If you are a landlord, now is the time to take-action, or risk fines of up to £30,000.
By 2028, all rental properties must have an EPC rating band of C. This is a significant jump from the current required E rating and is expected to have a significant impact on landlords. In fact, it is estimated that private landlords could face a combined bill of £17.9 billion to upgrade their properties before 2028.
With many landlords owning multiple properties, the cost of upgrades may be a serious concern. Landlords who fail to take-action may not only risk heavy fines, but also face challenges in finding tenants for their non-compliant properties.
Why are the EPC requirements changing?
In simple terms, the regulations are changing to address the alarming issue of energy inefficiency.
Following research, it has been found that nearly 60% of homes in the private rental sector have an EPC rating of D or lower and as a result, contribute to a staggering 77% of CO2 emissions from homes in England and Wales.
What is the average cost to upgrade a property from EPC rating D, or below to C?
It is estimated that the average cost of upgrading a rental property rated EPC band D or below to band C is £9,260. Although this figure varies, landlords with a property in EPC rating band D, for example, typically spent £5,500 on the necessary improvements to move to band C, with this figure doubling to over £10,000 on average for properties in bands F and G.
Is there any government help for landlords?
Yes, landlords may be able to access funding through the ECO4 government funding scheme. Landlords with tenants on a low income or in receipt of government benefits, could be able to upgrade their property for free.
What is the ECO4 scheme?
What is the ECO4 Scheme? It is a government initiative aimed at improving energy efficiency in homes. The ECO4 scheme offers measures such as insulation, heating system upgrades, and renewable energy installations to help reduce energy consumption and lower carbon emissions.
How can I upgrade my property’s EPC rating for free?
With the new regulations on the horizon, it is crucial to take immediate action to improve your EPC rating.
The ECO4 funding scheme ends in 2026, and with limited funding available, it’s important to apply as soon as possible. The tenant (not the landlord) must meet one of the eligibility requirements. Such as being on a low income or in receipt of government benefits.
How do I begin the application process?
Firstly, ensure that your tenants are informed about the application.
Secondly, contact us on 01422 414 850, or fill out a form on our website.
Our friendly team will then conduct a survey of your property. This will include a review of the Energy Performance Certificate, and provide an initial indication of eligibility.
If the property meets the criteria, a free survey will be scheduled promptly
Followed by an installation and completion of the necessary paperwork.
Your tenants will soon enjoy reduced energy bills with the property upgraded through our services. Additionally, you will improve your EPC rating to meet the new requirements and avoid facing penalties and fines.
Don’t delay – call us today to check eligibility in a matter of minutes, 01422 414 850.