According to research from Landbay, these landlords say they will wait until nearer 2030, when all rental properties must have an EPC rating of C or higher, to undergo improvement works.
Only 18% said they would embark on upgrades as soon as possible and 6% said they won’t make any changes at all, although they still plan to continue renting.
Over a third of landlords surveyed said they had an EPC C rating or lower and half had properties above an EPC C rating.
Landlords with 11-20 properties had the most properties rated between D and G at 36%, followed by landlords with 4-10 properties at 27%.
Rob Stanton, sales and distribution director at Landbay, said: “It’s encouraging that half of our landlords have properties at C rating or above. But those landlords who don’t, and who are putting off upgrading their properties, need to be careful. Kicking the can down the road may mean that, with a national skilled worker shortage, landlords risk not getting the work done in time. They may face significant fines as a consequence.
How the housing landscape is set to shift
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“As a buy-to-let lender, we are here to help should landlords need extra financing for upgrade work. Demand for decent rental properties already continues to outstrip supply, with many tenants ready and willing to rent across the country. We remain committed to doing our bit to help, innovating to meet the needs of landlords.”
