The British winter weather is renowned for being unpredictable with snowfall one week and storms the next so be prepared and plan ahead for cold conditions, for flooding, for leaving your property vacant and don’t forget to watch out for frozen pipes!
Arlington
News & Blog
Landlords are you ready for the new energy rules?
From April 2018 in England and Wales it will be unlawful for a landlord to let commercial property with an EPC rating of F or G, unless an exemption applies; and from April 2023, the restriction will apply to all lettings, including existing lettings.
For landlords, freehold investors, developers and lenders this new legal standard brings threats but also opportunities.
The most obvious threat to landlords is the financial cost of upgrading noncompliant buildings and the potential loss of income if a property cannot be rented out. The provisions in existing leases may affect the statutory obligations of landlords under the MEES Regulations and may affect the position of the Landlord in dealing with the MEES Regulations.
There are, however, opportunities for landlords to engage with tenants to enter green leases where the environmental management and costs of the property, such as energy efficiency improvements and utility bills, are shared for the benefit of both parties and to explore the potential to increase rental and asset value through making energy efficiency improvements and combining these with other refit upgrades.
Landlords can prepare now by auditing their portfolios to understand which properties are within scope of the MEES Regulations and whether exemptions might apply, carrying out energy assessments to check whether the EPC ratings for their properties are correct understanding how lease terms, break dates, renewals dates and planned refit periods fit with the MEES timetable above and reviewing their leases to understand their rights.
Strong winds expected across the UK over Christmas
The current forecast from WeatherNet is for strong winds accompanied by rain, which is due to hit the UK during the early hours of Christmas Day.
Legal Indemnities
Right to light disputes can cause huge delays to commercial developments, and can even lead to completed buildings being torn down
We discuss some recent cases and offer guidance on how to mitigate right to light risks
Under insurance
Up to 80% of the UK’s commercial properties could be underinsured, with average shortfalls of 60% per property, according to estimates by the Building Cost Information Service (BCIS).
Underinsurance can cause claims settlements to be proportionally reduced, resulting in property owners not receiving a full indemnity following a loss. Inadequate property settlements can then go on to further impact a business, such as its ability to continue trading.