[ad_1]
Speculation is growing that the deadline for landlords to meet new minimum energy efficiency standards for new tenants will be extended.
According to The Telegraph, “It is now clear that the deadline will be set in 2028 and will apply to all rental properties.”
In late 2021, the government held consultations to tighten rules requiring landlords to ensure all their properties have a minimum Energy Performance Certificate (EPC) rating of C rather than the current E rating.
Under initial carbon reduction proposals, this will apply from April 2025 for new leases and from April 2028 for existing leases.
There have been few updates since consultations ended two years ago, but the 2025 date is now expected to be dropped, giving all landlords through 2028 the opportunity to upgrade their ratings where needed.
Up to two million landlords could face the need to upgrade their EPC rating after implementation, according to The Telegraph.
Although there is a lot of talk in the industry about the postponement, amid concerns from landlords about meeting deadlines and the cost of improvements, this has yet to be confirmed. It is believed that the news could be officially released as part of the launch of updated zero-emissions plans on “Energy Security Day” on March 30th.
A study by the Mortgage Advice Bureau found that two-thirds of landlords were considering “selling” instead of upgrading due to the costs associated with upgrading an EPC from C to E.
MAB Deputy General Manager Ben Thompson comments: “Landlords, like everyone else, are under enormous economic pressure due to the rising cost of living combined with higher interest rates. Delaying the deadline is a sensible and welcome move, but unless clear aid is made public to cover the cost of the upgrade, we could find ourselves in the same situation in a few years, which won’t help anyone.
“Of course, this unfortunately means that tenants will continue to struggle with higher electricity bills, and so despite the rent, it is vital that the government now sticks to these revised dates and that the dates are not easily pushed back. “.
Goodlord’s head of leasing Rick Smith says: “I’m sure the market will welcome the proposed expansion to bring the property up to standard, but there’s a lot of work to be done before that.
“Landlords across the market are already under pressure on many fronts, including rising mortgage rates, so we don’t want a lack of necessary infrastructure or a lack of targeted requirements to force them out of the sector.”
And Vooch Managing Director Tom Goodman adds: “With all the rules of the market, it is vital to balance long-term and short-term considerations. The last thing the sector needs is another push to sell off landlords – already too tight rental funds. What we need now is a balanced and supportive government approach to the next steps to keep landlords motivated and able to afford these upgrades.”
[ad_2]
