There are now less than six months to go before a major change to the EPC system comes into force – yet many commercial property owners are unaware of the changes and what a significant impact they could have.
From April 2018, it will be unlawful to lease a commercial property which has a poor EPC rating. If your property currently has a very low rating then you need to act now. Here’s what you need to know…
It’s been a requirement since 2007 for any property being sold or rented, whether commercial or domestic, to have an energy performance certificate. This is an independently assessed look at the energy performance of a property, examining things like property insulation and effectiveness of the heating to determine how energy efficient the property is.
Over the past ten years the EPC scheme has been subject to a number of changes and the next change will specifically affect commercial properties and domestic properties which are being rented out. Having been discussed for numerous years, minimum energy standards will be coming into force meaning that commercial properties with an EPC rating of either F or G cannot be rented out without having had energy efficient changes made to boost their energy performance to an E or above, or applying for an exemption under a limited number of grounds. Estimates indicate that around a quarter of all non-domestic properties in the UK will be affected by these changes.
If you believe, or know, that your property does not yet achieve an energy rating of E, which is the lowest it will be able to be, then you need to act now. It’ll be against the law for your property to be rented out and that is likely to mean even re-lettings by the same tenant. To avoid the risk that your property will need to be left empty until it’s energy rating is improved, we recommend having your property assessed as soon as possible so that you can identify the ways in which the energy rating can be boosted.
The Government are promoting the Green Deal scheme as a way in which you can secure financial support to make any changes that you need to make.
It’s also important to recognise that the minimum standard rating may not stay at E and could be raised even higher in years to come. As such, making some significant changes now to really boost the energy efficiency could save you money in the long term.
Here at Maxey Grounds we have many years’ experience dealing with commercial property within the Fenland region. If you need advice and support with your commercial property, then we are the people to speak to. Call us today.