Private Rental sector called for improvements
When it comes to rental properties, here at G Herbert Banks you can trust that we know exactly what we are talking about. Established in 1898, we are proud to be one of Worcestershire’s leading Estate and Letting agents offering a wide range of flexible services to meet the diverse needs of our clients. Property management remains one of our most popular services we can provide, delivered by highly qualified experts in the sector.
Property management within the private rental sector
Private rental services are offered in bespoke management packages tailored to your own individual requirements so you can rest easy knowing you will get exactly what you need from us. We can manage a wide range of property types, dealing with clients with small and large annual rental incomes. In order to be able to offer the highest quality of service, it is important that we stay up-to-date with all of the latest developments and discussions taking place within the private rental sector – this month there have been calls to improve the energy efficiency within private property rentals, something which could potentially affect our clients who are private landlords.
Energy efficiency improvements for private landlords
Recently, the Residential Landlords’ Association (RLA) have called for the Government to aim higher when it comes to making sure private rented properties increase their energy efficiency. The RLA have said that Whitehall need to implement Minimum Energy Efficiency Standards much faster. These new standards will mean that from April 2020, all properties within the private sector need to have an Energy Performance Certificate (EPC) of at least an E rating. The association will be calling for all private rented homes to be as energy efficient as possible in its forthcoming submission to the Treasury.
How can energy efficiency be encouraged?
To achieve optimum energy efficiency in private rental properties, the RLA is suggesting that the EPC’s recommended work for landlords should be considered as tax deductible repairs. It is hoped that by making this move, landlords will be encouraged to look for and make continuous improvements to their properties, as opposed to doing the minimum to meet the current set targets. This proposed new method could therefore offer potential benefits to both the landlord and the tenant themselves.
Tax deductible repairs – Why?
RLA’s research body PEARL, found that nearly forty percent of landlords who had properties with an EPC rating of F or G could not afford to make the improvements needed to bring their property to at least an E rating. Landlords reported that on average, the work that needed to be done in order to bring their properties up to the required standard would cost around £5,800. In previous research, PEARL found that sixty-one percent of landlords reported that they would be encouraged to improve their properties’ energy efficiency with energy efficiency work tax relief.
Rental Properties management at G Herbert Banks
If you are interested in finding out more about our rental property management services then you can visit our website today. Alternatively, call 01299 896968 to speak to a member of our helpful and friendly team.
If you have found this blog helpful you may wish to read our previous blog on planning policies.
17 August 2018< Back to news