By Buy-to-let portfolio landlords are more likely to be aware of the government’s proposed EPC requirements than non-portfolio landlords, according to new research by Landbay.
From 2025, all rental properties with new tenancies must have an EPC rating of at least C and for existing tenants, landlords must comply by 2028.
The survey found that 80% of buy-to-let portfolio landlords with 10 or more properties and 70% of those with four to 10 properties are aware of the government’s EPC requirements.
But only 54% of non-portfolio landlords with one to three properties knew about the proposals.
When asked about upgrading their property to reach the required minimum EPC rating of C, most landlords said they would wait until 2025 to carry out necessary work.
A third of larger landlords (35%) with 10 or more properties were willing to upgrade sooner but only 20% of smaller portfolio and non-portfolio landlords said the same.
Paul Brett, managing director, intermediaries at Landbay, said:
“It is not surprising that most professional landlords are aware of the EPC rating changes that are due to start in 2025.
Buy-to-let investment is their business and most are hands-on landlords.
However, awareness among smaller landlords is much lower and although they have another four years to make any upgrades to properties, they should really know what is coming down the line.
With an uptick in remortgaging due this year, brokers should take the opportunity to ask their landlord clients if they are aware of these new EPC rules.
Clients will appreciate their broker showing an interest in them beyond just the mortgage by demonstrating a wider knowledge of the buy-to-let market.”
This remains a proposal. Legislation has not been drafted, let alone passed by parliament. Whilst it seems likely to happen, nobody is going to do anything until such time as it becomes law.
I can’t see what difference our EPC can make to saving the Planet, when I see so much black smoke in Eastern Europe.