A leading property law specialist has warned that many buy to let investors remain unaware of the new Minimum Energy Efficiency Standards Regulations which came into force on April 1.
Under the new regulations, where a property requires an EPC, domestic and commercial rental properties are required to meet at least an Energy Performance Certificate level E or above.
Liz Brady, partner at law firm Furley Page, explains: "As a result of the new regulations, landlords are no longer able to grant leases to new tenants if the property has an EPC band rating of F or G.
"However, there are still many landlords out there who are either unaware of the changes to the law, or who are aware but are not sure how to address the issue.
"It is important that landlords comply with the new regulations, as failure to achieve the minimum EPC rating will require alterations to the property to improve its energy performance, which may take months to rectify.
"This could lead to lost income, as the property cannot be let until the works have been completed. The investment value of the property would also be affected until the necessary alterations have been carried out. There are also significant fines for landlords that are in breach of the new rules."