A recent survey listed environmental friendliness and energy efficiency among their top considerations when purchasing new properties. This means a shift in attitudes, with more customers wanting greener homes. And the government is about to force landlords to up their game.
As of April 2020, all buy-to-let properties needed an energy performance certificate rating of E. The government is considering raising that requirement to a rating of C, from 2025 for new tenancies and from 2028 for current renters.
For landlords with older homes, that’s a headache. Some are part of huge organisations like the big housing associations. Others are private individuals with a property or two to let out. Some of them complain they will struggle to afford the upgrades or even sell up entirely.
It’s also an opportunity. There is a sudden pressure to improve standards across millions of homes - more than four million households live in rental properties in England alone. It’s true the EPC C rating is not a very high bar to beat. Many houses and flats will hit that standard already. But the rule change would mean billions of pounds of investment in our rental homes.