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A considerable amount of legislation that affects the property market and private rental sector is governed by the EU. The decision to leave will mean that not only will a lot of the rules need to be rewritten, but some are likely to be scrapped altogether.
This may bring some welcome relief to some Landlords, as the somewhat controversial requirement for EPCs could be one of those to go. The energy performance targets met with criticism as although the intention of them is to reduce energy consumption overall, Landlords felt the initial cost of implementing the required changes could be prohibitive and lead to knock-on spike in rent.
Other EU Directives that will need to be reconsidered include the EU Mortgage Directive and Right to Rent provisions.
It will be an interesting period and we’ll be watching carefully so that we can advise our Landlords and guide them through any of the new legislation changes that may occur.
