Energy warning for landlordsÂ
COMMERCIAL property landlords are being warned they face fines of up to £150,000 if they do not comply with the government's new energy efficiency regulations.
But a Hampshire-based independent property tax specialist says there is a silver lining to the strengthened Minimum Energy Efficiency Standard legislation.
Landlords are no longer able to let energy-inefficient commercial space without making improvements. All but a small minority of exempted buildings '“ commercial and residential '“ are required to have Energy Performance Certificates; with A being the most energy efficient and G the worst. Penalties for non-compliance are substantial, ranging from £5,000 to a maximum of £150,000.
Alun Oliver, managing director of E3 Consulting, said there are considerable tax breaks applicable for bringing energy-inefficient buildings up to scratch.