Mortgage Advice Bureau’s (MAB’s) survey of 500 landlords revealed that only 30 per cent were confident that they would bring the EPC rating of their portfolio up to at least C by the proposed 2025 cut-off point for new tenancies, and 2028 for existing properties.
Landlords feel that improving the energy efficiency of their properties will not only be good for the environment but also attractive to renters. Some 31 per cent said the potentially lower energy bills would draw in tenants.
Renters are already enquiring about this, as 17 per cent of landlords said they have been asked if the property they are letting is energy efficient and 18 per cent have been asked about the home’s EPC rating.
Some 17 per cent have also been asked whether they will be installing heating controls, 16 per cent have been asked about fitting a smart meter and 15 per cent have been asked about getting double or triple glazing.
However, landlords are also cautious as 27 per cent said they were worried about the potential costs and a similar proportion said they had concerns over finding a trusted tradesperson. Some 23 per cent were worried about the disruption it would cause to tenants.
Landlords need support on EPCs
Ben Thompson, deputy CEO at Mortgage Advice Bureau, said: “Landlords seem to be working with a lot of information in terms of regulations and deadlines that aren’t quite set in stone, yet the 2025 countdown remains for EPC rating improvements. The good news is, many landlords are making progress, despite some challenges.
“There are some very clear and urgent motivations behind making this change. Tackling the ongoing climate crisis is at the forefront of many of our minds, and for landlords and the future of their portfolios, being able to help tenants navigate the economic climate of high energy bills is key.
“While many already have plans in place, concerns and an element of confusion remains. Exactly what landlords are working to, and by when, must be clarified as soon as possible, and this must be accompanied by support to help landlords improve EPC ratings.”
