Landlords taking steps to up their EPC game
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Landlords taking steps to up their EPC game
Research has found that some landlords are improving the energy performance of their properties even though it is no longer a potential legal requirement.
Keen landlords
Last year proposed regulations for all private rental properties to have a minimum EPC rating of C were shelved. However, 37% of portfolio landlords are still upgrading their properties to meet that standard1. In fact, nearly a third (32%) only own properties with a minimum rating of C.
What’s the timescale?
About 28% of landlords going ahead with work expect all their properties to have an EPC rating of C within one to two years. On the other hand, 17% think it could take them at least five years.
Not all enthusiasts
Some landlords were not so keen on making improvements, with 16% postponing work until legislation is potentially introduced. One in 10 said that the proposed regulations had no effect on their portfolio strategy.
The advantages
Regardless of whether it’s a legal requirement, there are many benefits to upgrading the EPC rating of a property. By improving the energy efficiency, the running costs of the property are reduced and the property’s value is likely to increase.
1Paragon Bank, 2024
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments
It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.
Information is based on our understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.
Tax treatment is based on individual circumstances and may be subject to change in the future.
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