Holiday lets granted exemption from new EPC regs
Richard Bond of holiday lets agency Finest Retreats says, "This is the most significant policy win for the sector in years."
Holiday lets are to be exempt from new EPC regulations that could have required property owners to spend up to £15,000 making improvements.
Privately rented homes will have to meet a minimum EPC C standard by 2030, the Government confirmed this week as part of its Warm Homes Plan, but short-term rentals are not now included.
Each property will still have to secure a valid EPC certificate but without having to meet a certain level under the Minimum Energy Efficient Standard (MEES).
Meet the standard
The Government says that an average property will need between £6,100 and £6,800 worth of investment to meet the standard.
It is proposing that the higher standard would apply to new tenancies from 2028, and for all tenancies by 2030. But an ‘affordability exemption’ that lowers the cost cap to £10,000 for some properties is being consulted on.
Richard Bond, Owner of holiday lettings agency Finest Retreats (main picture), says: “This is the most significant policy win for the sector in years.
Today’s decision was swayed by 6,500 letters sent to MPs.”
“And this time, the Government listened thanks to an evidence-based approach. It also shows the power of owners working together along with lobbying from agents and trade bodies. Today’s decision was swayed by 6,500 letters sent to MPs.
“MEES would have been regulation for regulation’s sake, would have harmed local communities, requiring impossible upgrades to character properties while solving nothing,” he says.
“This victory shows the government can distinguish between sensible regulation and expensive compliance burdens that make no economic sense.”
Government finally publishes its much-anticipated Warm Homes Plan
