As the World Wide Fund for Nature (WWF) aptly summarises on its website we are the first generation to know we’re destroying the world, and we could be the last that can do anything about it. As they say, speaking up is one of the most powerful things you can do especially if it’s to the right people, writes Mark Chick, Senior Partner and Head of Bishop & Sewell’s Landlord and Tenant team.
So talk to your freeholder or managing agent if your lease prevents you from introducing energy saving changes to your lease. Ask them to commit to actions that will reduce our carbon emissions to net zero by 2035, the UK government’s new revised target date. In the residential sector, the buy to let market especially is being catalysed by new minimum efficient energy standards. Since April 1 2018, it has been illegal to grant a new tenancy on properties with an Energy Performance Certificate rating of below E.
Since April 1 2020, it has been illegal to continue letting such property (unless exempted). This minimum standard is expected to increase over coming years, as the government strives to meet its legally binding commitment to achieve net carbon zero. Less efficient properties will be, and arguably already are, worth less.
Many investors want to build a legacy to pass on to future generations. So, my one piece of advice would be to contact your freeholder or managing agent – you may be pushing on an open door.
Mark Chick has also provided leasehold advice on Bernie Wales’s recent blog: It’s Not Easy Being Green.
To get in contact with Mark Chick or a member of the Leasehold team at Bishop & Sewell to discuss any related issues, then please email firstname.lastname@example.org or call 0207 631 4141 and ask to speak to a member of the Landlord and Tenant team.
The above is accurate as at 07 January 2022. The information above may be subject to change during these ever-changing times.
The content of this note should not be considered legal advice and each matter should be considered on a case by case basis.