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News - 11 August 2014

Consultation on energy efficiency standards for rental property.

 The Department of Energy and Climate Change (DECC) has launched two consultations on proposed minimum energy efficiency standards for both non-domestic and domestic private-rental property in England and Wales. 

 
If introduced in April 2018 as expected, the standards would require commercial and residential landlords to upgrade the energy efficiency of their properties to Grade E or above before they could be let. 
 
The consultations close on 2nd September 2014.
 
Christine Matthews, Property Manager at ABDS comments
“The 2011 Energy Act required the government to set minimum energy performance standards (MEPS) for both domestic and non-domestic privately rented property in England and Wales.  The lack of detail in the proposals had resulted in concern in the sector as to what this really meant and, in particular, the reference to the words that letting may be defined to include 'continue to let' and how that could work in relation to existing leases where they fell below the golden EPC asset rating.”
 
From 1 April 2018, landlords would not be able to rent out domestic or non-domestic property with an EPC rating below E, unless they had already made use of "all available funding or subsidy to make all reasonable improvements" and are still unable to increase the energy efficiency of the property to the required minimum standard.
 
Christine continues:
“There is a legal obligation by the government to take action to raise the EPC ratings of as many fuel poor homes "as reasonably practicable". EPC ratings should reach Band E by 2020, Band D by 2025 and Band C by 2030, according to the consultation. Households are considered to be 'fuel poor' if they are on low incomes but their energy costs are high, which could be because the property is poorly insulated. Domestic tenants would also be given the right to request that their landlords carry out energy efficiency improvements from 2016.”
 
The DECC has also published its response to a consultation on changes to the Energy Companies Obligation (ECO) scheme, which took place at the end of last year. It has confirmed that it will extend the scheme, through which energy suppliers are required to subsidise energy efficiency measures for low-income households, for a further two years, until 2017. The scheme is expected to be worth around £520 million per year and support an average of 260,000 households annually.
 
If you need any help and advice on the implications of Property Ownership, Letting and Taxation, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help.
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
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Great with people  
Clear and precise with advice
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In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
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