If you didn’t know it by now, as of the 1st April 2018, you could no longer rent out a property with an EPC rating of F and G.
Want to know more… read this blog.
There has been an update:
If you get a rating on your EPC of F or G then you are going to need to get the property to an E before you can rent it out…
However, there’s a new catch.
If you get recommendations on how to improve your property, you must do the recommended works, up to a value of £3,500 (including VAT).
That’s right, you need to be prepared to spend £3,500 to get your property up to standard.
Once you’ve spent this money, if it still doesn’t get the property up to an E rating, it can then be classed as an exempt property and you need to register the property on the PRS exemptions register… although you will need to prove that you’ve spent the £3,500 first, so bring receipts!
Please note that the £3,500 can include any money you’ve raised via green deal finance or any other Government finance given… so make sure you go to the Government website to see if you can get finance to help you first!
Finally, prior to the 1st April 2019 if a tenant wouldn’t let you in to do the work to improve the property’s EPC rating then you could make the property exempt. Now, once the tenancy comes to an end, you need to do the work to get the property up to an E rating before reletting.
So, there you go… the long and short of it is:
If you’ve got a property which is currently rated F and G, you need to be prepared to spend up to £3,500 to get the rating improved to an E.
What do you think of the new changes? Was this a helpful article?
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Natasha
