The Energy Act 2011 contains a number of provisions which will affect owners and occupiers of property. Probably most significant are the proposed minimum energy standards.
From April 2018, the proposed legislative changes would make it unlawful to let residential or commercial properties with an EPC Rating of F or G (i.e. the lowest 2 grades of energy efficiency).
This could have very significant implications for landlords, and for occupiers who wish to assign or sublet space, including:
Given this risk to property owners and occupiers it is clear that a full understanding of the energy efficiency of your property assets should be attained.
Property owners and occupiers should also consider how their property values may be affected.
What can you do?
In the first instance, we suggest that if you let space in your buildings you should contact us so we can help you to identify the potential impact of the proposed legislative changes and the risk to your portfolio.
Clearly affected landlords and occupiers will want to minimise risk.
There is a high likelihood that the minimum energy standards proposed for 2018 will be raised in the future and Government is committed to implementing this policy.
We suggest the following immediate actions to provide you with a clear picture of the implications that this legislation have for you: