Following the announcement that landlords will be required to upgrade rental properties to an EPC rating of C or above by 2030 nearly a third are calling for financial support from the government according to new research from BTL lender Shawbrook.

Government cash

The research has found that 29% of landlords say that the targets set by the new Labour government will only be achievable with government support. Landlords already have some help if their properties are in poorer areas or have low-income tenants, including up to £30,000 for a single property and up to £15,000 for subsequently ones through the Warm Homes: Local Grant scheme.

With the costs of any improvements the key concern, a further 16% say they would struggle to afford the costs, and a quarter (25%) plan to sell any properties that require upgrades.

However, some landlords have already started to make investments in their properties prior to the new regulations being introduced.

22% said they have already made upgrades to their properties which are now rated C or above.

This must be achieved with the support from government and industry.”

Professional portfolio landlords are most likely to have made improvements.

A quarter of landlords with four or more properties in their portfolios have done so compared to 17% of landlords with 1-3 properties.

Overall, new EPC regulations have sparked significant worry amongst landlords, with over three-quarters (78%) saying they are a concern and a quarter of those feeling very concerned.

Emma Cox, MD of Real Estate at Shawbrook (main image, inset) comments: “Having a quality, energy-efficient, professional private rented sector is critical, particularly at a time when home-ownership and access to affordable housing remains challenging. But this must be achieved with the support from government and industry.”

Labour has also promised to upgrade the EPC system.