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J T
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I understand your goals and objectives are going to be entirely different if you're closer to retirement, but of those people looking to the longer term, even smaller landlords, of which I am one, cannot complain that we didn't see this coming and have time to plan for it. I also hold the view that we have a moral duty to our tenants and the environment to make reasonable improvements.
From:
J T
10 January 2023 17:56 PM
Do you agree that you have a certain responsibility to improve the energy efficiency of your business? I'm not saying it will be painless, but it's about planning and investing in your business and its ageing assets.
From:
J T
10 January 2023 14:38 PM
We all have a collective environmental responsibility and cannot bury our heads in the sand. We've known about the government's views and long term aims regarding rental energy efficiency for years and the formal white paper was issued over a year ago, giving us a 5 - 8 year head start. Although the updates to the regulations have not been confirmed, you know it's going to come at some point. If Labour win next they are unlikely to be any softer either. Perhaps start investing now to improve things for your tenants and the environment, or at least start putting money aside to reduce the regulatory impact later. Also, with current inflation figures, the longer you leave it the more expensive it is likely to become. Most of our corporate landlords have implemented plans to bring their properties up to a C rating by end of 2024, or ensure it qualifies for one of the likely exemptions. It is going to cost me about £8k to do my own two properties that are both D rated and I budgeted to do so over 3 years. The government's plan is also to restrict mortgage lending from 2030 on properties that are not C rated or have a valid exemption, so it will apply to sales eventually too.
From:
J T
10 January 2023 14:19 PM
How would they envisage it working in a sub-let leasehold scenario? If the immediate landlord of the flat has the responsibility, they have no rights to alter the communal areas. Permission would have to come from the block management company which would be a nightmare in itself, and they would have to manage the works with their own approved contractors. If it becomes the superior landlord/freeholder's responsibility, then the leases are almost always worded in such a way that any costs can be passed on to the leaseholders via the service charge, so ultimately the residents will be paying for this.
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J T
09 June 2022 09:43 AM
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10 January 2023 17:56 PM
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From: J T
09 June 2022 09:43 AM