Proposals to make rental properties greener by enforcing a minimum energy performance certificate rating of C, is causing widespread confusion throughout the industry, claims estate agency HOP.
The government is considering making the C rating the minimum requirement for all new tenancies by 2025, and for all existing tenancies by 2028, in England and Wales.
The changes are now part of the Minimum Energy Performance of Buildings Bill, which is currently going through parliament.
As a result, HOP – which manages a vast portfolio of residential properties, aimed at both the professional and student markets throughout Leeds – is currently advising landlords to seek expert advice and carefully consider the EPC when considering new investments.
Luke Gidney, managing director at HOP, explains: “A surprising number of new and existing landlords are unaware that these changes are on the horizon. Some agents avoid mentioning it in order to secure a sale, but we work hard to make sure that investors fully understand what they’re buying.
“We’re already advising a number of landlords on steps to improve their ratings and have decided to launch a comprehensive EPC Consultation Service to help navigate the proposed changes.
“Several members of our team are training to be official EPC assessors, so we can provide tailored and strategic advice on the best ways to improve a property’s energy performance.
“It’s also important to remember that the Minimum Energy Performance of Buildings Bill still has a long way to go before it becomes law, and it could still be thrown out, and this is part of the reason why there’s so much uncertainty and confusion around it.
“In many cases, turning a property into a C rated home could be as simple as improving the insulation or installing a more efficient boiler, but in some older properties it could require significant investment and work.
“It’s therefore important that anyone investing in property now, as well as existing landlords, fully understand the EPC rating that’s put in front of them and seek professional advice.”