The 2011 Energy Act indicated that it could be illegal to let a property with an Energy Performance Certificate lower than an E by April 2018 and if you haven’t built that into the future of your properties, we are urging you to start factoring this in now.
With an estimated 16% of England and Wales’ 1.3 million non domestic stock rated F and G, EPC specialists put the cost at refurbishing these buildings at around £30 billion.
What is not clear is how much has already been done. Many Landlords are addressing this issue and have been improving the sustainability of their commercial buildings since 2007 but how much progress has been made is not certain.
However, there is still time to act before too much time passes and larger, unexpected bills are received. The market has begun to do its job with legislative changes just 48 months away and prospective purchasers are already using sub-standard EPC’s to chip away at prices, but the market can’t do it all. The government has yet to confirm how it will enforce the act but more importantly every property owner needs to ensure every one of their buildings is up to standard.