Chancellor’s rental property ‘to be illegal in three years’
Under her Government's own proposals Rachel Reeve's rental home in Dulwich, London will not have the correct EPC to be rented out.
The Chancellor Rachel Reeves is under the spotlight again after it emerged that her rental property in London has an EPC band D certificate, which under her colleague Ed Milliband’s proposed new EPC regime, will be illegal to rent out in three years.
His Department for Energy Security and Net Zero is currently analysing responses to its recent consultation on reforming how EPCs are measured and a new minimum band requirement of a ‘C’ for all rented homes in England and Wales by 2030.
It wants to make all landlords upgrade their properties to this minimum level to meet both its fuel poverty and net zero aims at a cost estimated of between £18 billion and £20 billion.
But Reeves, who currently rents out her four-bedroom family home in Dulwich, SE London while living in No.11 Downing Street, will join the ranks of landlords who must spend considerable sums upgrading their homes, expenditure which is to be capped at £15,000. She got into hot water recently after her letting agent omitted to get a licence for the property.
The EPC for the property, which The Daily Telegraph has tracked down for the property, which is on a private estate of ‘Scandi’ style houses, shows Reeves will need to spend up to £7,550 to get her home to an EPC band C.
Her looming bill highlights the huge task ahead for both landlords and the letting agents who manage them – some 52% of rental properties in England and Wales are currently under a Band C – with many requiring substantial building works to achieve it.
Abandoned
Milliband recently said: “For years tenants have been abandoned and forgotten as opportunities to deliver warm homes and lower energy bills have been disregarded and ignored.
“As part of our Plan for Change, these new changes could save renters £240 a year by raising the efficiency of homes to cut the cost of bills.
“These plans will also make sure that all private landlords are investing in their properties, building on the good work of many to upgrade their homes to Energy Performance Certificate C or higher already.”
True to form Ed Miliband proving that we kept the wrong Miliband brother.
He is wrecking the employment prospects of our tenants by keeping energy prices high.
If he was serious about reducing carbon emissions why not every home? Why just landlords?
The UK is responsible for 1% of global greenhouse gas emissions.
Only 20% of houses are privately rented.
So “red Ed” will cut world greenhouse gas emissions by less than 0.2% by ill treating landlords (including his boss Kier Starmer & Rachel Reeves) and and in turn, tenants.
No virtue signals here.
Can I suggest he joins his brother in the USA and see how far gets.
Mr Milliband is so far out of touch it is frightening. 1) Tenants will not save £240 pa the rents will go up to pay for improvements that is common business sense. 2) Tenants never seem to ask about EPC ratings round here they are just trying to find a home. 3) Landlords are sick to death of being held up as the devil incarnate and are leaving meaning fewer properties for tenants all because of his policies. 4) Fewer houses than ever seem to being built and there is not enough social housing to replace those leaving the private sector.
I am all for a good standard of homes but if there were more properties available tenants would have a free choice and always chose the best they can afford that alone will encourage landlords to invest in the property.
Sadly tenants will be the losers here.