As we all know, all rental properties must have an EPC rating of ‘E’ or above (some exemptions apply), however, there are major changes currently under consultation and expected to be passed.
What are the suggested changes?
From 2025, all newly rented accommodation will need to have a minimum C EPC rating. Existing tenancies will have until 2028 to comply.
How will this impact the industry?
According to recent survey, almost 60% of properties in the UK have a D rating or lower. This means that many landlords will need to consider upgrading their properties in order to comply and continue renting at potentially a considerable cost.
What work will need to be undertaken?
All EPC’s will have a section covering recommended improvement work, the expected cost and potential rating after the work is carried out. This may include upgrading internal/external insulation, fitting solar panels, windows, heating and lighting improvements.
The concern is not only the short timescales proposed but also the expected cost of the works that could well be into the 1000s, dependant on what needs doing. Currently, the cost for EPC improvements for landlords is capped at £3,500. However, this cap will likely be raised to £10,000 for the new EPC minimum
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