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.
You can get in touch with Riz via riz@homes-2let.com.
Related Insights
What are Tenants’ Responsibilities for Repairs in a Rental Property?
In the private rented sector, landlords are required to keep their buy to let property well-maintained and in a good state of home repair. On the other side of the coin, tenants must ensure they act in a ‘tenant-like manner’, avoiding causing any damage to the property other than that which can be considered ‘fair wear and tear’. Wondering what tenants’ responsibilities for repairs are? Read on to find out.
What Happens When the Croydon Selective Licensing Expires in October 2020?
The current selective licensing scheme that applies to privately rented properties in Croydon is set to come to an end on 30 September 2020. The question for landlords Croydon wide is, what happens next?
Is Landlord and Tenant Mediation to Become Mandatory During Evictions?
A report published last month centring on whether people involved in litigation should be forced to take part in alternative dispute resolution (ADR) such as mediation, could potentially have considerable consequences for possession cases involving landlords and tenants.
