The property issues you need to address in 2017

As a landlord there are always property management issues that need to be dealt with. These become even more prominent when new property legislations come into play. Because you don’t want any last minute panics this blog shares upcoming property legislation changes to prevent you from getting caught out.

Minimum Energy Efficiency Standards (MEES)
From the 1st April 2018 landlords of commercial premises will be restricted from granting new tenancies or renewing existing tenancies if the building has an EPC rating of less than an E. However, there are exemptions for certain types of buildings such as some listed buildings or holiday lets.

When it comes to the new MEES regulations there will be penalties for non-compliance so it’s essential that your properties are prepared before the legislations come into play. Naturally, with any property upgrades there are financial costs however, if these are managed in the right way they will be substantially less than losing rent from a non-compliant property.

How to prepare for changes to property legislation
Auditing your property portfolio in order to understand the scope of the requirements is a good first step. Here at GMC we are able to carry out energy assessments to ensure the EPC ratings for your commercial properties are correct (we also provide EPC’s for residential properties). We are also able to put together recommendations on the areas which can be improved on to ensure your property meets minimum energy efficiency standards. Potential areas of improvement include;

• Wall and roof insulation
• Draught proofing
• Heating system replacements
• Replacement or secondary window glazing

Advice for lenders
It might be worth noting that when a lender takes possession of a property following default they will become subject to the MEES regulations.

Here at GMC we’re here to support your property maintenance needs, ensuring that your property portfolio is both profitable and compliant with legislations. If you would like a quote for improving the EPC ratings of your property portfolio and further details on the necessary timescales for doing so please contact the team at GMC on 01903 721020 or email info@genmaint.co.uk.