Some 6% of landlords’ risk financial penalties and being banned from renting if their properties fall beneath imminent energy efficiency rules.
From 1 April 2018, the new regulations have the potential to leave landlords unable to rent their properties and tenants with inflated energy bills.
The new Minimum Energy Efficiency Standards (MEES) rules will make it illegal for landlords to sign a new lease for properties with an energy performance certificate (EPC) rating of F and G from next month. Those caught breaking the rules risk a £4,000 fine.
Richard Truman, head of operations and Simple Landlords Insurance, said: “Keeping up to date with the latest industry news and regulations is key in making sure tenants and properties stay safe, and investments stay profitable.
“Ensuring that properties meet the new requirements isn’t just good for the environment. A more energy efficient home will also be more attractive to let in a competitive rental market.
Government research shows that rented properties with better energy efficiency are a third less likely to have empty periods than those with sub-standard ratings.