Date Published 17 November 2017
Is your property up to current standards, will you be able to let it out after April 2018?
As from the 1st April 2018 Landlords that do not meet the minimum standards in their properties will face fines of up to £5,000 for domestic properties and £150,000 for non-domestic properties, further penalties may be awarded for non-compliance with the original penalty notice if continues to rent out a non-compliant property.
Landlords will be prohibited from letting sub standard properties. This could make huge rent loss and financial difficulties.
Many landlords will no longer be able to let out a property if Energy Performance Certificate (EPC) rating is below E. As such landlords with properties in this EPC bracket should begin preparing now for April 1st.
Landlords of privately rented domestic and non-domestic properties in England or Wales must ensure that their properties reach at least rating of E before property is let or re-let to existing tenants.
From 1 April 2020 for domestic, and from 1 April 2023 for non-domestic properties these requirements will apply to continuing tenancies which are already in existence on that date.
Self-contained units also require their own individual EPC before property is let. Non-self-contained units such as bedsits do not require an individual EPC but whole property needs to have an EPC and will need to be compliant.
As the New Year approaches, it is a great time to review and reflect the previous year while preparing for the year to come. We all live in a very busy world with less and less time to ourselves, worrying about day to day dealings, work, family and when you are a landlord or landlady I do not have to point out how many other problems you are dealing with on a daily basis. And now I am not making it easier by mentioning that we have now a list of almost 150 new legislations in housing acts to worry about...
Despite all of these changes you can still be in peace, just make sure your property is compliant!
So if you find yourself overwhelmed by the above and all of the recent changes in Lettings Legislation and you are not sure if you will be able to let your property in 2018 do yourself a favour and do something about it now!
I have over a decade of experience in properties, I have done it for myself and for many of our landlords and I will be happy to help you too, drop me an email email@example.com or call 02070959386
If you have found this post helpful please share it to make sure other property owners are aware.