No less than 62% of landlords do not know that they need an Energy Performance Certificate (EPC) and many do not realize that their property must have a C -rating by 2030.
There are now concerns about the fact that so many landlords are not aware of their legal obligation to have an EPC and this has evoked the fear that it could hinder the government’s efforts to improve energy efficiency.
From a recent study among 1,000 landlords by Buy-to-Let mortgage provider, the MortGage Works, only one in three revealed that their EPC should have a rating of C or higher in 2030. Three quarters did not know the date on which these rules would be maintained.
EPCs are documents that show how energy efficient your house is. Houses are assessed and then get a rating from A to G – one is the most energy -efficient.
Homes owners need an EPC to sell their property, but landlords must have a legally before they bring their property to the market for rent.
The requirement by 2030 to have an A to C energy efficiency, however, has made some landlords and the survey discovered 28% of Landlords were planning to sell their houses As a solution for incoming changes.
Indeed, almost two-thirds were not sure how much money it would cost to bring their properties to EPC-C rating standard. In the meantime, more than one in five (21%) believed that they would have to spend on average up to £ 6,632, depending on the current value of the property.
Many are also concerned that the works have a financial impact on tenants, saying more than a third to increase rent to cover the costs. Some landlords said that the disruption of the works could cause that they have to pay compensation to tenants.
17% said they should turn off tenants to complete the work.
Dan Clinton, head of buying to leave the mortgage work, said: “Changes in the minimal energy efficiency standards have been discussed for some time, but our research shows a limited awareness of the landlord, with some looking for the market.
“Policy makers must recognize the vital role that landlords play in supporting economic growth through labor mobility and to offer houses with a low income.
“Improving the energy efficiency of private rented houses is important, but the considerable logistical and financial challenges of upgrading 2.5 million properties must be recognized. The right balance between environmental progress and home stability is crucial.
“To protect continuous investments and to protect tenants at higher rental prices or reduced delivery, landlords need clear guidance, sufficient support and sufficient time to make their property greener.”