The countdown to MEES compliance has started and landlords need to plan ahead to reduce any void letting periods or exposure to financial penalties.
All landlords will potentially be affected by the MEES regulations, irrespective of the size and nature of their portfolios
Failure to comply with the regulations could have significant implications on business continuity as landlords will not only be prevented from granting new leases (including renewals), but could also face financial penalties with breaches being published in a public register.
For property owners, the regulations will require landlords to have a greater focus on the energy efficiency standards of a building to ensure that they remain lettable and the capital value is not affected.
For funders and investors, there will be a greater emphasis on borrowers actively managing their real estate portfolios to ensure compliance with the regulations to prevent a void in rental income or to mitigate any impact on market value.
Thanks to Ruth Gilbody of Arbnco (formerly known as CO2 Estates) for providing the full article which you can read here.