EPC Update – issues just over the horizon!?
June 6, 2013
The letting market continues to prove challenging and since 2011 it’s been mandatory to provide an EPC as part of a marketing campaign.
From April 2018, it will be against the law for landlords to let commercial premises where a minimum energy efficiency standard has not been achieved. The rating that premises will need to achieve has just been confirmed as an energy rating of E or above. Unless premises meet this rating works to improve energy efficiency will have to be undertaken. This means that landlords of buildings that are currently rated “F” or lower still have some time to make the necessary improvements. It is possible that the target date of 1 April 2018 could be brought forward.
The consequences of this new requirement are significant in that almost one fifth of UK commercial property will be un-lettable within 5 years’ time under the new Energy Performance Certificate rules, as approximately 17% of the UK’s commercial property currently fall below the required standard.