Minimum Energy Efficiency Standards – 1st April 2018 Deadline
Landlords will benefit from energy improvements to their property to let as it will encourage tenants through the likelihood of reduced energy bills and will allow rents to be increased. The Residential Landlords Association is calling on the Chancellor to make all energy upgrades to rental property a tax-deductible expense.
Since April, all new or renewed private sector tenancies require properties to have at least an ‘E’ rating on their Energy Performance Certificate.
From 2020 that will apply to all private rented homes, with the target likely to be raised to a minimum C rating by 2030.
It says that if all energy improvements could be considered a tax-deductible repair, this would “encourage a culture of continuous improvements to property rather than simply meeting set targets and leaving them there”.
Energy efficient homes are good for tenants and good for landlords which is why we encourage landlords to make continuous energy improvements.
Further information can be found on the government website and the RICS advice page, links given below.
https://www.ricsfirms.com/glossary/minimum-energy-efficiency-standard/
