34 per cent think that improving the Energy Performance Certificate ratings of their properties will have a net benefit to the carbon emissions goals of UK
The latest research from Mortgage Advice Bureau (MAB) has found that 41 per cent of landlords believe that, outside of legal commitments, new Energy Performance Certificate (EPC) requisites are necessary for the environment and will help the UK to tackle the climate change crisis.
An additional 34 per cent think that improving the Energy Performance Certificate ratings of their properties will have a net benefit to the carbon emissions goals of UK.
Under the suggested changes, rental properties will require an Energy Performance Certificate rating of at least C by 2028, with a previous deadline of 2025 for new tenancies. Whilst 30 per cent are sure they will reach the deadline with ease, 46 per cent acknowledged it will be by the skin of their teeth as they retrofit properties.
Alongside landlords’ own aspiration to lessen their properties’ effect on the environment, tenant demand is also a crucial factor. 31 per cent of landlords think the enhancements will make their properties more appealing by reducing tenants’ bills.
17 per cent of landlords have been asked if the property they are letting is energy efficient, and 16 per cent have been asked especially about the EPC rating.
Nevertheless, the push towards more energy-efficient properties has its own share of concerns. The costs of making all the required improvements (27 per cent) and finding a trusted tradesperson (27 per cent) are both crucial concerns for landlords, apart from the disruption it may cause tenants (23 per cent).
Ben Thompson, Deputy Chief Executive Officer at MAB, stated: Landlords appear to be working with a lot of information in terms of regulations and deadlines that are not quite set in stone, yet the 2025 countdown remains for Energy Performance Certificate rating enhancements. The good news is, many landlords are making headway in spite of some challenges.
There are some very clear and urgent motivations behind making this change. Managing the continuing climate crisis is at the forefront of many of our minds, and for landlords and the future of their portfolios, being able to assist tenants navigate the economic climate of high energy bills is crucial, Thompson said.
He said that while many already have plans in place, concerns and uncertainties remain. Exactly what landlords are working to, and by when must be explained at the earliest, and this must be accompanied by support to help landlords enhance EPC ratings.