EPC changes offer good opportunities for landlords
In a bid to combat climate change and reduce pressure on strained energy supplies, the government has recently announced new proposals on EPC ratings. The changes will require landlords to increase the energy efficiency of their properties to a C or above.
Improvements must be made by 2025 for new tenancies, or 2028 for existing tenancies. As a recent survey showed, 68% of landlords currently own rentals with D or below EPC ratings, which means most will need to act soon to avoid problems down the line.*
While increasing the energy efficiency of your properties can be a costly exercise, it’s also an opportunity to raise the value of your rentals and reduce bills for tenants. This, in turn, will make your lets more attractive to tenants, especially at a time of rising energy prices.
In addition, landlords looking to expand their portfolios may consider buying less efficient homes to upgrade the EPC rating and turn over a profit. If you own a property rated C or above, now is a great time to think about letting it.
However you intend to respond to the upcoming changes, we’re happy to discuss your options going forward.
Contact our team to discuss this further, or to arrange a lettings valuation.