Act Now to Improve Your Property's Energy Efficiency
Numerous office buildings across the M27 Corridor risk not being in satisfactory condition to let, unless landlords begin to pay attention to the new eco rules.
Proposed new legislation would see properties with a poor energy rating not being able to be marketed for sale or let. The new Energy Bill regulations which come into effect in 2018 will mean buildings with an energy rating of ‘E’ or lower would need improvements to their energy efficiency to be made before they can be let or sold.
“At present, many landlords are unaware or too relaxed about the new regulations, not giving enough attention to repercussions of the new rules.” warns Hellier Langston director Andy Hellier.
“2018 may seem a long way in the future, but it is important that landlords begin to plan early in order to protect their revenue stream on their properties.”
“There is a long history of new legislation being ignored and then being rushed into panic to deal with the issues it creates when it comes into force. Now is the time to start planning what improvements can be made to upgrade energy ratings. Input from property professionals is essential.”
From 2016 commercial property tenants will be able to demand improvements if their building has a poor energy EPC (Energy Performance Certificate) rating.
Landlords should use the changes to their advantage. Improved energy efficiency could attract an occupier to a property over competing space. A small investment in insulation, lighting or windows could see a considerable improvement in the energy efficiency, which in turn could lead to a substantial reduction in operating costs helping to improve an occupier’s profitability.
At present, many landlords are unaware or too relaxed about the new regulations, not giving enough attention to repercussions of the new rules.