Landlords Corner – EPC Changes Delayed: Positive News For Landlords
With so many legislative issues, it is difficult for landlords to stay on top of everything. This means changes which initially seemed far away creep up on landlords, taking letting industry professionals by surprise
While most landlords know the importance of Energy Performance Certificate (EPC) regulations, many needed to be made aware of the 2025 deadline for a rental property to have at least a C rating. With many UK rental properties requiring upgrades to reach that level, many landlords faced a challenging short-term future.
However, according to the Daily Telegraph, this change's new deadline is 2028. With industry sources suggesting fines for non-compliance with these regulations could reach £30,000, this change sees many landlords breathe a sigh of relief.
Change is still coming concerning energy efficiency, though, and from a business perspective, landlords should look to present the best possible rental accommodation they can.
Propertymark advised the Government to change the date
With a 2025 target date initially in place, many industry specialists believed this needed to be a more extended timeframe for most landlords to implement. This led to Propertymark and the NRLA lobbying the government to make changes.
Landlords will likely benefit from a maximum expenditure cap concerning EPC-related improvements, which should be £10,000.
What are the professionals saying?
At Trading Places, we stay in touch with industry professionals and trusted sources, and there is consensus that while the delay is a positive thing for the market right now, it isn’t a cause for a grand celebration.
It also doesn’t change the fact that there is significant demand for rental property, which needs more landlords operating in the market.
Tom Goodman, MD at tenant referencing service Vouch, says: “The last thing the sector needs is another push factor encouraging landlords to sell-up – there is already too tight a squeeze on rental stock. What we need now is a balanced and supportive approach from the Government on next steps, so that landlords are incentivised to make these upgrades and can afford them.”
If you want to expand your rental property portfolio or enter the market, we can help. We provide support and guidance on various topics, including managing EPC requirements.
Rik Smith, head of tenancy services at rent guarantee platform Goodlord, says: “I’m sure the market will welcome the proposed extended deadline to get properties up to standard, but there’s an enormous amount to do before then. Landlords across the market are already feeling pressure on many fronts, including rising mortgage rates, so we don’t want a lack of required infrastructure or not fit-for-purpose guidelines to lead them into leaving the sector.”
This comment from Rik Smith makes for essential reading. While the delay is good news for landlords, it doesn’t mean landlords should relax and put their feet up. If you are yet to adequately deal with the Energy Performance Certificate requirements for your rental accommodation, you must act sooner rather than later.
We are always here to help
Many landlords struggle with paperwork, and staying on top of legislation, but we are here to assist you, ensuring your tenants receive everything they need in your rental property. if you are looking for guidance on the Leytonstone rental market, or you just want a helping hand in complying with rental market regulations, we are always here to assist you.
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