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.”
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Well I am not confused, I am just waiting for the details to decide the dates I then sell up. I see this coming in as proposed, therefore I am out !
This article is unbelievable, come off it how could a surprising number of Landlords be unaware of the changes on the horizon, when its been front headline with landlord & investor in recent years.
Simon, my friend no need to be confused and the waiting is nearly over, we have suffered so many sanctions in recent years and the time is near for the ultimate sanction which is getting very close removal of Section 21, when you loose all control of your property and loss of ownership, get the board ready or you may miss exit opportunity.
Was that a paid for advertisement?.
If the government want the minimum EPC to be a C. Why Do they keep us in the dark and not tell us what will improve our properties. All we need is a comprehensive list. Eg
A new boiler = xxx
Loft insulation = yyy
It can’t be that complicated surely.
Michael - What ever they bring in, in regards the section 21 abolition, one thing they have to allow is the sale of the property......... this is the only thing i will be doing, if the big ' C ' does not come in then i will not be evicting my excellent tenants, if it does then of course i will be.
Estate agents training to be EPC assessors.
Will their observational skills and attention to detail suddenly improve after doing a 2 day online course?
If the standard of sales details is anything to go by this is a very bad idea.
In the last few weeks I've viewed a property that was described as having a gas central heating system. It actually had an electric boiler.
Another one didn't mention heating at all and had an 8 year old EPC with a D rating mentioning night storage heaters. It actually had a recently installed gas central heating system.
My son is in the process of buying a house that was listed 4 months ago saying EPC coming soon. Turns out the estate agent still hasn't got round to it and it's now delaying the mortgage offer.
Now EPCs are a serious matter the standard of training EPC assessors receive needs to be massively upgraded. The last thing any of us need is even more unskilled people churning out factually inaccurate EPCs that potentially devalue our properties by tens of thousands of pounds or require us to spend thousands on often completely impractical upgrades purely because the assessor can't spot stuff we already have..
When I know the facts for certain I will decide my next move, I don't want to evict tenants or sell off properties but push me into a corner and that's what will happen, 16 properties to sell, 1 per year from 2028 will take me to 90 yrs of age so I don't need to worry about rent coming in when I'm getting the proceeds of a sale each year
I will be looking at the properties I have that are below a 'C' rating and decide what it is going to cost to bring them up to this level.
Unfortunately, one of these properties has a commercial property underneath which I also own. So I could be in the unenviable position of a maisonette above a business, which can't be let out.
I may then have to consider offloading the whole building and lose the commercial rent.
This whole EPC thing is going to turn out to be very stressful.
Anyway, at least I will have a few years to consider my position.
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