Landlords need 18 YEARS to meet EPC standards warns Hamptons
The estate agency says that it will take until 2042 at the current rate for all rental properties to achieve the Government's minimum standard of EPC rating C.
It will take another 18 years for landlords to meet EPC rating standards for rental properties, according to a leading estate agency.
If work on upgrading rented homes continues at the current rate, Hamptons says, then it will not be completed until 2042.
Pressure is on
Miatta Fahnbulleh, Minister for Energy Security and Net Zero, confirmed this week that the Government will bring in a requirement for rental properties to attain a minimum C grade by 2030.
The Tories had previously shelved their plans for the requirement believing it would be too costly for landlords, especially for those upgrading older Victorian properties
But now the pressure is on again for landlords to become compliant with the rules within six years.
Higher band
So far this year, 39% of EPCs carried out on rental homes have seen the property move into a higher band, Hamptons says.
But to meet the proposed 2030 target, around 340,000 rental homes every year will need to make improvements to achieve at least a C rating.
Around 115,000 homes will make sufficient improvements to achieve a C rating in 2024.
Successive changes to proposed energy efficiency rules have shifted the goalposts for landlords.”
Aneisha Beveridge, Head of Research at Hamptons, says: “Successive changes to proposed energy efficiency rules have shifted the goalposts for landlords, some of whom face costs which can run into tens of thousands of pounds.
“Despite this, many investors have continued to improve the energy efficiency of their rental homes and we’re currently on track to see 100% of rental homes where an EPC A-C is viable, reach that rating within a generation,” she says.
“To meet the government’s 2030 target, the same number of homes will need to see energy upgrades over the next five years as we’ve seen make improvements in the last 30 years.”
Just like the Tories, an election stands between the target of 2030.
Think of the homelessness this could cause in the run up to an election.
The EPC system is 15 years out of date demanding the fitting of storage heaters to electric only houses.
I own two newbuild houses that are “D” rated.
It may be better to sell them into the open market where this mean and spiteful rule does not apply.
Making all houses a C rating would be fairer, but the turkeys do not want to vote for an early Christmas.