30 Mar 2023
Possible breakthroughs are circulating that may help to relieve the pressure on landlords and their minimum EPC requirements.
Government legislation demands properties must meet a minimum of band C by 2025. The fallout of this has been felt throughout the private rented sector (PRS), with landlords being left unsure of their future. Not meeting the required level will mean their properties are banned from being rented out. Unsure of how they will be able to afford the upgrades to their properties, landlords are considering selling up their portfolios. This mass exodus of landlords from the PRS will likely result in less availability of rental properties, thus driving up demand and costs for future renters. A lack of clarity on the dates, requirements and support with funding of the new requirements has also rocked the community, with many landlords asking for more information and support.
In the last few days, claims have come to light that could indicate that landlords will be given an additional three years to meet the minimum requirement, an extension from 2025 to 2028. The debate is still raging on, however, as to how landlords will be expected to fund the upgrades to their properties. Estimates on the costs for upgrades can range anywhere from £10,000 - £15,000, this could be more or less depending on the scope of work that is required. Bearing in mind that those estimates are likely to get a property to the new minimum requirement, that doesn't account for the plans to increase the minimum standard to band B in the (not too distant) future.
Talks are underway between ministers and stakeholders, but 'no decision has yet been made'. We have a vested interest in all matters that impact our clients, and we will be following this very closely to keep you updated with the most up-to-date information as it surfaces.
Getting your properties into shape to meet the minimum C requirement may feel like tomorrow's problem, but regardless of the deadline, it will need to happen. Don't get left behind, our skilled team are on hand to provide guidance and advice on the most cost-effective route to bringing your properties' EPC ratings to the compliant level.
We're here for you, give us a call on 01482 562 562 to discuss your EPC requirements 📞
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