The Financial Times have run an article this weekend entitled ‘What the energy efficiency drive means for UK property rentals’
It can be seen here (subscription might be required) and discusses the problem of landlords who’s properties don’t meet the possible new EPC standards. Note that to date the new standards have not been announced, we are lead to believe that there has been a change in Civil Servants on this project – see our campaign on this.
It discusses the problem many landlords face who are either unable to meet the new (expected) requirements, or where it’s not worth doing.
Note that the article states that landlords must ‘ensure homes for rent reach level C or higher for all new or renewed tenancies by 2025 and by 2028 for all existing tenancies. The government has yet to respond to a consultation on the matter, which closed in January 2021.’ Note that this has not yet been confirmed, but is likely.
Another statement is ‘Richard Donnell, research director at Zoopla, says: “What’s really being flushed out by all this regulation is the housing that’s not suitable for renting, which is effectively going back into the owner-occupier market. You can see the trend from investor landlords selling up in growing numbers. At the moment it’s not being caused by EPCs, but it’s bound to be a contributing factor.”
The common view is that Government is striving for more home ownership, and less landlords. In fact, the recent White Paper has an underlying theme of encouraging this very trend.