% of commercial buildings and 25% of domestic buildings rated E or lower on their Energy Performance Certificates (A being the highest rating, G the lowest).
For this reason, it is essential that any landlords in London, and further afield, whose properties rank as an E, F or G improve their properties energy efficiency as soon as possible.
Here are some changes that you can make to ensure that you will not be held accountable in 12 months’ time.
Firstly, it is essential that you get all of the administrative duties out of the way. This includes discovering what EPC rating your property has currently and reviewing your current leases to ensure that they are all altered to include the new EPC laws.
It is also extremely advisable to plan any works that need doing as quickly as possible. Property maintenance companies will be aware of the impending legal changes and will therefore be far busier but will also be charging a higher rate than normal leading up the April 2018.
There are a number of specific changes that can be made to ensure that your property meets the required standards of next year. Some of these alterations can even be done by the landlord themselves.
You can ensure that your loft and cavity wall insulation is to the required standards. While this may be a costly task, you could be eligible for government funding if the insulation is under a certain depth.
Another very simple and inexpensive way of guaranteeing that your properties reach the required standards is to change any halogen or high energy lights with LED’s or Low Energy Lighting.
Ensure that the central heating systems in your properties are effective, specifically the boiler. An aged, failing system could have an immensely adverse influence on your energy efficiency rating.
Lastly, you should consider renewable technologies such as solar panels. Again, this may seem like a costly procedure at the time. However, the long term savings will make it worthwhile. Any technologies like these will also increase your Energy Efficiency Rating immeasurably, perhaps more than any other change that you are planning to make.