Sustainable Property Management

Call: 0845 643 0845

info@bamptonsmanagement.co.uk

What is Sustainability?

The term sustainability is in widespread use and is now regarded as being principally associated with energy savings, reducing carbon emissions, and also in minimising scarce resources used to achieve a particular task. Therefore sustainability issues are not only related to heating and lighting flats but also dealing with utility companies and managing common areas.

For residential property, the range of factors that can be included in for a sustainability programme are:

• Energy costs
• Energy efficiency
• Waste management
  
• Water usage
  
• Building structure
  
• Transport and accessibility
  
• Building management and information systems
  
• Environmental risk
• Legal compliance with current regulations
  
• Staff and contractor awareness and training
• Renewable energy

Why Address Sustainability Issues Now?

If you own residential property that is over 5 years old, you simply cannot afford not to. Rising energy, water and waste disposal costs continually add to your building's running expenses.

There is another aspect to sustainability that is equally significant. The Royal Institution of Chartered Surveyors recognises that properties which have poor sustainability characteristics will find their value and rents under significant pressure in the next few years. What will cause this?

The Impact of the Energy Act 2011

The Energy Act 2011 sets out provisions which could prevent the least energy efficient properties, including flats and apartments, from being sold or let from 1 April 2018.

For the purposes of the Energy Act, energy efficiency is to be measured through Energy Performance Certificate (EPC) ratings. Research has shown that around 40% of properties could be at risk of losing value as purchasers begin to establish a price differentiation between properties that are energy efficient and those that are not.

Additionally the Energy Act also means that from April 2016 private residential landlords will be unable to refuse a tenant's reasonable request for consent to carry out energy efficiency improvements. This means you may have to fund significant energy improvements if you have a tenant or intend to after April 2016.

We believe these measures are an important factor for the valuation of property and will have an impact on market value because those flats and apartments that do not meet at least an EPC rating of an "E" or above could face obsolescence.

Energy efficiency also applies to new buildings. Those that are poorly maintained will also suffer if the management of the building is weak because this will have a negative effect on energy outgoings and therefore ultimately on the value of the flats and apartments within it.

Quite simply, in the future when faced with buying a flat or apartment, purchasers will favour buildings that are energy efficient and sustainable because they will know their properties will then retain value and will be easily let.

To help you review your position now in anticipation of this major change to the property market, Bamptons have developed a range of sustainability services to help you maintain and improve the value of your property. We can:

• undertake appraisals to establish the most appropriate and cost effective solutions
• help to set achievable targets for reducing energy use, waste and water
• ensure compliance with relevant legislation
• identify grants and funding to pay for improvements
• embed sustainability within the overall property management

"Those who foresee the future impact of sustainability on property values will prosper while those who do not will lose out."

We want you to be forewarned about this potential risk to the value of your property and are here to help you.

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