EPC Checks | Landlords
How to Protect & Future Proof Your Investment Property
NEW UPDATE! As the UK marches towards net zero emmissions by 2050, the energy efficiency of homes has come back into the spotlight. The goverment has now proposed that privately rented property “must be at least EPC Band C from 31st December 2028 where practical, cost-effective and affordable. Don't get caught out ↓
ARE YOU READY?
A minimum Rating of C or higher by DEC 2028.
The government has introduced the minimum energy performance of buildings bill to parliament. It proposes that privately rented property “must be at least EPC Band C from 31st December 2028 where practical, cost-effective and affordable. We don't yet know what "practical, cost-effective and affordable" will mean in practice. For homeowners the date is 2033 with exemptions.
Beat the EPC Checks
Now is the time to start looking at your property portfolio and getting ahead of the potential demand. As the likely deadline gets closer, the demand for tradesmen, suppliers and tenants (for cleaner and greener rental properties) is going to surge.
But getting ahead of the competition you can ensure your portfolio remains commercially viable.
Mortgage Lenders will also be required to average their portfolios by 2030 meaning mortgages for below C properties may become scarce.
DID YOU KNOW?
15% of Landlords are unaware of the changes
A recent study by Shawbrook Bank, found that 15% of landlords are unaware of the government's suggested plans to increase the minimum EPC rating from an E to a C.
In the same study, nearly 40% of landlords responded that they have properties that were built before 1940. This could provide a bigger challenge to meet the new minimum EPC Standards.
Why you should act now
With the stated net zero goals for the UK, these proposed changes to EPC Minimums are highly likely to be brought in. Landlords who fail to act now, run the risk of owning properties that are unrentable.
If this is repeated across the UK you would see a glut of properties entering the market, forcing down prices and even making some properties unsellable.
EARN HIGHER RENT
Greener, Cleaner Properties Rent for more.
By beating the market and taking action now, those energy-saving upgrades will make your property much more appealing to tenants looking to save money on energy bills as the cost of living crisis worsens.
In a recent survey by lettingaproperty.com, they found that 53% of tenants were willing to pay more rent for a greener property.
Don't know where to start?
Let's have a chat about your rental property and how to finance energy saving upgrades to meet EPC Rating C.
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