December 14

EICR Deadline Near, Are You Prepared?

EICR Deadline, They Become Mandatory For New Tenancies by 1 April 2021

EICR deadline looms, we are already seeing an average increase of almost 35% in some areas. That’s going to soar as we get closer to the deadline.

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Video Transcription:
So EICRs (Electrical Installation Condition Report) they are mandatory for any new tenancies, but what’s the issue with them that we are facing now as we come up to the deadline of the 1st April 2021.
Hey guys don’t forget to click the like and subscribe to my channel so you get notifications and if you can press the notification bell that would mean you will get an update straight to your inbox so you know exactly when I’m going onto livestreams. Obviously I’m doing videos on a daily basis now and you know we are really starting to get into the detail now. If you want to learn about property, if you want to learn how to do property the right way which is what I consider to be in an effortless fashion. So you get professionals doing the various things that you need and you focus on living the life that you want, the career or whatever. If you don’t have the time to go and do it yourself but you know you need to do it. Let’s face it we all need to build a portfolio, we need to build a portfolio of properties in order to self fund our retirement and that is critical right now but not just self fund retirement it could also be to create the lifestyle that we want, pay for the kids education and all the things that we want to do with our lives and property can give that to you. So let’s go on a journey and I will teach you how to do all that effortlessly.
Electrical Installation Condition Report: Deadline looms for Landlords. The deadline is 1st April 2021. Now, if you’re putting a new tenant in basically since 1st July 2020, you should have one of these done before you move them in, you’re not allowed to move them in. As of 1 April 2021, existing tenancies must have them as well. Now, here’s the issue that’s why it’s in the news right now. What we are finding is the suppliers we are using, we’ve got properties all around the UK, we probably have 20, 30, 40, 50 suppliers that we use across the UK and what we’re finding is the overwhelming number of them are starting to raise prices for EICRs. I think that is going to start to happen where prices are going to start to rise for these things, because they have PPE, they have to account for lockdowns, they have to account for all this sorts of stuff, tenants not being there when they go. We are starting to see that sort of happening, the other side of it is, and this is what the guys we work with regularly say they are already booked out. So in order to take more bookings they are going to charge more so they can bring in more staff and do that, if they can find the staff because this is the other issue. 
Rob runs our Maintenance Team up at Ezytrac Property Management and he says “We’re already seeing an average increase in price of almost 35% for EICR’s in some areas. That’s only going to soar as we get closer to the deadline. 
That is going to be the next point I’m going to make, thanks Rob. As the deadline looms that 1st April 2021, when all existing tenancies must have these and if you don’t you just don’t want to play that game. Get in early and what we suggest is start getting them done now while you still can. And I think that’s important.   
If there isn’t any questions, I want to thank you very much. As always make sure you click the like button, subscribe. If you have any questions put them into that email and I am happy to answer them back with videos or if they are more specific in nature by all means speak to the team and they can actually go through and explain and answer whatever can give you that clarity. I want to thank you again and we’ll see you next week. Until next week, have a great day and live with passion. See you later bye guys. 


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