A survey suggests that landlords want to improve the energy efficiency of their properties as soon as possible - despite a government U-turn on the subject.
Buy to let lender Landbay claims that its study of landlords shows that those with properties with an EPC rating of D or below plan to make changes to reach at least a C, with many aiming to do this as soon as possible.
The findings from Landbay’s quarterly survey found that almost two thirds of landlords (65 per cernt) have properties rated D, E, F or G. However, 34 per cent plan to make improvements to reach C as soon as they can.
More than a third (39 per cent) shared the same intention, but planned to wait until nearer 2028 and the government’s current official deadline.
This contrasts with a previous survey conducted by Landbay in summer 2022 when it was less than a third that planned more immediate action to increase EPC ratings.
Landbay says awareness of the government’s official proposal has remained consistent, with 78 per cent of landlords aware of the plans in the latest survey.
It was under two weeks ago that Housing Secretary Michael Gove pledged to publish a revised timetables for the implementation of further energy efficiency targets for the private rental sector.
Gove claimed in a newspaper interview that the official timetable for EPC targets for landlords should be relaxed.
The Housing Secretary said in the article that his government was “asking too much too quickly” of landlords, after proposing a deadline of 2028 for new EPC regulations.
A month ago a separate Landbay survey appeared to suggest that over 40 per cent of landlords wanted to expand their portfolios in the next year - at a time when other studies of the private rental sector showed large numbers of landlords either exiting completely or selling at least some of their investment.
The July survey claimed 41 per cent of landlords planned to buy more property in the next year with one of the biggest justifications being high tenant demand. A third of respondents said a potential drop in house prices was also a reason.
Paul Brett, Landbay’s managing director intermediaries, says of his company’s latest survey: “It’s very encouraging to see the majority of landlords with lower rated properties planning to make improvements, especially the strong proportion pledging to as soon as they can. If Gove does get his way, it will be interesting to see how these results change – if at all.”
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Then they'll move the goalposts and attaining a C in 2025-30 will be impossible so they'll tax / fine you into oblivion
All over what's basically a scam
😂😂😂 This is so funny, desperate they say…. Yes, to sell 💰💰
Why would anyone want to improve the score they get on a meaningless measure, except to guarantee being able to rent? I put a HHHSH in a property recently. Cost £1000. Will it make the house warmer or cheaper to run? I don't know, probably not. Did it get me 14 EPC points & an EPC C? Yes - so I can rent for 10 years. Who is paying? The new tenant with a hefty rent rise over the old one. Will pay the cost back in 1 yr. Is this what the Govt wants?
What's a HHHSH?
After loosing her job, A tenant of mine had 2 of these fitted in her flat for free, she was cold all winter, I gave her 2 plug in heaters, these new storage heaters are hopeless
HHR - high heat retention
SH - storage heater
?
Ellie is correct - High Heat Retention Storage Heater. These are the only electric heaters that score reasonably well on EPCs (not as good as gas of course!) Apparently is is a big scam by Dimplex who managed to persuade the powers that be that THEIR storage heater was the only one that was worth having. It is 'Lot 20' compliant -some EU regulation - & it got me 14 points on an EPC when I previously had a Farho radiator. The fact that all the tenants electricity for daytime use for the whole year is more expensive seems lost when those magic words Economy 7 are uttered!
I've seen several highly improbable survey results from Landbay now on here. I think they are just generating headlines for themselves. No one wants to upgrade until the goal posts have been fixed. Even then they keep moving...
I've seen this for commercial buildings with regard to EPCs on a reputable website (BDC).
They're being made over time to achieve a 'B' rating by 2030, but non-Govt. help appears to be available based on future savings (so presumably there will be some).
A report entitled Urgent Upgrade, highlights the serious financial impact of recent legislation which demands that commercial buildings have an EPC (Energy Performance Certificate) rating of at least E to continue to be let. This equates to £93 billion worth of commercial properties in Great Britain including across industry (£25 bn), offices (£28 bn), and retail (£31 bn).
This is only the first in a staggered approach by the UK government to achieve its net zero goals, with plans to raise the threshold to a C rating by 2027 and to a B by 2030 adding further future pressure to buildings owners and facilities management.
As the research makes clear, without immediate investment owners of F- & G-rated buildings will be left without income and face the possibility of significant fines as well as reputational damage. This means energy efficiency improvements are now a top priority.
To meet this demand and make building conversion affordable, specialist financiers are now offering financing packages which use future energy savings to finance building technology upgrades – covering condensing boilers, solar panels, heating ventilation and air-conditioning (HVAC), insulation, smart buildings controls, and any other technology required to upgrade a building to much higher energy-efficiency levels. These financing schemes allow buildings managers to achieve a strategic upgrade at low- or even zero-net-cost.
😂 😂 😂 😂 😂 😂 😂 😂 😂 😂 😂 😂 😂 😂
How about asking the tenants/occupiers what they want? Simple question " would you like to have a more efficient property?" If yes, then tenants/occupiers pay, if not they are left alone
I can see a problem there Jeremy, the tenant that says yes, pays the increased rent but no reduction in energy bills won't be happy, which of course is what will happen
Jeremy, increasing the EPC is not the same as increasing the energy efficiency!
Sell up Government, Leftie Shelter will screw you. Gove hasn'nt a clue. Average EPC for country is a Band D. Will cost most of you more to upgrade than what you get back. PRS is stuffed Get out whilst you can before they all sgaft you
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