Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
EPC regulations are beginning to worry many landlords so I would like to raise this question; “should landlords be selling leasehold flats with a Band F & G EPC rating now?”
Just in case you are not aware, it will be illegal for landlords to rent out Band F and G rated properties from 2018. Further, we can not refuse tenant request to improve the EPC rating of these flats from 2016.
As leaseholders we only rent the space, we do not own the building. Therefore, how can we add cavity wall insulation, loft insulation or external wall insulation without the freeholders and every other leaseholders consent? I don’t think we can!
Can we compel our freeholders to do the works? I don’t think we can!
OK, we might be able to add a more energy efficient boiler but that’s about it isn’t it? Somebody suggested internal wall insulation to me today but who’s going to want that?!!! Making rooms smaller and what about sockets or kitchen/wardrobe fitting etc.?
The only logical conclusion for me at the moment is that if you own a flat with an F or G EPC rating get rid!
That’s not advice by the way, it’s merely a frustrated conclusion that I’ve come to, hopefully because I’m missing something!
I’m not the only one with similar concerns. Only last week, landlord Neil Branch posed the following question:-
“I have a 2nd floor flat that has an EPC rating of H. I would like to put in cavity wall insulation to raise this to a rating of E, to meet future regulations. However none of the other tenants in the block (15 flats) seem interested. Any suggestions as to how I could go about this?”
Any ideas good people?
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