Are you a landlord?

April 8, 2018 by Joanna


Are you a landlord?

If you are a buy to let investor with a property or two that you rent out then I am sure you are well aware of the changes that have taken place with stamp duty for investment properties and tax relief that means you are taxed on all of the rental income without being able to offset your buy to let mortgage interest payments? Deep joy!

This month there has been another change that has been implemented that you may not be as familiar with. As you probably know all rental properties or sales ones for that matter, need have a Energy Performance Certificate (EPC). The property is given a rating for how efficient it is ranging from A being the best right down to G which basically means it is leaking like a sieve. Well the government has now made it compulsory that all rental properties have to have an energy efficiency rating of E or above.

For most properties this should be fine but for some it may mean the upheaval and considerable expense of having to replace or at least upgrade boilers, double glazing or insulation. If your rental property does need these upgrades it could be that you have to wait until the property is empty for you to carry out these major works and obviously having the property empty will cost you money. If it is a new boiler or windows that is required the costs could run into a few thousand pounds.

Unfortunately though it has got to be done. The government has imposed fines of up to £4,000 for this properties and landlords that do not comply. If you are unaware either if your rental property has even got an EPC or if it has what rating it has been given there is a central register at www.epcregister.com that is available for you to find out and lots of advice on-line or from ourselves on how to ensure your property does comply.

On a completely different note it seems that my colleague Lisa takes it very personally and takes offence if I don’t mention her at least once in my blogs. As you can tell she is quite needy! This week I am delighted to be able to wish her a happy 30th birthday. I know she looks older (she had a tough paper round) but trust me she doesn’t act it! We are all looking forward to her party which I am sure will be great fun with lots of her brilliant dancing.

To read all of Rob's previous blogs please click here 


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