Many landlords have spent thousands of pounds on energy efficient upgrades in readiness to meet regulations that have now been ditched by Rishi Sunak.
lettingaproperty.com reports that while some increased loft insulation and upgraded eclectics in their rental properties, others went further by replacing gas boilers, installing air source heat pumps, and even adding solar panels.
The government had planned to introduce energy efficiency targets of an EPC band C for private landlords in England and Wales, by 2028.
The rental platform’s founder and CEO, Jonathan Daines (main picture), says that while welcome news for some, the government’s U-turn is frustrating for its landlord clients, many of whom had already taken steps to do the right thing in preparation for change.
“With the planned EPC changes looming, many landlords in our community proactively improved the energy efficiency of their properties,” he adds. “They incurred significant costs and practical hassles, to make energy efficiency upgrades in line with proposed EPC minimums.”
However, Daines tells LandlordZONE that although it obviously spurred many landlords into action, he doesn’t believe many acted solely to comply with regulations.
“We work with many responsible and ethical landlords, who are also committed to providing the best accommodation standard they can, to encourage tenant loyalty and long-term letting,” he says.
And Daines doesn’t believe any upgrades will directly impact rents. “In many cases, accommodation has been improved, not just in terms of energy efficiency but also liveability and comfort for tenants. We advise our landlords if we believe changes to the property or market conditions warrant an increase but ultimately, it’s their decision.”
He believes it’s imperative that policymakers provide clarity and consistency in their approach to rental property regulations.
“The government’s wavering stance has ultimately betrayed landlords and tenants, while negatively impacting businesses who rely on a stable and thriving rental market.”