According to new research from Mortgage Advice Bureau, 41% of landlords believe that new EPC requirements are important for the environment and will help the UK tackle the climate change crisis.
According to new research from Mortgage Advice Bureau, 41% of landlords believe that new EPC requirements are important for the environment and will help the UK tackle the climate change crisis.
The report, which collated responses from 501 landlords, found that a further 34% agreed that upgrading their properties’ EPC ratings will have a net benefit to the UK’s carbon emissions targets.
In addition, 31% of landlords are confident the upgrades will make their properties more attractive by lowering tenants’ bills.
However, the costs of making all the necessary improvements and finding a trusted tradesperson are both key concerns for landlords, alongside the disruption it may cause tenants.
Residential landlords are awaiting confirmation of proposed reforms to the Minimum Energy Efficiency Standard (MEES) regulation and, under the proposed changes, rental properties will need an EPC rating of at least C by 2028, with an earlier deadline of 2025 for new tenancies.
While 30% of landlords are positive they will reach the deadline with ease, a hefty 46% admitted it will be a challenge to retrofit in time.
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.
“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.
“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.”