020 8444 5555 
Landlords Face Tough Choices as EPC Deadline Looms
A new survey reveals that most landlords are aware of upcoming Energy Performance Certificate (EPC) regulations, but many are unprepared. Over two-thirds of landlords own properties that don’t meet the new ‘C’ target, raising questions about how they will adapt. Will they invest in upgrades, pass the costs on to tenants, or simply sell up? Read on to discover the challenges and opportunities facing landlords in the face of these new rules…
Estimated reading time: 3 minutes
Last updated: Thursday 21st November 13:04
A recent survey by Foundation Home Loans has revealed that over two-thirds of private landlords own properties that fall short of the new Energy Performance Certificate (EPC) ‘C’ target. While awareness of the new standards is high, a significant number of landlords are still unclear on the details.
Key Findings:
- EPC Knowledge Gap: Although 92% of landlords are aware of the new EPC requirements, only 67% fully understand them. Portfolio landlords, those with four or more buy-to-let mortgages, show a slightly lower level of understanding.
- Improvement Plans: 42% of landlords plan to make the necessary upgrades to meet the EPC ‘C’ standard. However, a significant proportion (34%) intend to sell their non-compliant properties without making any improvements.
- Funding the Upgrades: Landlords plan to fund the upgrades through a variety of means, including savings, rent increases, grants, equity release, and loans.
Challenges and Opportunities
The survey highlights the challenges landlords face in meeting the new EPC requirements, including the costs involved and the need for clear guidance. It also underscores the role lenders and intermediaries can play in supporting landlords through green mortgage products and tailored advice.
The Bottom Line
The clock is ticking for landlords to ensure their properties meet the new EPC standards. Those who fail to comply risk facing penalties or being unable to let their properties. By taking proactive steps to understand the requirements and explore financing options, landlords can future-proof their investments and contribute to a more sustainable rental sector.
Check out this YouTube video on how to get an EPC rating of C:
Homes2let offers a property management service that reduces the landlord burden, with an added benefit…
As a landlord, you have enough to deal with without having deal with deposit claims. So why not hand over to a property management service, but one with a clear added benefit?
The homes2let guaranteed rent scheme guarantees rental payments, even when the property is untenanted, as well as taking all the hassle of property management off your shoulders too.
Interested to discover more? You are welcome to get in touch with our expert team to discover how we can make your life as a landlord more of a breeze.
Riz is the founder of homes2let and has been in real estate for over twenty years. He has a background in economics and is a real estate developer and buy to let investor.
Free, no obligation 15min call with Riz – Book Now
Related Insights
Landlords Encouraged to Seek Alternatives to High Rent Advance Demands
According to a Radio 5 podcast, increasing numbers of landlords are asking tenants with a poor credit score or lack of renting history to part with six months’ rent in advance. The situation has been made worse by the effects of the COVID-19 pandemic, with incomes hit hard. But the NRLA advises against demanding such high advances, suggesting that an alternative guaranteed rent solution is sought.
Updated Advice for Landlords on Right to Rent Checks 2022
Right to Rent checks are set to face reforms at the start of the new tax year on 6th April 2022, with 5th April marking the end of the COVID-related temporary adjustments which allowed checks to be carried out virtually. From 6th April onwards, there will be a new permanent online solution which will allow right to rent checks to continue to be carried out remotely, for all nationalities, and with enhanced security.
What the Delay to Making Tax Digital Means for Landlords
Originally due to be introduced in April 2023, HMRC Making Tax Digital for Income Tax has now been pushed back to April 2024. What this means for taxpayers and, in particular landlords, is the subject of this latest post.
