Landlords with low EPC-rated homes put off upgrades: Landbay  

Landlords With Low Epc Rated Homes Put Off Upgrades: Landbay   - Surveyors UK
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Over half of landlords with properties below an energy performance certificate rating of  C are delaying work to “bring their properties up to scratch”, a Landbay survey finds.

The buy-to-let lender’s study says 58% of landlords with properties currently rated below a C will wait until nearer 2030 to do the work, with only 18% saying they would carry out upgrades “as soon as possible”.

It adds that 6% of owners do not plan to make any changes at all even though they intend to continue renting.

All private and social rented homes will have to meet an energy performance certificate rating of C by 2030, according to proposals set out by the Department for Energy Security and Net Zero last September.

An energy performance certificate rating of C is regarded as the acceptable green standard. Ratings range on a sliding scale from A to G.

Landbay’s survey shows that 35% of landlords said their properties fell below C, with half being above C.

One landlord told the lender: “I think the energy performance certificate ratings are somewhat unrealistic for most given that the council themselves also have properties in need of upgrades.”

The study also showed that those landlords who had between 11 to 20 properties had the most properties rated between D to G at 36%. These were followed by landlords who had between four to 10 properties, at 27%.

It adds that just over 5% of landlords did not know what their energy performance certificate rating was.

Landbay sales and distribution director Rob Stanton says: “It’s encouraging that half of our landlords have properties at C rating or above.

“But those landlords who don’t, and who are putting off upgrading their properties, need to be careful.

“Kicking the can down the road may mean that, with a national skilled worker shortage, landlords risk not getting the work done in time, They may face significant fines as a consequence.”

Last September’s decision by Department for Energy Security and Net Zero secretary Ed Miliband reserved moves by the previous government.

The Conservative administration had planned to force private landlords to upgrade rented homes to an energy performance certificate rating of C by 2030.

But this target, along with a host of other green measures, were scrapped by former Prime Minister Rishi Sunak in September 2023, citing cost of living pressures.

Landbay surveyed around 1,300 landlords in its database in November.

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Author: Mortgage Finance Gazette

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