Jan
24

Are landlords prepared for minimum energy efficiency standards?

A quarter of landlords have “little to no” knowledge of the minimum energy efficiency changes proposed for 2028 under the government’s Net Zero Strategy: Build Back Greener policy. According to this article in Mortgage Strategy, this means they could risk their property let being prohibited if they don’t meet the requirements. The survey, led by Shawbrook Bank, found that over a third of landlords reported that their rental properties were built before 1940, meaning it’s highly likely that most of these landlords may need to invest over £6000 -  the average amount estimated needed to get an existing EPC D rating up to a C rating. Half of the landlords who will need to complete upgrades have considered selling. Shawbrook Bank sales director Emma Cox said: “…As well as these risks to landlords, renters may also be put in an even worse position as they compete for a smaller number of properties that are rated C or above after the 2025 deadline.” This Rent4Sure article highlights those 3.2 million properties in the private rented sector that will require improvements and highlights the difficulty that may be faced by some older Victorian and other E rated properties being able to achieve the C rating without significant levels of investment.