The Prime Minister scrapped the legislation that would have required landlords to ensure their rental properties had a minimum EPC rating of C.
The mooted deadline was 2025 for new tenancies, and by 2028 for all tenancies.
Now, a study by Shawbrook Bank using its internal data has found that 80% of landlords said they were already prepared for the 2025 EPC deadline.
Of the landlords surveyed, almost a third (30%) said their properties already have an EPC rating of A-C, while half (50%) said they had plans in place to improve their EPC rating before 2025.
Meanwhile, 17% said they were not prepared and had no plans to improve the EPC rating of their property. Just 3% said they had not heard of the regulation.
Nearly half (46%) of landlords have spent between £500-20,000 on improving or investing in their property in the last year, with the mean average amount landlords have spent being £25,148.
This average amount rises to £37,164 for London-based landlords.
A fifth (20%) said that cost of labour for property improvements was a key concern for their rental properties over the next six months, while 16% said EPC regulations were a concern.
When asked about previous rumours of the initial EPC regulation deadline moving to 2028, 31% said it would give them more breathing space to complete improvements across their portfolio, while 29% said they will progress with their improvement plans regardless.
Shawbrook managing director of real estate Emma Cox says: “Scrapping the impending EPC regulations might free up capital in the short term for landlords who haven’t yet invested in improving the energy rating of their properties. But while policies shift, climate change is going nowhere, and energy efficient buildings will remain central to net zero plans”.
She adds: “Rules might not be changing as soon as 2025, but professional landlords with modern, energy efficient stock will be in the best position to attract tenants, as well as reduce potential voids, and importantly, be prepared for future legislative change.”