Fall in Rental Stock

April 2nd 2018
By: Lauristons
Fall in Rental Stock

Landlords have had a bit of a hard time recently with many changes to accommodate. The figures may well reflect the fact that the minimum energy efficiency standards come into effect in April. This will mean that all rental properties must be EPC rated E or above.  The dip in supply some say indicates that landlords are cutting it fine and taking their properties off the market to make the necessary changes before the deadline.

The regulations will come into force for new lets and renewals of tenancies with effect from 1st April 2018 and for all existing tenancies on 1st April 2020. It will be unlawful to rent a property which breaches the requirement for a minimum E rating unless there is an applicable exemption. A civil penalty of up to £4,000 will be imposed for breaches.

Some are concerned that up to 300,000 properties could be taken out of the private rented sector market after the deadline passed on Sunday because they don’t reach the minimum requirements. If you are a local landlord and want to help alleviate this supply crisis now is the time to act and upgrade your property or properties to help rental stock supply.