Nearly two-thirds of private rental properties won't reach proposed minimum EPC levels, according to new research.
Data compiled for property data platform LandTech shows that 64% of private rental properties would fail to reach an EPC rating of C or above in advance of government rules covering new contracts likely to come in by the end of 2025.
Wales takes the dubious honour of having the highest number of non-compliant D-G rated properties (70%), followed by the West Midlands (69%) and Yorkshire Humber (68%) and East Midlands (68%).
Properties in London came out top with 60%. Overall, the number of private rented properties with the lowest G rating was 45,378 - probably because rental stock is typically older.
LandTech co-founder Jonny Britton (pictured,below) is hopeful that landlords will upgrade their properties to comply with new legislation, particularly in the current economic climate where house prices are forecast to fall over the next year and with demand for rental properties set to increase as potential buyers hold off buying a property until interest rates and house prices settle.
He tells LandlordZONE: 'Some upgrades may not be that expensive, for example, upgrading from a D to a C and there's also the argument that a better rated property could command a higher rent, therefore offsetting the cost of the EPC upgrade to the landlord over time.'�
Earlier this month, research from Shawbrook Bank found that while 78% of landlords have now heard about government proposals, many confess to not knowing much about them and 31% cite the lack of information as a barrier to improving their properties' EPC rating.
Tags:
Comments