A recent survey conducted by Landbay has shed light on the varying sentiments among landlords following the Government’s decision to discard the proposal mandating all rental properties to achieve a minimum Energy Performance Certificate (EPC) rating of C by 2028.
According to the findings, a significant 74% of landlords have welcomed this reversal, viewing it as a reprieve from the impending obligation. However, despite the abandonment of the legal requirement, the survey reveals that a substantial portion of landlords remain committed to enhancing their properties’ energy efficiency.
Reportedly, 62% of landlords possessing properties with lower EPC ratings expressed intentions to upgrade to a C rating. Among them, 42% specified a future timeline for changes, while 20% indicated immediate plans for upgrades. Contrastingly, a quarter of landlords (25%) plan to act solely upon future legislative demands, while 13% have no intention to make any alterations.
Comparatively, prior to the annulment of the EPC minimum requirement, a higher proportion (73%) of landlords had articulated their intent to elevate their properties to a C rating. Of this group, 39% planned upgrades closer to the previously suggested 2028 deadline, while 34% aimed for earlier improvements.
The primary impediment identified by landlords for retrofitting older properties to meet the EPC C standard is the perceived expense and complexity of the process.
Interestingly, a quarter of landlords (26%) expressed dissent regarding the elimination of the EPC minimum requirements. They contended that landlords have a societal and environmental responsibility to ensure energy-efficient housing and, thus, should actively improve their property ratings.
Rob Stanton, Landbay’s business development director, lauded the objective of enhancing energy efficiency in buildings while emphasizing the need for pragmatism. Stanton highlighted the considerable challenge posed by retrofitting aging housing stock, citing its difficulty and costliness. He further echoed sentiments expressed by landlords, suggesting that increased government support, such as easier access to grants, could incentivize more landlords to upgrade their properties.
Stanton underscored that over half of rental properties in the UK currently fall below a D rating or lower, emphasizing that landlords now have a grace period to strategize without the pressure of an imminent deadline.